NEWS FLASH

Senior Banking Official Says The 99 Percent Movement Has ‘Impacted All The Banks’ | Today, Bank of America announced that it will be dropping its planned $5 monthly debit card fee. The Plum Line’s Greg Sargent interviewed a “senior banking official familiar with the discussions about Bank of America’s decision.” The official credited the protests with helping impact the decision and “all the banks“:

“It’s all connected,” the official said. “There are a lot of issues out there that have added to the conversation. If you take a lot of customer complaints, and you add on to it something along the lines of the protest, it’s amplified the concerns. From our perspective it has clearly amplified things. It has amplified the concerns our customers have. It’s heightened the conversation. It has impacted all the banks.”