Bank struggles to maintain record profits
So Bank of America plans to charge account holders $5 a month to use their debit card, in response to new federal regulations that cap how much the bank can charge merchants per swipe of their customers’ debit cards.
We especially like how the Wall Street Journal mentions “the beleaguered banking industry,” noting the “challenges” Bank of America is facing, trying to keep up its record profits in the face of a small attempt at wrangling the bank back into the world of fair business practices. And of course, as usual, the fee will not apply to “premium accounts held by affluent customers,” just the ordinary sod, using his debit card to pump his own gas and pick up dinner for his kids at the drive-through.
We really can’t say it any better than this comment, spotted on a Facebook thread: “I wish I was beleaguered. Beleaguered means enjoying record profits, right?”