news release posted on its Web site late Friday, Wells said it scrapped its five-state trial of a $3 monthly fee "as a response to customer feedback the bank has received." Wells Fargo joins other large banks in reversing plans to levy monthly charges on customers who use debit cards following a public backlash. On Friday, a report said JPMorgan Chase ( JPM) would scrap plans to charge a fee after conducting tests in multiple states.
And Bank of America ( BAC) reportedly is rethinking its plans to charge debit card users $5 a month. Consumers around the country began voicing outrage about debit card fees after Bank of America's planned surcharge was disclosed in late September. > > Bull or Bear? Vote in Our Poll Shares of Wells Fargo closed Friday up 1 cent at $27.08.