Business

Big banks see backlash on Bank Transfer Day

Saturday, November 05, 2011

A nationwide backlash took place on Saturday against big banks. People right here in the Valley closed their bank accounts and urged others to join credit unions.

The event called, Bank Transfer Day, urges bank customers to close their accounts in favor of smaller credit unions. Consumers banded together after Bank of America announced plans to charge people a $5 fee to use their debit cards. The bank dropped the proposed hike after a nationwide backlash.

Camille Russell supports Bank Transfer Day. She says, "I am starting the account here because I am so disgusted with the business practices of the major banks." Russell hopes that moving her money will make a difference.

Bank Of America would not comment on Saturday's movement. More than 80,000 people nationwide are supporting Bank Transfer Day Facebook.

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Tags:
bank of america, occupy wall street, business, mariana jacob
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