This past week, Bank of America announced plans to charge most of its debit card users $5 a month if they use the card to make purchases. The decision is meant to offset anticipated revenue losses from regulatory changes that took effect on Friday. Democratic Sen. Dick Durbin of Illinois introduced those changes to last year's Dodd-Frank financial reform legislation. Durbin joins host Audie Cornish to explain why he thinks the legislation is important.
Sen. Durbin Defends Reform Despite New Bank Fees
By editor • Oct 2, 2011