Approximately one month ago, Clevelanders were alerted to a debit card fee that was going to be imposed by Bank of America. Bank of America customers across the country were outraged with this newest concept that would take more money out of their pockets.
Well, no one was as upset over this as Kristen Christian. A Los Angeles art gallery owner had enough of ridiculous fees and poor customer service. On October 4th, she created a Facebook page called “Bank Transfer Day.” November 5th is the day to move your money out of the larger banking institutions, specifically Bank of America!
Well, Bank of America must have been listening. Or, did fear set in that they may lose alot of customers.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” Bank of America Co-Chief Operating Officer David Darnell said in a statement. This is not the first time Bank of America has made an announcement and then done an embarrassing about-face. Last spring, Bank of America Chief Executive Officer Brian Moynihan disclosed plans for a modest dividend increase this year, only to have the Federal Reserve Board deny the request.
The activitists that are supporting “Bank Transfer Day” have one goal in mind.
- If we shift our funds from the for-profit banking institutions in favor of not-for-profit credit unions before this date, we will send a clear message that conscious consumers won’t support companies with unethical business practices. It’s time to invest in local community growth!
• Research your local credit union options
• Open an account with the one that best suits your needs
• Cancel all automatic withdrawals & deposits
• Transfer your funds to the new account
• Follow your bank’s procedures to close your account before 11/05
FIND A CREDIT UNION NEAR YOU:
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