ABC news said a million customers had pulled their money from big banks.

Money talks.

in August. We got a nice rate reduction as part of the deal, and got the warm feeling that comes from screwing the capitalists. It was a winning move all around.

Thanks! I'll talk to my husband about our mortgage and if we could move it.

most don't...

sP

It went to Freddie of Fannie--I can never keep the 2 straight.

It went to Freddie of Fannie--I can never keep the 2 straight.

at least once. our most recent...the ink wasn't dry on the signatures yet and the loan was sold...

hate it...

sP

Assuming we deal with one snag, caused by Big Bank's online payment system.

Don't know who will end up holding the mortgage, though.

I believe it's crossing party boundaries. Enough is enough.

that is a billion out of their pockets

So I would believe a million since OWS begain.

Projected based on the first 650k accounts adding $4.5 billion.

"In a survey of 5,000 of its credit union members CUNA estimates that at least 650,000 consumers across the nation have joined credit unions since Sept. 29, the day Bank of America unveiled its now-rescinded $5 monthly debit card fee. Also during that time, CUNA estimates that credit unions have added $4.5 billion in new savings accounts, likely from the new members and existing members shifting their funds."

Per their last Annual Report, consumer deposits were $699 billion in 57 million customer relationships.

just wondering

Like most companies, their Annual Report and SEC annual and quarterly filings are available online on their web sites.

For most companies, go to their "About Us" page, and then to "Investor Relations" for links to such information.

Gotta start somewhere. Or do you think we should give up and let the rape continue?

:eyes:

So they shouldn't mind at all if we give 'em the Bronx cheer and tell to go play with their rich buddies.

Number of Households in America...about 125 Million..
57 Million depositor accounts at BofA? Pretty scary.

For example, I helped just one relative of mine move nearly 1/4 a million.. not that that number is
representative either,but it's just one customer who moved 200 times the hypothetical $1000.

I'd love to know how many DOLLARS were moved altogether, in past 2 months, including Nov 5.

That's more than 7 times the $1,000 assumed average per account.

The Texas story is posted in LBN:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x5049910

Those left will get stuck paying more fees somehow.

that we saved for today. We're completely CU as of today...3 of them, all relatively small, local and healthy.

edit: spelling :blush:

:shrug:

Some details would be nice. A link would be even better.

Why Many Banks Don’t Want Your Money

It’s been well-documented that consumer spending is down. Some consumers are spending less, quite simply, because they’re among the many members of the middle-class who suddenly find themselves with less money to spend. Others are spending less because, given the fragile, uncertain state of the economy, they feel compelled to save more. Banks are being flooded with deposits as a result, but guess what? They don’t want your money.

You might understandably assume that banks always take a more-the-merrier approach to customer deposits, and that therefore, they’d be happy that money held in commercial bank checking, savings, and money market accounts increased 10% over the past three months. But you’d be wrong, reports the Los Angeles Times.

Banks don’t exist simply to hold their customers’ money. Their purpose is to make money, and right now, as odd as it may seem, banks are implicitly sending the message that they’d prefer it if many customers would take their money elsewhere:

“Banks and credit unions are doing everything they can to get rid of the cash except make loans,” said Mike Moebs, a Lake Bluff, Ill., banking consultant.

He said banks are driving away deposits by refusing to renew CDs at higher rates and by imposing fees on checking accounts for depositors who don’t use other, profitable financial services as well.

More:
http://moneyland.time.com/2011/09/20/why-many-banks-dont-want-your-money/

lately on tv ads. They must want the bucks so they have more on margin to gamble with.

a fee for debit accounts after they saw accounts disappearing from their banks.

And why people were arrested for trying to close their accounts a few weeks ago.

Wait til this goes worldwide, the people have only just began. We are a bit late but better late than never.

can also walk.

I watched a clip of this earlier. Did anyone else notice that anger over foreclosures and bailouts were never mentioned? According to ABC we're all just about a $5 debit card charge or some other fees. Ah ABC... creators of 'The Path to 9/11' in which they fabricated events where the Clinton administration allowed Bin Laden to escape. They wouldn't allow former Clinton officials to preview the film and partnered with Scholastic Books to place a copy in ever school in America for free. Spending $40 million on the effort. No ABC/Disney/Mickey f*in' Mouse, I haven't forgotten.

Chickens come home to roost.

Potter, not so much.

The big banks are fucked....they have lost billions with the transfers....so they still have to meet their stockholders wishes and yearly projections....

how are they gong to do that? They will look for more fees to charge their remaining customers....that's right...when that happens....they will lose even more customers......

bwah...haw..haw...ain't life great!

moving money in the coming week, moving the business accounts as well. yay!

bernanke+geithner

and tell them to send the check$

nothing new there...

+

Just the beginning... =D

can't remember when's the last time I saw one!!

Although they won't admit it, they're feeling the pinch and, going by the content of the commercial, are more than a little concerned.

Good Job People!!! Continue!

:bounce: