B of A Drops Monthly Debit Card Fee

Bank of America made headlines with an announcement that customers who use debit cards at retailers will have to pay $5 per month. It seems like the backlash has made the bank reconsider.

B of A will abandon plans for the fee, as have most other large banks.

This may seem like a victory for consumers, but don't celebrate too soon. These fees popped up when banks were unable to earn revenue in other ways. The game of Whack-A-Mole surely does not end here, and banks will find other ways to earn the revenue they think they need.

So, if you're a Bank of America customer, you can breathe a little easier. However, we all need to anticipate "alternatives" to the fee.  Consumerist.com discusses a few candidates that may replace debit card fees.