This is the sort of thing that happens when you have clueless government officials, primarily Democrats, interfering in business operations, and passing unnecessary regulations. If, like me, you make regular use of debit cards, you know they are extremely useful. One of the things that makes them so useful is the lack of fees. If they start to come with a monthly charge or other restrictions, they become another expense which lessens their overall utility.
You might wonder why it is any business at all of the government what fees banks should charge merchants for using debit cards. Why can't banks just set whatever fees they want and merchants decide whether or not they want to pay them, pass them on the customers, or reject them entirely? Was there some sort of major problem with debit card use that even required government action? No, there wasn't. There was no need whatsoever for this sort of overbearing big government regulation. And now consumers are going to pay for it. Here's one of the sponsors of the regulation, one of the biggest idiots in Congress, Democrat Dick Durbin of Illinois,
"After years of raking in excess profits off an unfair and anticompetitive interchange system, Bank of America is trying to find new ways to pad their profits by sticking it to its customers. It's overt, unfair, and I hope their customers have the final say."What are "excessive profits" and who are you to decide what businesses should make? Bank of America is not trying to pad their profits, they are attempting to preserve them from being cut by arbitrary regulation. It may be "overt," but there's nothing unfair about it. Banks are not obligated to provide free debit card use. They were doing so until you decided to interfere. It's an obvious reaction to your attempt to slash their profits, one which was abundantly clear to anyone with the slightest clue when this legislation was under discussion.