Blame Obama and Durbin for New Bank Fees

“It’s all too predictable, especially the complaints coming from the same politicians who supported the law that led to the imposition of the fee. What’s happened with BofA is a perfect example of the law of an unintended consequence that everyone should have seen coming every since Durbin proposed and Obama signed, as part of the massive Dodd-Frank legislation, a provision that imposed these new regulations on debit card interchange fees.”