Bank of America Kills Debit Card Fee

Some of the protesters in Elk Grove last Saturday said the bank's plans to charge customers $5 per month to use their debit cards had made it a national symbol of corporate greed.

Apparently, Bank of America got sick of the backlash. The Wall Street Journal reported Tuesday that the bank is scrapping the controversial plan.

The decision came soon after Wells Fargo bank and J.P. Morgan Chase backed away from tests of similar fees, the Journal reports.

Occupy Elk Grove co-organizer Todd Elving said planned for Saturday will still go on.

"[Opposition to] the $5.00 fee is just a small portion of what we stand for," Elving said. "The larger picture is corporate greed and how they’re controlling our political system."