SPRINGFIELD, Mo.-- Bank of America has taken the spot light announcing a new 5-dollar monthly fee for using your debit card.
The reason, the bank says, is to pay for new government regulations that will cut bank profits from debit cards in half.
Right now, only big national banks will be affected by the new rules.
But smaller banks around our area, even credit unions, worry regulations for them could also be on the way before long.
It's a relatively new convenience that's easy to do, just swiping your card.
It can also be easy to forget that banks are for-profit institutions, out to make money just like you, and the store you're shopping in.
"Banks are being forced to look for ways to find income, but we are balancing that with being fair to the consumer and providing them a good service for the fees they provide," said Shelly Titus with Empire Bank.