5 Ways to Think About Nuisance Fees

Ron Lieber:

If you have any doubt about the impact of the Bank of America debit card fee episode, consider a couple of things.

First, it’s now been lampooned in the form of a video on the Funny or Die site. In that clip, a fake Bank of America ad quotes customers thanking the bank for not burning down their houses or torturing their families in a dungeon.

Second, it has induced a new wariness among companies in entirely different industries.

“We have the Bank of America fee top of mind,” said Bill Kula, a spokesman for Verizon. “Part of my role is to get in front of executives and say ‘Do you want your head chopped off if you do this?’ ”