Bank of America Drops Debit Card Usage Fee Plan

November 1, 2011 Updated Nov 1, 2011 at 12:06 PM EDT

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Bank of America Drops Debit Card Usage Fee Plan

November 1, 2011 Updated Nov 1, 2011 at 12:06 PM EDT

Bank of America announced Tuesday that it will not implement a debit card usage fee as it had previously planned to introduce.

"We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee," co-chief operating officer David Darnell said in a news release. "Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

Read the Bank of America news release HERE.