SMALL BUSINESS OWNERS FIGHT BANK OF AMERICA’S $5 DEBIT CARD FEE
Business owners join explosive campaign on Change.org with over 200,000 people across country demanding Bank of America cancel new $5 debit card fee
WASHINGTON, DC – Small business owners across America are joining a popular campaign on Change.org with over 200,000 signatures demanding Bank of America cancel its new $5 monthly debit card fee.
The online petition campaign was created by Washington, D.C., resident Molly Katchpole, a 22-year-old part-time worker and recent college graduate who closed her Bank of America account earlier this month in protest of the debit card fee.
A growing number of small business owners have joined the national campaign through Change.org, the world’s fastest-growing platform for social change.
“I was frustrated and upset when I learned of the new debit card fee,” said Leah Hennessy, owner of a boutique marketing and design firm in California. “The last thing any small business needs today is a new expense for the same services. I can't run a business with a bank I don't trust, and I truly feel Bank of America’s actions are wrong."
“Bank of America is already charging $14 per month for my personal account, plus $17 per month for my business account,” said Jill Liberto, who owns a small computer repair business with her husband. “And now they want to add $5 per month – per account, I assume, so another $10 per month total – to use a debit card. $41 per month for the privilege of letting them hold my money – almost $500 a year! This is absurd.”
“Bank of America has been our business bank for thirty years,” said Lori Hoyt, another small business owner. “If the fees are instituted I will consider moving our business and personal accounts.
What is unfortunate is that these fees will affect people that cannot afford the extra charge each month.”
Since the launch of the campaign on Change.org earlier this month, more than 200,000 Americans from all 50 states have joined.
Bank of America recently responded to the campaign, telling petition author Katchpole that a reversal of the debit card fee would be premature. CEO Brian Moynihan suggested Tuesday that the new $5 fee will actually attract business by encouraging customers to use more services and thereby avoid the charge.
Live signature totals from Molly Katchpole’s Bank of America campaign:
http://www.change.org/petitions/tell-bank-of-america-no-5-debit-card-fees
ABC Nightly News coverage of Molly Katchpole’s petition:
http://www.youtube.com/watch?v=WIteRQg6cd8
Journalists interested in contacting Bank of America’s public relations staff should try:
Scott Silvestri
Phone: 980.388.9921
T.J. Crawford
Phone: 646.855.3301
Nicole Nastacie
Phone: 980.388.7252
Diane Wagner
Phone: 312.992.2370
For more information on Change.org, please visit: http://www.change.org/about
Change.org is the world’s fastest-growing platform for social change — growing by more than 400,000 new members a month, and empowering millions of people to start, join, and win campaigns for social change in their community, city and country.
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