Bank of America reversed its decision to impose a $5 monthly fee for basic accountholder debit transactions. The decision was the catalyst for BofA’s reversal. The Federal Reserve said it would offer card issuers a 1 cent incentive for investments in debit fraud prevention. Industry experts have balked at the 1 cent fee, saying it’s far too low to cover any significant investment in prevention. The Fed agrees to increase the incentive linked to fraud prevention, but industry experts say it’s too low.”]
Source: https://www.cuinfosecurity.com/no-debit-fees-what-next-a-4210