You all know what’s going on with Occupy Wall Street. Maybe you care but can’t participate.
This solution is really easy, will hurt big banks and save you money.
Seriously guys hop on board.
• Open an account with a Credit Union.
• Transfer your funds to the new account.
• Follow your bank’s procedures to close your account.
• Invite your friends on facebook. Facebook invite.
• Post to your facebook.
• Share with other groups you’re involved with.
Find a credit union near you:
If we all do that they will feel the pain. We will feel the gain. We count. We matter. We can make a difference together without protesting on the streets.
We are the 99%.
We will send a clear message and give the 1% a taste of the fear that we experience every day when we aren’t able to pay for our rent, food, medication, utilities, student loans, etc.
We are the 99%!
WHY ARE WE BOYCOTTING?
The Durbin Amendment is an add-on to the Dodd–Frank Wall Street Reform and Consumer Protection Act (Public Law No. 111-203), signed into law by President Barack Obama on July 21, 2010. The Act allows the Federal Reserve to regulate debit card interchange fees of banks with over $10 billion in assets. Over the summer, the Fed released the final rule on the matter by limiting debit card interchange fees to a maximum of 21¢ per transaction. In response, these “major banks” have decided that beginning early 2012 any consumer with less than $20,000 in combined accounts will be charged a monthly $3-5 fee if they use their debit card at any point during the month. This is a blatant attack on the 99% that cannot & will not be tolerated. In a stand of solidarity, we must transfer our money & close our accounts with these major banking institutions to take our business to credit unions (or local banks if a credit union isn’t available).
• With the Durbin Amendment in affect, banks will still make 19¢ profit per processed transaction [*1]
• The average consumer uses his/her debit card 24 times per month [*2]
• Without the additional fee, Bank of America stands to turn a $3,228,480,000 annual profit from its 59 million customers’ debit card transactions [*3]
• Without the additional fee, Wells Fargo stands to turn a $2,626,560,000 annual profit from its 48 million customers’ debit card transactions [*4]
• Without the additional fee, JP Morgan (Chase) stands to turn a $4,924,800,000 annual profit from its 90 million customers’ debit card transactions [*5]
This was created as an event on facebook with the V for Vendetta backing, a Guy Fawkes Mask, for November 5th and by an author who was very rude for those with positive feedback on the negative logo and image. I am switching to a credit union and sharing the idea and info with everyone as an on going effort.