For Immediate Release
Michael Briggs (202) 228-6492
Sanders Credits Consumer Backlash for Bank of America Dropping Debit Fee
WASHINGTON - Sen. Bernie Sanders (I-Vt.) today credited a consumer backlash with forcing Bank of America to abandon its plan to charge its customers a $5 monthly fee to use their debit cards.
“I want to congratulate the American people. You did it. You took on the largest financial institution in the United States of America, and you beat them,” Sanders said in a Senate floor speech.
Other major banks, including Chase and Wells Fargo, said last week that they were canceling tests of similar fees.
Bank of America and the other banks withdrew their plans “because the American people said ‘enough is enough’ in terms of the greed of Wall Street,” Sanders added.
FRIENDS: Help Us Fight
Independent journalism has become the last firewall against government and corporate lies. Yet, with frightening regularity, independent media sources are losing funding, closing down or being blacked out by Google and Facebook. Never before has independent media been more endangered. If you believe in Common Dreams, if you believe in people-powered independent media, please support us now and help us fight—with truths—against the lies that would smother our democracy. Please help keep Common Dreams alive and growing. Thank you. -- Craig Brown, Co-founder
United States Senator for Vermont