BANK OF AMERICA

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Bank of America Will Not Implement Debit Usage Fee

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CHARLOTTE, N.C., Nov 01, 2011 (BUSINESS WIRE) -- In response to customer feedback and the changing competitive marketplace, Bank of America no longer intends to implement a debit usage fee.

"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."

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

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www.bankofamerica.com

SOURCE: Bank of America

Reporters May Contact:
Anne Pace, Bank of America, 1.631.425.9319
anne.pace@bankofamerica.com
Tony Allen, Bank of America, 1.302.432.1195
tony.allen@bankofamerica.com