[Vision2020] FW: Breaking News: BofA drops debit fee!

[Saundra Lund]

Now, what idiots think protests are stupid?

Oh, yeah, those who aren't in the 99% and those pathetic 1% wannabes.

 

Saundra Lund

 

From: Consumers Union [mailto:action at consumer.org] 
Sent: Tuesday, November 01, 2011 11:32 AM
To:
Subject: Breaking News: BofA drops debit fee!

 

Description: Consumers Union, Policy & Action from Consumer Reports



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Dear Saundra,

Bank of America just announced that it will drop plans to charge its debit
card holders a $5 fee to use their card.

That's because you, and tens of thousands like you, got fed up and said "no"
to this final affront. You said, 'we can take our money elsewhere.'

Your public protest gave momentum to a growing movement among consumers to
transfer their money from the big banks to credit unions and smaller
community banks.

And the big banks heard you. Last week, JP Morgan Chase, Wells Fargo,
SunTrust Bank, and Regions Financial halted plans to charge monthly debit
fees. Bank of America was the only hold out. An hour ago, Bank of America
cancelled its fee, too.

What an amazing victory! 

And its more than just this one fee. The public backlash over debit card
fees will serve as a wake-up call to banks that they can't take their
customers for granted. While banks may come back with other fees in the
future, they'll be gauging public reaction carefully.

Enjoy your victory today. The money you keep in a bank is yours. So make
sure that your bank is working for you, and not just for its investors. If
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Congratulations!

Norma Garcia
DefendYourDollars.org
A project of Consumers Union
1535 Mission Street
San Franscisco, CA 94103

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