6at4 Business Report: MF Global, Dorney Park, Bank of America

November 2, 2011 8:54:55 AM PDT
A big new coaster is coming to Dorney Park and big new troubles could be coming for MF Global and Jon Corzine.

Bank of America drops fee plan
Bank of America is no longer planning to charge a $5 fee for debit card transactions The news comes one day after other major banks, including JP Morgan Chase and Wells Fargo announced they won't be charging a fee. Bank of America faced a major backlash from customers following their September announcement. Officials say that customer reaction is why they decided to scrap the idea.

More trouble for MF Global
A shocking turn of events for MF Global, the firm run by former New Jersey governor Jon S. Corzine. Monday, we told you the firm filed for bankruptcy. Today the Associated Press is reporting that the company admitted to using clients' money, which is illegal. If that's true, this could to lead fraud or criminal charges. Regulators also discovered hundreds of millions of dollars missing from client's accounts. You can read more about MF Global's financial problems by following this link.

Dorney Park adding coaster
An 8th new roller coaster is under construction at Dorney Park in Allentown and will be up and running when the park opens in April 2012. It will be called the Stinger, a 138-foot inverted roller coaster that resembles a scorpion ready to strike. Riders will get flipped 6 times at speeds of 55 miles per hour.


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