The Breakdown

Explaining Southern California's economy

We can hear them now! Blowback forces Verizon to cancel fee

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What a difference a day makes! Exactly one day after Verizon Wireless said it was going to charge customers a $2 fee for processing credit and debit card bill payments, it backed off on the plan, after customers went ballistic.

I'm going to call myself cynical on this one and suggest that Verizon Wireless has just shot down a trial balloon. Earlier this year, big banks were also compelled to ditch plans to charge customers higher debit-card fees, so Big Red had to know what it was up against. 

But why not make the announcement, as a form of real-world market research? Customers have spoken.

Of course, the fact the the FCC said it was going to investigate the fee might have had something to do with Verizon's decision.

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