Bank of America reverses their fee on checking accounts

[CentralBanker]

The damage has already been done to the business image of Bank of America. It was right of them to cancel this fee in light of all the controversy surrounding this fee. If Bank of America were to go through with this then other large banks would follow too.

I think BAC will be able to save their image over time. It was a very negative thing to do, but news will take them out of the spotlight eventually. Over time the fee will be forgotten about and they will just be another bank.