Bank of America Considers Tiered Fee Structure
Under the proposed scheme, the bank would reward customers who maintain minimum current account balances, use their credit card a certain number of times each month, or do all their banking online, The Financial Times reported. Customers who don't do these things would be charged more.
"We're not guaranteeing that we will recover all of the revenue lost as a result of the new regulations, but over several years we think we'll get back a good share," Joe Price, who runs the bank's consumer unit, told The Financial Times.
Bank of America will begin testing different price structures this year.