Bank of America Backs Down

Bank of America dropped a plan to charge a $5 a month debit card fee.  Other major banks, including Chase and Wells Fargo, said last week that they were canceling tests of similar fees. "Chalk this up as a major victory for the American people," Sen. Bernie Sanders told radio host Ed Schultz. Sanders' comments came during an interview about reports that Social Security, Medicare and Medicaid are once again on the chopping block as a powerful congressional committee looks for ways to lower budget deficits. "It is crazy," Sanders said. "The American people need to stand up right now and say we cannot cut these important programs."

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Bank of America dropped a plan to charge a $5 a month debit card fee.