Capitalism Forces Bank Of America to Cancel New Fees

[PLYMCO_PILGRIM]

Again it wasn't a coordinated campaign (wait is OWS coordinated?) it was a bunch of customers shopping elsewhere for their banking services and the loss of revenues and the potential loss of future revenues from their decisions that caused BOA to act.

Yes, it absolutely WAS a coordinated campaign. Where have you been? And yes, Occupy is highly organized and coordinated; stop believing the spin and lies.

That "bunch of customers" didn't make spontaneous, unrelated decisions. This was a deliberate, organized campaign.

Well 2 weeks ago you yelled at me saying that OWS isn't organized and that saying so was a lie because its organic. Now you're telling me they are organized like I stated before. Which is it


Part of it was that a lot of BOA customers, like me, who cancelled their accounts and threatened to cancel their accounts that forced bank of america to act. The other part was their competetion decided to not charge the fees giving their customers more options for banking (aka captialism at work).

 

[editec]

They find other reasons to ding people with fees, count on that.

 

[PLYMCO_PILGRIM]

They find other reasons to ding people with fees, count on that.

My eyes are peeled and i'll be reading any change of terms letters I get....when I find new fees being introduced I'll be posting here or in the other BOA thread

 

[Dragon]

Well 2 weeks ago you yelled at me saying that OWS isn't organized and that saying so was a lie because its organic. Now you're telling me they are organized like I stated before. Which is it

1. I have never "yelled" at anyone on this board.

2. I have never claimed that Occupy wasn't organized. What I have claimed was that it was not orchestrated by some behind-the-scenes usual-suspect liberal manipulator, e.g. Van Jones, George Soros, or Barack Obama (all of whom have been suggested).

I don't remember the conversation you're referring to, but if we had one, it went along those lines.

Occupy does not have a top-down hierarchical structure. It does not have a Fuhrer. It is not the creation of any one individual, nor of any one group such as a union or the Democratic Party. But it is highly organized, the organization being horizontal rather than vertical and highly democratic, but still highly organized. I've never said anything to the contrary.

Part of it was that a lot of BOA customers, like me, who cancelled their accounts and threatened to cancel their accounts that forced bank of america to act. The other part was their competetion decided to not charge the fees giving their customers more options for banking (aka captialism at work).

Yes, and I realize that YOU, PERSONALLY were probably not acting on the suggestions of Occupy, who organized a change-banks day directed not only at BoA but at all of the big banks. It seems you hadn't even heard of the movement to do that!

However, the movement to do this had the numbers it did in large part because Occupy organized the account-transfer en masse as a protest. This was not all spontaneous independent decisions by customers voting with their feet. Also, it's likely that this boycott was part of the reason why the competition did not choose to follow suit.

 

[PLYMCO_PILGRIM]

Ok I get it OWS is an organized movement just like I said from the beginning.

As far as OWS causing BoA to act, that is just incorrect. Again, BoA's competition saw an opening to grab customers by advertising that they wouldn't charge a fee while BoA's customers said c-ya later i'm going where I don't pay fees and BoA, in order to keep their buisness and compete with its competitors said "we won't charge the fee"

Actually let me be more specific

In response to customer feedback and the changing competitive marketplace, Bank of America no longer intends to implement a debit usage fee.


"We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee," said David Darnell, co-chief operating officer. "Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

Bank of America Corporation | Newsroom | Bank of America Will Not Implement Debit Usage Fee