The $5.00 fee was being discussed long before the Dodd/Frank bill was passed. Stop making excuses for BoA.
I am not defending Dodd/Frank either. It sucks also, but BoA was planning this fee and others for some time. It was stupid of them then and now; and has been a public relations diaster that may actually topple the bank in the near term (unless we bail the banksters out again).
Stop proclaiming your business management ignorance.
BofA has a transaction expense and there is no business model anywhere suggesting it should come from profits rather than the benefitting consumer!
I’m sure when the concept of debit cards came up, the business model suggested getting the consumer hooked on using the card and later, introducing fees.