How a 22 Year Old Took on Bank of America

Molly Katchpole, 22 years old, took on Bank of America over its ridiculous debit card fee and won. Just goes to show what happens when people decide to stand up to power. From the Guardian:

I called on Bank of America to back off the new debit card fee, knowing that if Bank of America did, the other banks would, too. I was unprepared for the outpouring of support I got online from others who felt the same way. I never thought of myself as an activist before this, but suddenly, thousands of people were signing my petition each hour – sometimes, up to 40,000 per day.

In the end, more than 300,000 people from all walks of life had joined the campaign. And what is even more awesome, it has inspired dozens of other people to start their own campaigns against their banks. Those 300,000 voices brought unimaginable pressure on Bank of America. Brian Moynihan, Bank of America’s CEO, was forced to answer to us on national television. The other big banks, facing an outpouring of customer outrage, were eager to ditch their fees and avoid the same public pummeling Bank of America got. Once Bank of America stood as the last major national bank considering such a fee – and the primary object of American consumers’ anger over outlandish banking fees – it had no choice but to stand down.

Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.