Bank of America has dropped it's plan to start a new $5 fee on debit cards. There were many things which mitigated this like for example the petition started by Molly Katchpole on Change.org that gathered 200,000 signatures.
http://news.change.org/stories/score-one-for-a-customer-rebellion/?alert_id=AKzGhdjypX_QRLoYCAmdv&utm_source=action_alert&utm_medium=email
When all the other banks decided not to inmpose fees of their own this really hurt BAC's position as the one thing they don't want is to be out on a limb on this as the only bank imposing the fee. The work, however of the 22 year old Ms. Katchpole, however, can not be overstated.
After Bank of America installs it's new $5 debit card fee on September 29, Molly creates her petition the very next day and within 5 days already has 150,000 signatures. By October 5 the petition has become a national news story. ABC News interviews Molly, then forces BAC CEO Brian Moynihan to respond to it.
On October 6 she delivers 153,000 signatures to Bank of America and closes her account. She is featured in the NY Times and it discussed in a Charlotte newspaper whether this could lead to the firing of Moynihan.
On October 10 "Bank of America executive Andrew Plepler calls Molly Katchpole to discuss her petition."
On the 13, "Molly meets with Congressman Brad Miller to discuss a bill in Congress to make it easier to switch banks. The two later appear on CNN together."
On October 26, Moynihan peevishly declares that he's "outraged" at the criticism of the fees but the next day JP Morgan and Well Fargo announce they will stop testing their own $3 fees. As of now, yesterday her petition cleared 300,000 and they continue to demand that BAC end it's fee for all their customers.
This shows the influence a determined citizen can have as well as what change.org can do. While I celebrate Molly's success I can't help but ask that those who have yet to demand that Andrew Breitbart be indicted, seeing as we have first hand proof that these petitions work.
So please, sign to indcit Breitbart today-we only need 84 more signatures. http://www.change.org/petitions/mike-l-sax-indict-andrew-breitbart
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