You Spoke, They Heard: Bank of America Abandons Debit Card Fee Plan

Bank of America has given up on its plan to charge its customers $5 a month to use their debit cards, citing customer feedback and a competitive marketplace.

When announced in August, the plan drew an immediate backlash from BofA customers. , 64 percent of respondents said they were going to switch banks. Twenty-nine percent said they would stop using their debit cards.

"We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee," said Bank of America's David Darnell, co-chief operating officer, in a written statement. "Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

Edmonds has one Bank of American branch, at 306 Main St.

For more information on Bank of America's announcement, you can read a story published today on Huffington Post.