They Just Won’t Stop: BofA to Add On New Fees for Checking Accounts

By: Thursday March 1, 2012 10:15 am

Yesterday I told you about Bank of America’s new game of doling out tax refunds through debit cards in South Carolina – and taking a piece off the top. Now the Wall Street Journal reports that BofA is once again going to its customers to impose fees on their basic accounts, despite being slapped down [...]

Banks Ratcheting Up Other Fees After Demise of Debit Card Fee

By: Monday November 14, 2011 1:35 pm

I mentioned yesterday that big banks were raking in cash from fees on the debit cards they release in contracts with states to deliver unemployment benefits. But those aren’t the only fees that the banks are testing out in a bid to recoup the funds lost when debit card swipe fees were limited. Eric Dash [...]

Big Banks Turn Unemployment Benefits Into a Profit Center

By: Sunday November 13, 2011 3:05 pm

Despite big banks putting up a brave front, there’s a good deal of anecdotal evidence that individual managers are trying desperately to stop customers from moving their money. Whether it’s just throwing up additional hurdles like a $10 closure fee, or outright begging customers to stay, or bad-mouthing credit unions or community banks, or simply [...]

Bank Transfer Day a Resounding Success for Move Your Money Movement

By: Sunday November 6, 2011 10:23 am

It’s going to be hard to gauge the actual success of Bank Transfer Day for a while. Not only do we have to wait for record-keeping – and Bank of America, at least, is not giving up the data – but many customers may have just initiated the bank transfer process, opening their account at [...]

A Victory for Citizens, as Bank of America Abandons Its Debit Card Fee

By: Tuesday November 1, 2011 10:15 am

Bank of America has canceled its proposed $5 a month debit card fee, amid pressure from bank accountability groups and the Occupy Wall Street protests, as well as rage from its own customers. BofA was the final holdout among major banks on the debit card fee. JPMorgan Chase and Wells Fargo announced that they would [...]

Progressive Groups Piling on Move Your Money Movement

By: Tuesday November 1, 2011 7:35 am

The revived Move Your Money movement continues to grow, leading up to Bank Transfer Day on November 5. The Facebook page for Bank Transfer Day has nearly 33,000 likes. And now one of the big progressive hitters has jumped in. MoveOn.org has rallied their millions of supporters and sought pledges from them to move their [...]

New Bottom Line Announces National Divestment Campaign

By: Monday October 31, 2011 6:21 am

Bank of America’s $5 monthly debit card fee, a move they are now trying to walk back, has revitalized a citizen’s movement to take money out of the large Wall Street banks and to put it into community banks or credit unions. This has gone forward with minimal success since the financial meltdown, but now [...]

Bank of America Begins Walkback on $5 Debit Card Fee

By: Sunday October 30, 2011 10:45 am

Friday I wrote about how other big banks took the cue from Bank of America’s disastrous rollout of their $5 a month debit card fee, and canceled their plans to do the same. Now BofA is furiously backtracking on their fee, offering a number of ways for their customers to get out of it. Bank [...]

Banks Realize People Don’t Like Being Charged to Use Their Own Money

By: Friday October 28, 2011 7:35 am

I’ve said before that no issue has resonated more over the last month or so than Bank of America’s plan for a monthly $5 debit card purchase fee. It helped drive the Occupy Wall Street protests, kickstarted a new incarnation of the Move Your Money movement, bolstered community banks and offered a powerful real-world example [...]

Some Community Banks Giving $5 a Month to Customers for Using Debit Cards

By: Friday October 14, 2011 12:55 pm

Earlier I wrote about the revival of various “Move Your Money” campaigns designed to encourage individual depositors to close their accounts with the big banks. This movement was given new life after Bank of America announced a $5 monthly fee for using debit cards for purchases. A couple community banks are capitalizing on the publicity [...]

Move Your Money Movement Having a Revival

By: Friday October 14, 2011 7:03 am

After passively accepting ever-increasing mistreatment from big banks, activists, community groups and even some politicians are jumping aboard a broad, multi-stage “move your money” campaign designed to transfer bank deposits into community banks and credit unions. The twin inspirations for this have been the Occupy Wall Street movement and its focus on the lords of [...]

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