Bank of America Corp. has shelved plans for new fees that could have hit at least 10 million customers by the end of this year, skirting a potential replay of a 2011 uproar over consumer-banking charges, the Wall Street Journal reported today. The decision to hold off on new checking-account fees at least until late next year comes amid a sweeping review of the bank's retail-banking business. Many other big banks, including JPMorgan Chase & Co. and Wells Fargo & Co., have rolled out plans that aim to raise fee revenue or push customers to do more business with them as low interest rates, slow economic growth and tough new rules limit bank profits. But the fees are unpopular with customers, regulators and many legislators, who see them as aimed at consumers who lack for low-cost options in handling their finances.
