Bank of America went from announcing a new $5 monthly debit card fee, to reeling under huge pressure from the media, Congress, and Change.org members in less than a month.
You can read more about how this all came about on Change.org
I had previously signed the petition and received the following email:
“Yesterday, Jess Kutch sent you an update on the amazing progress in Molly Katchpole’s campaign against Bank of America. Today, we have even bigger news: The Wall Street Journal is reporting that Bank of America has canceled all plans to charge any of its customers a fee for using a debit card!
This is an amazing victory, and it only happened because 22-year-old Molly Katchpole decided to start a Change.org petition to take on Bank of America and you (and 300,000 other people) joined her.
This is proof than anyone can start a movement, and that together we’re mightier than even the biggest corporations.
Congratulations, and thanks for being a change-maker.”
– The Change.org team
I’m sure that the fact that others, including Wells-Fargo, had cancelled any of their plans to also start charging this type of fee had a lot to do with it as well. That doesn’t mean that they won’t all figure out another way to add charges to your accounts so that they can continue reporting record profits each quarter.