Better East Texas: Social media conquers big bank fees - - Tyler, Longview, Jacksonville |ETX News

Better East Texas: Social media conquers big bank fees

By Pat Stacey

Recently, we have seen the incredible power of the people at work, demanding change, uniting for a specific cause and standing on their beliefs until resolution was reached.  I am not talking about the Occupy Wall Street movement, but the social media movement led by Molly Katchpole to get Bank of America and ultimately many other banks to reverse the decision to start charging debit card fees. 

Ms. Katchpole used an on-line petition, some publicity and great timing to garner more than 300,000 signatures and stand as a David taking on Goliath. 

At the same time many Bank of America customers and customers from other banks starting shopping their money and credit unions seem to have been the benefactors. 

But I point all that out to contrast her movement with the Occupy Wall Street group that has been successful only in getting its members arrested in cities across America. 

I said it before and it is hammered home in this contrast, the Occupy Wall Streeters have no firm agenda, no true national leaders and will never be able to claim victory – because victory has not been defined. 

It is refreshing to see the power of the people appropriately used in the example of the debit card fee decision and it perhaps sets the stage for further revisions in policy – either public or private – that can make a better life for many and can be carried out in a positive way.  It means democracy is still alive and it makes for a Better East Texas.

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