Move Your Money Day a Success; Over $50 Million Withdrawn From Big Banks

Around the country this past Saturday, November 5, people fed up with the power and influence of the big banks (not to mention their bailouts and bad customer service) moved their money to credit unions or to small, local banks.

He continued, “I understand it wasn’t so painless for others. There were reports coming out of LA that a downtown Bank of America was charging a $10 account closing fee,” as well as last month’s arrests of protesters attempting to remove their money from banks. “But incidents like that, while obnoxious, actually give me hope. They show that, whatever the short-term impact of Bank Transfer Day, the symbolic act of refusing to subsidize foreclosures and financial malpractice is powerful enough to make major banks uneasy.”