Recent consumer backlash against Bank of America for debit card fees has raised questions about the viability of alternative financial institutions, like credit unions.


The soon-to-be $5 monthly charge to Bank of America customers who use their debit cards to make purchases is a result of the Durbin Amendment, a piece of 2010 legislation aimed at reducing the amount that merchants pay large banks for using their debit cards, said Scott Stane, vice president of strategic planning and marketing for University Credit Union, which has a branch in Ackerman Student Union.



The Daily Bruin :: Credit unions emerge as viable alternatives in light of banking fees