Bank of America to Introduce Debit Card Fee

bank of america debit card feesWell, it looks like it has begun. One of the nation's largest banks, Bank of America, has announced they will begin charging customers for debit card usage. This new fee is set to take effect at the beginning of next year and impacts all customers regardless of how they use their debit card. If you use your debit card at all during the month you will be assessed this fee, whether it is 1 or 200 times. If you use your debit card just for transactions at the ATM you will not be assessed the monthly service fee.

According to rumors, for those with certain relationships with Bank of America (NYSE:BAC), they will be able to avoid the fee. These relationships typically consist of deposit amounts or lines of credit (auto loans, personal loans, etc) with the financial institution. 

Warren Buffet's Infusion of Equity in Bank of America (BAC)

The past few weeks there's been a lot of speculation and uncertainty regarding the financial markets, globally. This has created quite a bit of volatility on the New York Stock Exchange (NYSE). Financial stocks have been leading a lot of this volatility in the market. Analysts say that this is due to the uncertainty and global financial instability. Well, now enter Warren Buffet.

Who is Warren Buffett? Well only one of the wealthiest men in the world, according to Forbes list of wealthiest people. Warren Buffet is a U.S. business man. He's been frequently referred to as the "Oracle of Omaha" with relation to his style of investing. He was born in Omaha Nebraska - it doesn't get more American than that!

Bernake and the Housing Sector

Ben Bernake, Federal Reserve Chairman, gave an update on the state of the housing market at his press conference today. He also provided an update on efforts to modify loans and the effect on home sale prices.