Customers have expressed outrage over the plans, which were disclosed
and which were to take effect early next year. In online comments, many have threatened to switch to another bank.
reported Friday that Bank of America is reconsidering the plan after large rivals including
from assessing similar fees.
The New York Times
, citing bank officials, reported that they were "rethinking elements" of the fee plan. Although the officials hadn't reached a conclusion, the bank would likely increase the number of its customers who would be exempt from the fee, the
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Shares of Bank of America Friday closed up 30 cents at $7.35.
This article was written by a staff member of TheStreet.