Bank of America suspends increase in overdraft fee

Bank of America Corp., is suspending the increase in their Overdraft Fee. The increase in the fee was announced earlier this month, but a spokesman from Charlotte, James Pierpoint said that the Overdraft fee will remain at $35 per item, rather than $39 as planned.

1. The Overdraft fee for customers whose checking account balance remains negative for 5 or more days will stay at $35
2. Bank of America will waive Monthly account maintenance costs for three months for some customers who are unemployed.
3. The monthly fee of the bank's most popular checking account will be $8.95, up from $5.95 per month.

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