Vermont Congressman Peter Welch: Shame on big banks and new fees.
U.S. House Chief Deputy Whip Rep. Peter Welch (D) of Vermont blasted Bank of America and Citigroup over their announced new banking fees today. American consumers are in the crosshairs, Welch said.
Welch is the House leader in the effort to crack down on out-of-control swipe fees and has partnered with U.S. Sen.Durbin (D-Ill.) on swipe fee reforms.
“The decisions by Bank of America and Citibank to impose fees on debit cards and checking accounts is simply shameless,” Welch said. “The reason they still exist is because of the generosity of the American taxpayer. And now, at a time when consumers everywhere are struggling to make ends meet, they stick the knife in by charging customers to get access to their accounts. When will enough be enough for big banks?”