In my original post I mentioned that many of the larger banks were expected to follow suit, and begin charging similar fees just as Bank of America announced it would do. This was indeed the case. Since the time of the article, banks such as J.P. Morgan Chase and Wells Fargo announced they too would look at charging the same fees. However, according to Robin Sidel's comments in today's Wall Street Journal, Wells Fargo and J.P. Morgan Chase have just been joined by Sun Trust Bank and Regions Financial Corp. in their recent denouncement of test fees amongst certain groups of customers. Sidel explains in her article that these recent moves leave Bank of America as "...the only big bank that is still planning to levy the fee..."
It appears to me that banks across the country have tested the water with creative fees, and have determined that their customers are unreceptive and willing to look elsewhere for services historically offered at no charge. Seeing the free market operate is refreshing to me at a time when it so often seems that free market principles are under attack. The question is whether the trend will continue.