By ALLISSA KLINE
akline@bizjournals.com | 716-541-1612

The recent public outcry over proposed fees for debit card usage has apparently swayed Bank of America to call off its plans to impose charges.

A brief statement was issued Tuesday by the Charlotte financial institution, which pointed to "customer feedback and the changing competitive marketplace" as reasons why the fees won't be implemented after all. The reversal comes four days before "Bank Transfer Day" on Nov. 5, a day in which bank customers are being encouraged to switch their accounts to credit unions and community banks.

"We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee," said David Darnell, co-chief operating officer. "Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

The turnaround comes just a month after Bank of America announced it would charge customers $5 per month to use debit cards, unless those customers met certain criteria. A backlash ensued and other financial institutions considering similar fees - JPMorgan Chase and Wells Fargo, for instance - scaled back their own plans for debit usage fees.

In recent weeks, more than 300,000 people from all 50 states joined a consumer advocacy campaign against the fees on Change.org, according to a statement released by the website.

"I knew that if enough people expressed their outrage to Bank of America, they would have to listen to their customers and reverse their debit fee plan," said Molly Katchpole, a 22-year-old Bank of America customer who started the campaign. "The success off this campaign proves that ordinary people can successfully stand up to even the largest corporations."

To date, none of the banks or credit unions in Western New York have announced pending debit usage fees. Bank of America planned to launch the fees in January as a way to make up for lost revenue.