There is a lesson to be learned from this week’s report that Bank of America has decided not to charge its customers a $5 fee for using their debit cards: the public can force change.
After an outcry about the new proposed fees from B of A and other big banks, Bank of America was the last to reverse itself and drop the fee. People do have the power to change the things they don’t like. Bank customers who would be subject to the new fees threatened to vote with their wallets, by pulling their accounts and and shift their money to other financial institutions.
The public should take note that en masse they have the ability to not only change a corporate policy but they could also change the way the country is run. With the proposed bank fees they voted with their wallets. We’d like the public to also vote with their votes. The middle class is the largest segment of the population; their votes can fundamentally change the country for the good.