Bank of America Rescinds Debit Card Fees: Lessons of the 1960’s, Don’t Mess with The People

Has the tide turned? Are the banks now doing the right thing? Maybe so.

Today, Bank of America and other banks have decided to do what’s right (and fair) and rescind their debit card fees. Why? Because the People stood up and said “No” to the new fees. Frankly, I was wondering how the “audacity” of banks charging new fees would turn out. Charging debit card fees was a questionable move in light of recent profits. And, simply a bad PR move especially in this economic climate and given how banks are viewed these days. Are the banks listening? Have they fired their PR departments? Or, is greed simply greed?

Have we forgotten how the 1960’s “protests” changed our country when people took to the streets? Civil Rights, Women’s Rights, Anti-Vietnam War, Gay Rights, to name a few. Today’s Occupy Wall Street may appear to be a disorganized “protest”, but it is just the beginning.

The banks now have their wake-up call. Don’t mess with the People.

Simply my opinion, what say you?


3 Comments on “Bank of America Rescinds Debit Card Fees: Lessons of the 1960’s, Don’t Mess with The People”

  1. Carol Owusu says:

    Thanks a lot for the article post.Really looking forward to read more. Awesome.

  2. Jill Estensen says:

    Banks are in the business of making money. Rescinding the debit card fees was the least they could do and I stress the LEAST. They created some chaos with the charges….then they acquiesced to the peoples screams in anticipation of whatever new money making scheme they will introduce. I was in banking for 10 years. Banks make money on the money you let them store for you. I haven’t paid a fee for ANY bank service since I left banking in 1987. When a bank threatens to charge me for storing my money, I simply move my money to another bank who offers me free services. My sister says I change banks like other people change underwear!!! Jill Estensen

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