Opinion

BofA’s fee-ble excuses

The Issue: Bank of America’s plan to impose a $5 monthly fee for debit-card use.

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In his six points, Richard Epstein tries to make it look as if a reduction in fees would cause banks to go bankrupt (“Dick’s Debit-Card Dud,” Richard Epstein, PostOpinion, Oct. 6).

Actually, at 22 cents, they are still making a large profit.

Customers not borrowing but using their own money made $12 billion for the banking system last year. Yet the banks want to bite the hand that feeds them.

It’s all a matter of greed on the part of the monopolistic banking oligarchy. They can’t wait for the debit-card industry and its attached fees to evolve into a ubiquitous charge that we don’t bother questioning.

R. Rainey

Floral Park

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Bank of America CEO Brian Moynihan is asserting that it has a “right to make a profit” as justification for its very unpopular new $5 debit-card fee.

I disagree.

While corporations exist to try to make a profit, some succeed and some fail. There is no entitlement to a profit. And this is especially true in the case of Bank of America.

Bank of America exists only because taxpayers bailed it out. Now BofA thinks it is entitled to corporate welfare forever.

This is the United States of America, not the United States of Corporate America.

Marc Perkel

Gilroy, Calif.