Thousands of Americans cancel accounts in protest against banks
Over 84,000 people signed up to join the protest on the event' s Facebook page, and across the United States participants gathered to celebrate their mass departure from the world of corporate banking.
Many Americans have recently voiced frustration against the policies of the country's large banks, who despite accepting bailout money from the American taxpayers continue to impose high transaction fees that some customers feel is just too much.
"I was tired -- tired of the fee increases, tired of not being able to access my money when I need to, tired of them using what little money I have to oppress my brothers & sisters," Bank Transfer Day creator Kristen Christian said on her reasons for starting the event that has since inspired thousands.
Christian was one of the many Bank of America customers who objected to a proposed five U.S. dollar monthly fee for using the bank's debit card. The fee sparked such a national outrage that Bank of America recently moved to drop the issue entirely, stating on their website that they had listened to feedback and would not be going ahead.
For many Americans, however, the damage might have already been done.
The Credit Union National Association (CUNA) estimated that since Bank of America introduced their plans for debit card fees on September 29, over 650,000 Americans have joined credit unions, an alternative to banks.
Just these numbers for last month are already more than the entire total for 2010, for which CUNA estimated half a million people joined the nation' s over 7,500 credit unions.
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