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FBN’s Gerri Willis on the impact of “Bank Transfer Day” and banks backing off of efforts to charge debit card fees.
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Bank transfer -- it had the media transfixed.
Reporters all over the country have been scrambling to determine how many consumers.
Moved to credit unions or small banks to protest fees at larger institutions.
And the truth is we don't really know the total numbers not yet anyway.
By by most estimates the total won't threaten big money center banks that's because money center banks have literally millions and millions of accounts.
Look banks didn't drop plans to institute a debit card fee because they were worried people would take their accounts and go.
What they didn't like was the negative publicity -- -- have become a laughing stock on late night TV.
The reality is that the consumers have already want.
Banks backed -- for whatever reason that's a win for consumers.
And consumers should continue to push for products in terms they want.
Voting with your -- is a good thing but sometimes just the threat -- -- is enough to force action.
