The Washington State banking commissioner is protesting BankAmerica Corp.'s new ATM fees for noncustomers, calling them illegal and a form of predatory pricing.

In fact, "the case can be made that surcharges are one step worse than predatory pricing," wrote John L. Bley, director of Washington's Department of Financial Institutions, in a letter last week to the Office of the Comptroller of the Currency.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.