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Showing posts with label Bus Econ 20111105 Bank Transfer Day. Show all posts
Showing posts with label Bus Econ 20111105 Bank Transfer Day. Show all posts

Thursday, October 20, 2011

Yahoo Finance - Bank Transfer Day: A Protest With Your Money by Brian O'Connell

Bank Transfer Day: A Protest With Your Money
by Brian O'Connell Wednesday, October 12, 2011


Occupy Wall Street has dominated headlines for the past few weeks, with advocates and critics jaw-boning over whether it was government or Wall Street that fueled the financial crisis (here's a vote for both).


On the movement's Facebook page, protest organizers say that, even with new government regulations in place to keep banks in check, they're still making out like bandits. For example:

With the Durbin Amendment in effect, banks will still make 19 cents profit per processed transaction.

The average consumer uses his or her debit card 24 times per month.

Without the additional fee, Bank of America stands to turn a $3.3 billion annual profit from its 59 million customers' debit card transactions.

Here's an explanation from the organizers of Bank Transfer Day, straight from the group's Facebook page


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[20111012 Yahoo Finance BTD A Protest With Your Money]

Yahoo Finance - Bank Transfer Day: A Protest With Your Money by Brian O'Connell

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“Fish Fish” by Kevin Dayhoff






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Credit Union Times: Bank Transfer Day Continues Facebook Runup

Credit Union Times: Bank Transfer Day Continues Facebook Runup

October 17, 2011 Subscribe Now!

Bank Transfer Day Continues Facebook Runup

Credit Union Times



October 17, 2011  •  Subscribe Now!

Bank Transfer Day Continues Facebook Runup

Kristen Christian, the Los Angeles art dealer who thought up Bank Transfer Day and tied it to Guy Fawkes Day.Kristen Christian, the Los Angeles art dealer who thought up Bank Transfer Day and tied it to Guy Fawkes Day.
The Bank Transfer Day phenomenon popping up all over the media – mainstream and social – took some new turns Monday.
[...] 
Credit unions in Ohio, South Carolina and Pennsylvania also have said they’re working to take advantage of the new wave of anti-bank sentiment.
[...]
As it turns out, Coasthills is one of two California CUs of choice for the now “credit union face” of Bank Transfer Day, Kristen Christian, the Los Angeles art dealer who created the original Facebook page about Bank Transfer Day a couple weeks ago and decided on Nov. 5 – Guy Fawkes Day in England – as the day.
Christian, who said she created the site out of her frustration at Bank of America’s new$5 monthly debit fee – reiterated Monday that she is not out for personal gain or notoriety but is a willing advocate for CUs “because of what they do and what they represent.”
Christian told Credit Union Times she has conducted “many interviews over the phone with radio station reporters from Texas and everywhere and now I have something on CNN with Don Lemon.”

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“Fish Fish” by Kevin Dayhoff








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Wednesday, October 19, 2011

The Street: Bank Transfer Day: A Protest With Your Money By Brian O'Connell

Bank Transfer Day: A Protest With Your Money By Brian O'Connell



10/12/11

NEW YORK (MainStreet) -- Occupy Wall Street has dominated headlines for the past few weeks, with advocates and critics jaw-boning over whether it was government or Wall Street that fueled the financial crisis (here's a vote for both).

But even critics can't argue about the growth prospects of the "occupations" taking place in urban centers across the U.S. Now comes an offshoot of Occupy Wall Street that takes aim at banks where it hurts them most -- in their vaults.


Debit card fees of $5 a month from Bank of America are among steps leading to a "Bank Transfer Day" protest with a Nov. 5 deadline.

The social uprising -- called "Bank Transfer Day" – encourages bank customers to take their cash out of big banks and put it in smaller banks and credit unions instead. The movement is ostensibly in response to aggressive fees institutions are rolling out to recover profits lost from new financial regulations, notably Bank of America's(BAC_) decision to stick debit card users with a $5 monthly fee and Wells Fargo's(WFC_) $3 test of the same… http://www.thestreet.com/story/11274526/1/bank-transfer-day-a-protest-with-your-money.html



“Fish Fish” by Kevin Dayhoff






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Community Banker Today: “Bank Transfer Day” Gaining Traction on Facebook

Community Banker Today: “Bank Transfer Day” Gaining Traction on Facebook


OCTOBER 13, 2011

A social media–based campaign, started by a disgruntled customer, to transfer bank accounts from big banks to credit unions is growing. More than 30,000 people have signed onto the "Bank Transfer Day" Facebook event page, which instructs participants to transfer their accounts on Nov. 5 from large banks to local credit unions.

ICBA is taking the opportunity to remind reporters and consumers that community banks are a great, hometown banking alternative. As part of its "go local" movement, ICBA is encouraging consumers to realize the litany of benefits associated with community banks, including a relationship-based banking experience and superior customer service.

ICBA also continues to offer its Community Bank Locator to help consumers find a community bank in their area.











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[20111013 Community Banker Today BTD Gaining Traction on FB]


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Kevin E. Dayhoff - TheTentacle.com: Bank Transfer Day

October 19, 2011

Bank Transfer Day
Kevin E. Dayhoff
http://www.thetentacle.com/ShowArticle.cfm?mydocid=4695



The continuing saga of the crusade against the vampire squids… I’m just saying…

While everyone was distracted by what Charles Krauthammer delightfully described as, the “Starbucks-sipping, Levi’s-clad, iPhone-clutching protesters (of the Occupy Wall Street movement who) denounce corporate America even as they weep for Steve Jobs, corporate titan, billionaire eight times over…,” a new social uprising term has entered the public discourse. Saturday, November 5 is “Bank Transfer Day.”

According to the uprising’s meager beginnings on Facebook, created by a small business owner, Kristen Christian, 27, a small art gallery owner in Los Angles, citizens are encouraged to take their money out of the blood-sucking vampire squid mega-banks and put it in smaller community banks or more specifically, credit unions.

Ms. Christian owns “Le Spec,” an independent art gallery. She spoke for many when she answered a question from Jen Doll, in a Village Voice article: Why did you decide to do this?

“Mostly just, I was tired. I was tired of being charged bank fee after bank fee after bank fee… When they decided to react so negatively to the Durbin Amendment, that made me sick…”

As opposed to the Occupy Wall Street protests, which appear to be a mobocracy of themeless, clueless anarchists on holiday, Bank Transfer Day has a well-defined and articulated goal, with a specific action plan.

Even National Public Radio, which never met a leftist cause it could not wholeheartedly support, with our tax dollars, could not fathom what the Occupy Wall Street protestors were trying to say

Much of the mainstream media and leftist Democrats want you to believe that Bank Transfer Day is an offshoot grass-roots effort spawned by the Occupy Wall Street anarchists-without-a-clue.

Nothing could be farther from the truth...  

http://www.thetentacle.com/ShowArticle.cfm?mydocid=4695


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Tuesday, October 18, 2011

Cadie Thompson - CNBC.com: Occupy Wall Street Backs a Nationwide Boycott Against Banks


Occupy Wall Street Backs a Nationwide Boycott Against Banks

Published: Friday, 7 Oct 2011 | 1:21 PM ET
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By: Cadie Thompson
Producer, CNBC.com
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In an effort to send a message to big banks, some organizers, who are supported by the protestors of the Occupy Wall Street movement, have organized an event to remove all funds from banks and into credit unions.
Organizers are calling the event "Bank Transfer Day"and are encouraging people nationwide to participate November 5.
The Facebook page for the event states the following:
"Together we can ensure that these banking institutions will ALWAYS remember the 5th of November!! If the 99% removes our funds from the major banking institutions on or by this date, 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."
So far over 6,500 people have RSVP'ed for the event.

The participants of "Bank Transfer Day" take issue with the response of big banks' to theDurbin Amendment, which is an addition to the Dodd–Frank Wall Street Reform and Consumer Protection Act that caps the debit interchange fees banks can charge merchants.
The organizers claim the banks will begin to charge their customers $3-$5 fees to off-set the money they will lose because of the interchange fee cap.

The event's Facebook page states:



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