Forum Post: Bank of America and other banks decide to not charge for debit card use!
Posted 12 years ago on Nov. 1, 2011, 2:40 p.m. EST by WorkingMom1
(0)
from New York, NY
This content is user submitted and not an official statement
Although OWS was not mentioned in the article, they heard the American message .
It is hapening...some signals are going on
USA asking IRAK end war. Greek , asking for a popular and democratic vote for economy trouble FM bank, bankrupt.
Small signals , but going forward.
Don't think this is in any way a victory. It is simply a business calculation, made primarily because other corporate banks were not being as greedy in (this specific respect and at this moment in time).
Nov. 5th is Bank Action Day. Close your corporate bank accounts and move them to local / community banks or credit unions. The victory will be when all banks are community based and large corporate banks no longer exist. Assuming of course that some form of viable monetary system still exits ...
And I can assure you they dropped the fee ONLY because they calculated they would lose more dollars than they would gain. This is how you create change in businesses. You don't buy their product and you don't work for them so long as they continue with business practices that are objectionable to you. So long as the majority of people both find the practices objectionable AND abstain from any participation whatsoever with the business, businesses will do what you want.
They are afraid of the 5th of November. They haven't dropped their monthly maintenance fee, so I am dropping them.
http://www.creditunionsonline.com/news/2011/bank-transfer-day-is-november-5th-are-you-going-to-move-your-money.html
OccupyWallStreet scores a victory - Bank of America retreats. Debit card fees dropped: http://t.co/6BNn8BNL
www.michaelmoore.com/
Are you being serious? They did that pecuase people didn't want to pay $5, and were closing their accounts. OWS had nothing to do with this in the least
It wasn't OWS that motivated people to close their BoA accounts, it was the increase in fees. A bunch of people protesting in a park did not persuade people to leave BoA, get real. Will OWS claim a victory when nothing major happens this Saturday, because nothing major will happen. Most folks don't come to this site and certainly not the Marxist and socialist sites that are promoting this November 5th junk. This movement is just one big, closeted, Obama loving camp.
Bank of America must have lost tens - and perhaps, in the long term, hundreds - of millions because of its greed... May it be a good lesson in "people power" for all banks and "one-percenters"!
Read "Credit Union Windfall From Debit Card Fee that Broke Bank of America's Back"
http://www.creditunionsonline.com/news/2011/credit-union-windfall-from-the-fee-that-broke-bank-of-americas-back.html
PEOPLE!!!
This is PHENOMENAL! WE THE PEOPLE have just scored a major victory over the greed of the big banks!
OK, this $5. thing is symbolic... but it is a symbol that speaks volumes about the EFFECTIVENESS of OWS and PEOPLE POWER.
And so, while this is only a modest beginning, it is a harbinger of far greater things to come and we should be dancing in the streets from coast to coast.
PEOPLE BEFORE PROFIT!!! PEOPLE BEFORE PROFIT!!! PEOPLE BEFORE PROFIT!!!