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I know many people personally that moved their accounts when the fee was announced and not one was part of the 99% ...I don't think it's because of OWS, more that it's a result of people pulling their accounts from BoA because of the fees. The other banks see this, and are reconsidering as they don't want to lose customers.
Even my small local bank has a sign out front inviting people to move their BoA accounts there to use their free debit cards.
The stupid asses that are paid to gather and sit don't have an agenda that they know of ....
listen to the people when they announced it because there was not ONE that was happy and ALL knew if they got away with it more would try.
Myth Busted!!!
1. it isn't a myth, it was an opinion of a writer. i thought that writer raised interesting questions.
2. your "opinion" doesn't "bust" anything.
thanks for playing.
Still, it does not take a genius to figure out that charging fees to consumers for their use of debit cards is exactly the kind of thing nearly all participants in Occupy Wall Street would be likely to oppose.
I honestly wonder if BoA wasn't put up as "the canary in the coal mine". Maybe they decided to try to float the idea to see if it would be accepted, and the other banks could add the same fees if nothing was said.
Similar to when airlines try to tack on additional fees, and the other airlines go along when the traveling public doesn't beak about it. Just look at how they got away with checked baggage fees and fuel surcharges during the $4 gasoline period.
Agreed after receiving even more from obama
bush signed the bailout.
nice try. maybe you'll get something right next time. i hear third time's the charm.
i'm rooting for you.
Bank Fee Debacle is the First Occupy Wall Street Victory
By Dan Freed - 10/31/11 - 4:02 PM EDT
NEW YORK (TheStreet) -- For a movement without an agenda, Occupy Wall Street is off to a pretty good start--scaring JPMorgan Chase(NYSE:JPM), Wells Fargo(NYSE:WFC) and SunTrust Banks(NYSE:STI) away from their plans to charge customers who use their debit cards to make purchases.
None of these banks cited Occupy Wall Street in explaining their reversal, and because Occupy Wall Street does not speak with one voice, it cannot be said to have demanded these banks reverse course on their planned fees.
Still, it does not take a genius to figure out that charging fees to consumers for their use of debit cards is exactly the kind of thing nearly all participants in Occupy Wall Street would be likely to oppose. What the movement is doing, as many commentators have pointed out recently, is changing the national conversation, much as the Tea Party did before dealing Democrats a resounding defeat in the Congressional mid-term elections.
JPMorgan CEO Jamie Dimon has been a prominent target of the protestors (see video above). Dimon, a defiant critic of many proposed financial services industry reforms, has been hinting at the fee increase ever since his famous statement in the wake of the passage of Dodd Frank financial reform legislation: "If you're a restaurant and you can't charge for the soda, you're going to charge more for the burger."
Still, it was Bank of America(NYSE:BAC) was out in front in announcing the new debt fee, drawing heaps of scorn upon itself, as TheStreet found out in a recent poll. Bank of America is now reported to be reconsidering aspects of its fee program, according to The Wall Street Journal. Bank spokespeople did not return an email message seeking to confirm the report.
Article Page | TheStreet
I don't think it's because of OWS, more that it's a result of people pulling their accounts from BoA because of the fees. The other banks see this, and are reconsidering as they don't want to lose customers.
Even my small local bank has a sign out front inviting people to move their BoA accounts there to use their free debit cards.
hence my putting the thread title in quotes. i don't know. i thought the article in The Street raised some interesting questions. I would have pulled my money out of BoA had I an account in that bank.
I'm glad your local bank took advantage of that situation. It was pretty vile for an industry posting those kinds of profits.
But ask if OWS helped. I don't know the answer.
I can ask them the next time I go in, but i doubt they'll say it has anything to do with OWS.
As I said, my bank is trying to get customers by advertising that they don't charge people to use their debit cards. the reason we moved our accounts there was because they don't use the underhanded tactic of charging a fee on top of another bank's fee for using an outside ATM machine. We left our last bank because they would charge $1.50 on top of the outside bank's $2.50 fee.
Just as an aside, they also don't charge a fee if you use your debit card to purchase anything at the market or at any other location.
hence my putting the thread title in quotes. i don't know. i thought the article in The Street raised some interesting questions. I would have pulled my money out of BoA had I an account in that bank.
I'm glad your local bank took advantage of that situation. It was pretty vile for an industry posting those kinds of profits.
But ask if OWS helped. I don't know the answer.
I can ask them the next time I go in, but i doubt they'll say it has anything to do with OWS.
As I said, my bank is trying to get customers by advertising that they don't charge people to use their debit cards. the reason we moved our accounts there was because they don't use the underhanded tactic of charging a fee on top of another bank's fee for using an outside ATM machine. We left our last bank because they would charge $1.50 on top of the outside bank's $2.50 fee.
Just as an aside, they also don't charge a fee if you use your debit card to purchase anything at the market or at any other location.
I switched from Chase a few years ago, my current bank not only doesn't charge me for using other ATMs, they PAY THE FEE that the ATMs charge.
I love credit unions.
Stop voting for the 1% in the US Congress (and White House)
That might be a winning argument in places like Brooklyn one year from today:
"...Im referring to Brooklyn, New Yorks most populous borough, which has suffered mightily since the economic meltdown of 2008.
"Though the crowds participating in the Occupy Wall Street movement are now more racially diverse than at the outset of the protests, most disadvantaged Brooklyn residents are still shying away from demonstrations.
"This fact is most glaringly evident when one takes the 2 or 3 train from Fulton Street near the protests and heads out into Brooklyn: while most of the protesters are young and white, the subway riders are predominantly African-American and Caribbean."
Occupy Wall Street Will Only Reach Critical Mass When It Attracts the Minorities of Brooklyn, Across the River | BuzzFlash.org
Why not FLUSH every DC incumbent (Republican AND Democrat) whose wealth places them in the 1%?
I honestly wonder if BoA wasn't put up as "the canary in the coal mine". Maybe they decided to try to float the idea to see if it would be accepted, and the other banks could add the same fees if nothing was said.
Similar to when airlines try to tack on additional fees, and the other airlines go along when the traveling public doesn't beak about it. Just look at how they got away with checked baggage fees and fuel surcharges during the $4 gasoline period.
i think there's truth in that. mostly, i think they're a bunch of greedy buggers.
hence my putting the thread title in quotes. i don't know. i thought the article in The Street raised some interesting questions. I would have pulled my money out of BoA had I an account in that bank.
I'm glad your local bank took advantage of that situation. It was pretty vile for an industry posting those kinds of profits.
But ask if OWS helped. I don't know the answer.
I can ask them the next time I go in, but i doubt they'll say it has anything to do with OWS.
As I said, my bank is trying to get customers by advertising that they don't charge people to use their debit cards. the reason we moved our accounts there was because they don't use the underhanded tactic of charging a fee on top of another bank's fee for using an outside ATM machine. We left our last bank because they would charge $1.50 on top of the outside bank's $2.50 fee.
Just as an aside, they also don't charge a fee if you use your debit card to purchase anything at the market or at any other location.
I switched from Chase a few years ago, my current bank not only doesn't charge me for using other ATMs, they PAY THE FEE that the ATMs charge.
I love credit unions.
I can ask them the next time I go in, but i doubt they'll say it has anything to do with OWS.
As I said, my bank is trying to get customers by advertising that they don't charge people to use their debit cards. the reason we moved our accounts there was because they don't use the underhanded tactic of charging a fee on top of another bank's fee for using an outside ATM machine. We left our last bank because they would charge $1.50 on top of the outside bank's $2.50 fee.
Just as an aside, they also don't charge a fee if you use your debit card to purchase anything at the market or at any other location.
I switched from Chase a few years ago, my current bank not only doesn't charge me for using other ATMs, they PAY THE FEE that the ATMs charge.
I love credit unions.
It does not take a genius to figure out The OWS movement is so strong that you sublimitedly felt their presence TWO YEARS AGO!!!
hence my putting the thread title in quotes. i don't know. i thought the article in The Street raised some interesting questions. I would have pulled my money out of BoA had I an account in that bank.
I'm glad your local bank took advantage of that situation. It was pretty vile for an industry posting those kinds of profits.
But ask if OWS helped. I don't know the answer.
I can ask them the next time I go in, but i doubt they'll say it has anything to do with OWS.
As I said, my bank is trying to get customers by advertising that they don't charge people to use their debit cards. the reason we moved our accounts there was because they don't use the underhanded tactic of charging a fee on top of another bank's fee for using an outside ATM machine. We left our last bank because they would charge $1.50 on top of the outside bank's $2.50 fee.
Just as an aside, they also don't charge a fee if you use your debit card to purchase anything at the market or at any other location.
I switched from Chase a few years ago, my current bank not only doesn't charge me for using other ATMs, they PAY THE FEE that the ATMs charge.
I love credit unions.
I switched from Chase a few years ago, my current bank not only doesn't charge me for using other ATMs, they PAY THE FEE that the ATMs charge.
I love credit unions.
It does not take a genius to figure out The OWS movement is so strong that you sublimitedly felt their presence TWO YEARS AGO!!!
Huh? What are you talking about?
I honestly wonder if BoA wasn't put up as "the canary in the coal mine". Maybe they decided to try to float the idea to see if it would be accepted, and the other banks could add the same fees if nothing was said.
Similar to when airlines try to tack on additional fees, and the other airlines go along when the traveling public doesn't beak about it. Just look at how they got away with checked baggage fees and fuel surcharges during the $4 gasoline period.
i think there's truth in that. mostly, i think they're a bunch of greedy buggers.
Of course. They definitely are greedy. But then again, who isn't? Aren't we all trying to get the most and the best we can for ourselves?
Where the giant banks, the corporations that go offshore, and the politicians on both sides of the aisle go wrong is when they try to enrich themselves on the backs of the working folks that are just trying to make their way in the world.
I have no problem with the ones who charge an honest fee for their services. The ones who double and triple dip and rip off the consumers should be squashed like bugs.
I switched from Chase a few years ago, my current bank not only doesn't charge me for using other ATMs, they PAY THE FEE that the ATMs charge.
I love credit unions.
It does not take a genius to figure out The OWS movement is so strong that you sublimitedly felt their presence TWO YEARS AGO!!!
Huh? What are you talking about?
however, when i had my own practice, i would tell my clients when it wasn't cost efficient to pursue something. i would force them to do a cost/benefit analysis... even if it cost me money. .....
