It seems that Bank of America miscalculated in pushing thru the 5$ a month debit card fee. They have become so arrogant that they thought that they could just get away with it like everything else. Consumers have rebelled, Bank of America has a public relations disaster on its hands, and people are dropping their accounts in droves. I certainly would. Just another reason why you should be suspicious of going with a big arrogant bank. My past dealings with Citibank show an institution that is completely confused and disorganized and I am glad that I do not work with them.
I suspect that our big banks have become like the Japanese banks: loaded with toxic assets that they cannot and will not face, and being kept on life support by public largesse. It is time for a reality check.