SPANK YOUR BANK!

Please distribute these posters, suitable for printing!
The black and white one can be printed on any copier and distributed at supermarkets, coffee houses, schools, and any public venue with a bulletin board!

The Parental Trap / Spank Your Bank

There comes a time in each of our lives when circumstances compel us to drastically change the relationships we have with certain others, and our roles in those relationships may be forced to change as well. Changing roles is not always an easy thing to consciously do. It frightens us if we think about it too much, yet we often do it unconsciously throughout the course of our day. When we reach that point of knowing that a change is necessary, sometimes it is better to just act than to think too heavily about it. Change never comes if we talk ourselves out if it.

For as long as many can remember the banks have adopted a stern paternal role - writing the rules and handing out discipline - and we've accepted the role of the child - dutifully depositing money into our accounts, handing more of our money over to the banks as payment for having done some form of misdeed in their eyes, and accepting the diminishing crumbs (ie: interest) the banks have handed us as some sort of reward - because we have allowed ourselves to be convinced that this is the way the power structure is, and these are the things that the "parent" expects of us.

Meanwhile the banks have taken the power we've lent them and used it as a fifteen year old boy might - greedily and recklessly and with the arrogance that comes with quickly amassed and ill-gotten power. The banks show a smug indifference toward public opinion and they thumb their noses at the government. Spoiled little brats, all of them.

Now with each passing day - each new fee - each increase in your interest rate - it becomes more and more obvious that we have to turn the tables on these out-of-control-teenagers we commonly refer to as the banks, and assume the parental role. It's a matter not only of what is right, but of our survival as well. Congress won't do it. Too many of our dollars have been used by the banking industry to lobby against us and our best interests. That means it is up to US to make the changes happen.

I've been asked why it shouldn't be enough to move one's money to a smaller bank or credit union - without having to hand a bank employee an envelope containing the Proclamation. I spelled out some of my reasons in a previous entry, but there's another reason.

It is common when you have a child who is misbehaving to take away something it values so as to encourage that child to correct its behavior. To the child the incentive to improve lies almost completely in the promise of a reward at the end. Usually that's understood to mean returning the item. Sometimes it means replacing it with something else of equal or higher value. In any case, the reward is the carrot we dangle in front of children to entice them into developing better patterns of behavior.

But... without direction the kid can flounder around a long time before figuring out exactly what change in behavior is going to win them their reward. So we give the child instructions to help him/her correct their behavior faster, and tailor it to our liking. Bearing that in mind, if we do not give the banks instructions - if we do not tell them what we want - it could be snowing in hell before the bankers figure it out. You see, bankers are a crafty lot. They are sneaky, sly, and unscrupulous. But what they are NOT is SMART. They can come up with the most unbelievable reasons to charge you a fee and some even more unbelievable justifications for charging it. But they are apparently not smart enough to comprehend that their actions are driving customers away.

Now, a smart person would look at the situation and say, "Okay... something here isn't working. Maybe we should stop doing the things that are causing us to lose business." But have they done that? No. Instead the banks just pass the burden of their losses on to their remaining customers by increasing their fees and interest rates.

The smart money says that's a sure-fire way to run your business aground. Even though they need no pointers on how to do this, I've prepared a list of the five steps any big bank CEO may use to successfully tank his bank:

1) Don't lend money.
2) Keep raising existing fees and inventing new ones.
3) Pass the burden of your profit "losses" on to your remaining clients.
4) Refuse to work with customers when they address you with problems.
5) Use "Customer Service" as a euphemism for your collections department.

As you can see, Bank of America is employing every single one of these practices. Since they are doing it there's no doubt that other banks are doing the same as well. Thus it would seem that the banks are not smart enough to see how the greed and corruption that has infected their industry is hurting them, or how they are positioning themselves for a failure they believe they are too big to suffer.

And this is why we are obligated to be the parents and give the banks a swat on the bottom and a new set of rules. The rules will keep the banks focused on what we will and won't allow - what is acceptable behavior and what is not. And this will permit them to grow up. Mature a bit. Perhaps even develop an attitude of gratitude (you'd be surprised at how much gratitude can come out of someone who has very few options).

"PROC 7", the Proclamation of Required Change, is our behavior guide for the banks. It is a tool for restoring the proper balance of power between the banks and us. It is a powerful gift that we give the bank which can help them remain solvent while creating a much better relationship with its customers and a much better future for our nation's economy. Think of it as "tough love", for that's what it is.

People I meet have been agreeing that it is far better to tell the banks what we expect them to do following the withdrawal of our money than to silently withdraw our money and put it somewhere else. So let's all be the "good parents" and give the banks a dose of some much-needed tough love. We shall all benefit from the results!

IMPEDING RECOVERY

I'm sure that I'm not alone in thinking that the recovery from this recession is not progressing as rapidly as hoped. But are you aware that one of the prime culprits impeding the economic recovery is the banking industry? That's right... the very industry that plunged us into the recession is now preventing the economy from recovering as quickly as it could. Surprised?

We have all heard that the banks aren't lending money. And we know that the health of the economy is measured in part against the amount of lending going on. So, by not lending the banks are applying a soft brake to the recovery. However there's more. The banks also collected billions of dollars in fees last year. That means that billions of our dollars never had a chance to make it into the consumer stream. Businesses collectively lost billions of dollars in revenue and we, the public, lost billions of dollars in buying power in 2009 alone. And of course, adding insult to injury, the only reason the banks collected all of that money was to impress investors and siphon it up to the do-nothings at the upper executive level.

In other words, a few greedy men are prolonging the recession by pinching your purchasing power.

Let's say the bank took $1,000 from you in fees last year. That's about a month's worth of groceries for a family of four. Because the bank took that money you were not able to buy some of the things you wanted (or needed). The merchants who would have benefited from your purchases lost that business because the bank had pocketed your money - and the money of every other customer who those merchants depend on. Some businesses have been forced to close because the banks have purloined more money from their account holders than they are entitled to. This causes an increase in joblessness. And even if you haven't lost your job to the bank-created recession, the bank-created shortages in your bank account have probably caused you to go without certain necessities as well as other things.

And that's how the banks are single-handedly killing the American Dream.

That's why it's doubly important that we take our power back from Bank of America and the other "too big to fail" banks as soon as we can. Once we have regained our power and the banks are following our edicts we can get the economy back on track through spending, trading, and borrowing again. Keep telling your friends about this movement. Go and replace your money at Bank of America or your other big bank with the Proclamation. Let's turbo-charge this protest now and get our economy on the fast road to recovery.

Oh, and by the way... when you hear or see the phrase "Too big to fail" please remember that the Titanic was touted as "unsinkable" and too big to fail. Such claims rarely ever hold water.

Spread the word with banners

Here are a couple of banners you can copy and use in your blogs, on facebook, etc.

Frontline: The Card Game

If you missed the PBS Frontline episode "The Card Game" I recommend you take some time to watch this very enlightening program. What amazes me most about the people interviewed is the smugness and sense of entitlement the executives in the credit card industry have when it comes to the sneaky ways they have devised to get wealthy off of OUR money. They are actually proud of the fact they created so many ways of swindling the less well-to-do in our nation (and the world) to make themselves rich.

This is definitely recommended watching!
http://www.pbs.org/wgbh/pages/frontline/creditcards/view/

Also, if there are any other ideas you think should be added to the Proclamation, let us hear them! What do you think is important enough to add? Write it here! And if your ideas are very important to you, please feel free to add them to your Proclamation using additional sheets. The more great ideas that are out there, the better an understanding the banks will know what we want and expect, and ultimately the better for us.

Go ahead... let those creative ideas flow!

My day at B of A

So... I went into my branch of Bank Of America armed with 2 copies of the Proclamation Of Required Change - one signed and dated. It was a cold and rainy day here in Los Angeles - the perfect Hollywood effect for my "breakup scene" with the bank.

Upon entering, the greeter asked me if I needed any help, and I told her I wanted to see the branch manager. Sara, the branch manager, is a lovely person who had tried to help me resolve my fee issue with the bank back in December. As much as she worked to get matters overturned, the powers that be at the bank overrode her attempts and the matter was not (and still is not) resolved to my satisfaction. When I told her I was emptying out my account she understood, and she seemed genuinely saddened by the news.

Ideally, Sara is the kind of person the bank needs at its higher levels. She welcomes and assists every person who comes her way with equal attention and concern, with no regard for how much or little money that person has invested in the bank. And I think she feels a certain amount of responsibility when her employer screws over her customers. But Sara is on the ground floor as it were. She is part of the facade that BofA creates at the customer level to hide the ugliness that happens upstairs. And I know that this woman isn't making enough money considering that she has to walk that fine thread between doing what is right to keep the customer satisfied while at the same time having to satisfy the greed of her employer - which often runs counter to what is best for the customer. She has to take the brunt of all of the anger that her customers feel because of the bank's toxic practices. Some days it must be hell for her, knowing that despite her best efforts and the humanitarian concern she feels for everyone she encounters, she is nonetheless powerless to do what needs to be done to salvage a customer relationship after the bank has done everything in its power to destroy that relationship... like the almost-14-year relationship I have had with BofA.

Well, anyway, I presented Sara with both copies of the Proclamation - the one signed, sealed, and addressed to the regional manager, and one for her to read. She took a few minutes to look over the demands (the item about NSF fees especially intrigued her). After reading the Proclamation she asked if I would mind if she set up a meeting between me and her higher-ups. I agreed, but I also let her know that I would still be taking my money out of the bank that day and not re-depositing it unless and until the demands in the Proclamation were met by the deadline. She graciously understood and then checked my account to make sure I had no pending transactions. Satisfied that my account was free and clear of any such incomplete transactions, Sara then took me over to the teller window and had the teller return all but one dollar to me, per my instructions.

It was apparent that the request didn't fully register with the teller. But whether or not he understood was immaterial. He followed my instructions and gave me my money. Wow... talk about feeling a sense of accomplishment and freedom! It felt GOOD to take my money out of the bank - and to leave them with the Proclamation to chew over in their next meeting.

I am awaiting further information regarding the pending meeting with Sara's supervisor(s). It will be interesting to see what they bring to the table. And of course, I will keep you posted and report the results of the meeting back to you once it has occurred.

In the mean time, please go ahead and continue to pull your money out of Bank of America and give your teller or branch manager your signed copy of the Proclamation. Let's keep this movement going! Also, please feel free to relate your experiences here at this blog or on my Facebook page (John Quincy Adams) or join my Facebook group (Bank Of America, we demand change!) and make comments if you have any. Your feedback is most welcome!

Is Huf's "Moving Your Money" Enough?

For several weeks the Huffington Post has been encouraging its readers to pull their money out of the Big 6 banks and invest it in smaller, more community-oriented banks. I have to say I am definitely behind Ariana Huffington 110 percent. It is time we leave the toxic relationships we have with our larger banking institutions and return banking to the community. But even though I am in agreement with Huf about the idea, I feel it just isn’t enough. The plan falls short of reaching its potential. And here’s the reason I say that…

To start with, banks stop working for the community when they get to be too big (or get bought up by bigger banks). Money has a corruptive quality about it when there’s a lot of it in the same place. We should be cautious about bank-building as the cycle of bank corruption could easily repeat itself if a financial institution should grow too rapidly.

My second concern, and perhaps the more valid of the two, is that by simply walking into a bank and closing our accounts we aren’t helping the bank (and by "the bank" I mean the upper echelon of executives at the bank) fix its problems. Heads will roll once the number of runs on the bank reach a certain critical mass, however without knowing why we are leaving and what it would take to keep us or regain our trust, I’m afraid those wicked little men at the top of the company will be completely perplexed.

OK… for the point of illustration, let’s say that someone who you considered a good friend just got up and walked away one day with no explanation. The reason they walked out of your life was because you had a history of being rude and argumentative and your selfish lack of compassion hurt them too many times. But they didn’t tell you this. So, you wonder about it for a few days, and then just go on with your life - never thinking that what sent your friend and many others away was your really crummy behavior… and thus never changing as a result. But if you knew what it was that your friend and others found so distasteful about you, you could face it head on and try to change yourself for the better. The same is most likely true of bankers as well, although there’s a thick crust of corruption and entitlement that has to be jackhammered first and that could take a while.

That is why I believe it is in our best interests overall to provide the bank with a list of reasonable demands at the time we withdraw our money. This will give the bank something to focus on in its attempt to regain the public trust. It lets them know in no-nonsense language that we are fed up with the way they have been conducting business and that sufficient changes are going to have to be made if they are to ever see our business again.

If this were only about Bank of America I think I’d acquiesce to just pulling out our money and letting the chips fall where they may. But the problems that plague the depositors and customers of BofA are industry-wide. BofA is just a bit more aggressive than some of the others. The distribution of the Proclamation will have much more far-reaching results as other banks start to understand we mean business… and that our business can be won by conceding to as many of the demands as possible. Ideally, a race to see which bank can "nicen up" the best and quickest could ensue, and that could definitely work in our favor.

Nearly all of us here may hate Bank of America for one reason or another. I support that. But I do feel as though we owe it to OURSELVES to draw up our human compassion and help the bank understand the error of its ways, and what it will take to fix them. A lot of good can come of this.

To Ariana Huffington, YOU GO GIRL! But be sure to bring one of our proclamations to the bank when you yank your moolah out.

IT'S TIME TO TAKE CONTROL OF OUR MONEY

Bank of America customers, take charge of YOUR money. The time has come for action! Peaceable civil action. Congress is weak and its decisions are corrupted by corporate money. In order to achieve true bank reform it is time for the People of the United States to do what Congress cannot. We must revolt.

If you are tired of Bank of America's treatment of you as a customer - the abusive fees, the practices designed to generate those fees, the abuse from the customer service division, unwarranted credit card interest rate hikes, the redistribution of your income to generate enormous wealth for a select few bank executives, and the overall lack of gratitude shown you for depositing your money in their vaults, then NOW is the time to show Bank of America who's REALLY in charge. They ain't got nothin' if they ain't got our money.

Join the growing movement of BofA customers who are regaining control of their money. Throughout the month of February, we are withdrawing our money from BofA and replacing it with a Proclamation of conditions designed to direct the bank toward the practice of gratitude rather than greed. The 7 conditions are described below, and are written in a proclamation which you may copy and print and bring to the bank with you when you withdraw your money.

Read the information below and if you agree with the terms, follow the simple directions and TAKE BACK YOUR POWER. And, forward the link to this page to all of your friends, family, work associates, etc. and share this page through Facebook, Twitter, MySpace, and help make this thing go viral. The more people who pull their support from Bank of America this month the better our results will be.

Thank you so much for your grass-roots support!!! Together we CAN make a difference!

The Proclamation Of Required Change

(If you agree with the following conditions, please copy, save and print the following Proclamation. This is what you will bring to the bank with you when you withdraw your money.

Please note: If you do not bank with Bank of America you will need to change the five references to "Bank of America" [shown in italics] to the name of your bank in the first paragraph and last 2 paragraphs of this Proclamation.)
____________________________________________________________________

PROCLAMATION OF REQUIRED CHANGE

WE, the Depositors of Bank of America, proclaim that, in order for us to continue allowing the Bank the enjoyment of the use of our money, certain changes to the Bank’s policies MUST be made. No longer will we permit the Bank to use our property in a manner that is injurious to our own financial health and which steals from our own quality of life while making a select group of individuals within the corporation exceedingly wealthy.

Be it understood that as Depositors we have chosen to invest in and support the Bank. Too often the Bank has abused the privilege of borrowing our money, and because of these heinous practices we are now withdrawing our investment and support. The following changes to Bank procedure MUST be made before we will return our funds to the Bank.

ITEM #1: MINIMUM BALANCES
No longer will the Bank charge Depositors a Minimum Balance Fee when Depositors choose, for whatever reason, to not keep as much money in their account as the Bank would like. To penalize Depositors for the kindness of lending the Bank our money is an abusive action toward the Depositor and we will not subject ourselves to this abuse any longer.

If the Bank should like to have its Depositors maintain a minimum balance, the Bank may offer premiums to its Depositors as an incentive. Such premiums may include, and are not limited to, free checking, higher interest rates paid, lower interest rates on credit card balances, free or discounted rates on safety deposit boxes, free tax software, free traveler’s cheques, etc. Incentives must REWARD the Depositor for permitting the Bank to have access to his money, not punish him for lending the Bank less money than the Bank might like.

Premiums and incentives may be tailored to the AMOUNT of minimum balance the Bank would like from its Depositors, and a tiered schedule is acceptable.

ITEM #2: NSF FEES
No longer will the Bank charge blanket $35.00 fees for overdrafts. Instead, the Bank will only charge an amount equal to or less than the amount overdrawn. In other words, if an item creates an overdraft of $5.00, the penalty may only be $5.00 or less. By the same token, if the amount overdrawn is $135.00, the NSF fee may also be $135.00 or less. The Bank’s current structure of overdraft fees hurts the very people who can least afford them. This policy must come to an end immediately.

Furthermore, the Bank will extend its late repayment penalty from its current 5 day limit to 15 days to accommodate the needs of its customers. This extension will allow Depositors the needed time to receive their paychecks so that they may repay the delinquent amount. If, after 15 days the delinquent amount is not repaid, the Bank may then assess a fee of no greater than $35.00 in amount.

ITEM #3: INTEREST ON DEPOSITS
The Bank will, from now on, award Depositors interest on all savings account deposits, no higher than the Prime Lending Rate but no less than 4%. If the Prime Lending Rate should drop below 4%, the Bank will still maintain the rate of 4% on interest paid to Depositors.

Money deposited into the Bank is money ON LOAN to the Bank. Therefore, the Bank will pay an appropriate amount of interest on the loan made it by the Depositor for as long as the Bank shall borrow, hold, and freely use the Depositor’s money.

ITEM #4: PROCESS ALL CREDIT CARD PAYMENTS IN REAL TIME
The practice of charging a late fee on credit card payments made on a weekend is an abusive practice. Because payments are logged electronically there is no justification for this. The bank does this so that it may have an excuse to charge a higher interest rate on a customer's card.

The bank will now make sure that all credit card transactions and payments are processed in real time, in the order the transactions are made.

ITEM #5: PROCESS ALL DEPOSITS, DEBITS, AND ATM TRANSACTIONS IN REAL TIME
Again, as most of these transactions are handled electronically there is no reason whatsoever that they cannot be processed in real time in the order that they occur. As the Bank rearranges the order of transactions to try and generate a greater number of NSF fees, this practice is also abusive. There is no reason that transactions cannot be processed in the order that they are time-stamped and that real-time balance information cannot be made available.

We demand that the Bank exercise due diligence in the proper and timely handling of all transactions. No exceptions.

ITEM #6: CAP EXECUTIVE PAY
This bank is using its fee structure to force its Depositors to part with their hard-earned money so that the bank may redistribute the wealth to a select few of its executives. This is an abusive policy designed to bite the hands that feed it. Furthermore, executives receive gigantic bonuses regardless of whether the company does well or not.

As a person whose income is used to create extreme wealth for someone else, I demand that this bank cap its executive pay to a percentage of the Bank’s income (max. 0.00125%) and that all executive bonuses are also calculated based on actual annual profits (max. 0.00015%).

ITEM #7: GIVE BACK TO THE COMMUNITY
Nothing says ‘thank you’ to the people like giving something back to us as a way of showing gratitude for our assistance in helping you earn a profit.

We insist that the Bank shall return 3.5 percent of its annual net profit back into the community to help those in need. Education, food, and shelter are three of the most needed services toward which the Bank can direct its new Relief Fund. An additional 0.5%, and/or any funds left over from the 3.5%, may be used to support sporting games, plant trees, sponsor cultural events, and other less-essential causes.

As of today I have withdrawn my money from Bank of America. I am requiring that these seven demands must be met if the Bank is to again enjoy the use of my money.

I, _____________________________________________, and my fellow Depositors at Bank of America present the above demands as necessary changes on the part of the Bank if I/we are to continue a relationship with the Bank. These are not suggestions. These are CONDITIONS OF DEPOSIT. Bank of America will change its practices of greed into a policy and demonstration of GRATITUDE if it is interested in maintaining me/us as a customer.

IF THE ABOVEMENTIONED CHANGES ARE NOT IMPLEMENTED BY MONDAY, MAY 2nd, 2010, I/WE SHALL CEASE OUR PRACTICE OF LENDING BANK OF AMERICA OUR MONEY.

_________________________________________________ ____________________________
(signed) (dated)

_________________________________________________
(account number)

More information is available at http://wedemandchangenow.blogspot.com/

THE DEMANDS EXPLAINED: ITEM #1: NO MORE MINIMUM BALANCE FEES

When we open an account at the bank, we are choosing to lend our money to that bank. So what gives the bank the idea that it can charge us for not lending it as much money as it would like? It’s our money and WE are the ones who determine how much we are willing or able to lend the bank. That is not for the bank to decide. The bank believes that it rewards us for keeping a minimum balance by NOT charging us a penalty. Some reward... it's a slap across the face of the depositor. Where does the bank get off doing that? And where’s the gratitude?

Demand number 1 is to abolish minimum balance requirements and fees. If the bank wishes to have its depositors keep a certain amount of money in our accounts, they can demonstrate their gratitude for our generosity by offering us premiums. Such premiums could include:
Free checking
Higher interest rates on savings accounts
Reduced credit card fees
Free traveler’s checks and cashier’s checks
Free or discounted safety deposit boxes
Airline miles
and other similar "positive" incentives.

Because we are the source of the bank’s holdings and income, it is the bank’s responsibility to demonstrate its gratitude to us if it would like to continue enjoying the use of our money. Every one of us should be given the assurance that the bank appreciates our business and is grateful to have it, regardless of how much or how little money we have entrusted to the bank.
Remember – if your supermarket butcher said he’d have to charge you a fee each time you didn’t spend $40 at his counter you’d tell him "No deal" and take your business somewhere else. So why do you let your bank charge you for not "spending" enough in their bank?

Sorry Bank of America, we're not allowing that any more.

ITEM #2: NO MORE $35 NSF FEES

Is there a bank practice that is more harmful to a great percentage of its depositors than the $35 NSF charge? The bank uses the practice of processing transactions from greatest to smallest to increase the chances that this will create more NSF fees from small transactions which in turn will create a debt of hundreds of dollars against your account. You’ve heard of the $40 cup of coffee? Congress' new policies regarding NSF fees will not eliminate the $40 cup of coffee.

This plan will.

Demand number 2 is that the NSF fee for any transaction that causes, compounds or perpetuates an overdraft may only be as high as the amount overdrawn.

If the overdraft is $2.00 the NSF fee is $2.00. If the overdraft is $200.00 the NSF fee is $200.00, and so on.

The Bank may actually make more money this way, and the burden wouldn’t be so heavy for the Bank’s lower income depositors.

ITEM #2a: EXTEND LATE REPAYMENT PERIOD FOR OVERDRAFTS

Bank of America recently added a new nuisance fee to pilfer more money from its customers - especially its lower-income customers. If an overdraft (including associated overdraft fees) is not repaid to the bank within 5 days the bank charges an additional $35 as a late payment fee.

This demand of repayment within five days adds anguish on top of insult to each customer affected by the fee, especially if they must wait more than 5 days for their next paycheck. And it steals money from the pockets of the people who need the money the most.

Demand number 2 also requires that if the bank would like to charge a late repayment fee for a customer’s failure to pay back the overdrawn amount, the bank will allow the average amount of time between a worker’s pay periods (15 days) before assigning this fee.

ITEM #3: PAY PRIME INTEREST RATE ON ALL MONEY LOANED TO THE BANK

When you put your money into a bank account you are loaning the bank your property. The bank then uses your money to make income for the bank. When the bank loans you money they charge you interest based on the Prime Rate, but when they borrow it from you they pay you next to nothing to use it. Now, why shouldn’t YOUR money work equally as hard for you as it does for them?

Without the public's money the bank doesn’t exist. Don’t you think it makes sense that the bank should show us its gratitude for our generosity and faith by rewarding us with a decent interest rate on the money we lend it through our savings accounts?

Demand number 3 is that we now require the bank to pay interest on all monies we loan to it, at the same rate as the prime lending rate, with the provision that the rate of interest paid the account holder will never fall below a minimum rate of 4%.

ITEM #4: PROCESS ALL CREDIT CARD PAYMENTS IN REAL TIME

A sneaky little trick the bank does is to charge you a late fee on your credit card payment if you make your payment over a weekend. Because payments are logged electronically there is no justification for this. The bank only does this so that they have an excuse to charge you a higher interest rate on your card.

Demand number 4 is that all credit card transactions and payments are processed in real time.

ITEM #5: PROCESS ALL DEPOSITS, DEBITS, AND ATM TRANSACTIONS IN REAL TIME

Again, as most of these transactions are handled electronically there is no reason whatsoever that they cannot be processed in real time in the order that they occur. Not only is that the proper way to process transactions, it is also organic and natural. The bank has had to come up with software programs that prevent transactions from being processed in real time, otherwise known as "batching". Batching also re-orders transactions from highest dollar amount to lowest so as to create a larger number of NSF fees should you run out of money in your account.

It is one thing (although not a very nice thing) to profit on the mistakes of others. It is another thing entirely when the bank creates procedures that help the customer make those mistakes - and in fact makes them worse - and then punishes him. Some things are just so obviously wrong that it shouldn’t be necessary to point it out. This is one of those cases… so why are WE having to tell the bank that it’s wrong?

Demand number 5 is that the bank exercise due diligence in the proper and timely handling of all transactions in the order they occur. No exceptions.

ITEM #6: CAP EXECUTIVE PAY

The banks are using their fee structure to force you to part with your hard-earned money so that they may redistribute the wealth to a select few executives. This is an abusive policy designed to bite the hands that feed it. Furthermore, executives receive gigantic bonuses regardless of whether the company does well or not (and whether it is legal at the time or not). Ken Lewis walked away from B of A with a reported $53 Million bonus. How much of that did you fund last year? And was your bonus anywhere near $53M?

This redistribution of wealth steals from your quality of life. Imagine how the money you paid Bank of America in fees last year could have worked to enrich you. But you had to deny yourself certain of life's pleasures because the bank president was busy getting fat off of your hard earned money.

Demand number 6 is that banks cap their executive pay to a percentage of the bank’s income (max. 0.00125%) and that bonuses are also calculated based on annual profits (max. 0.00015%).
We do not put our money in banks for it to be used to pay obscene salaries and bonuses to the company’s head honchos. It is safe to say that most of us would like to retain a good portion of what goes into the bank executives’ pockets. By capping the executive pay, the bank will no longer need to collect as much in fees.

ITEM #7: GIVE BACK TO THE COMMUNITY

Nothing says ‘thank you’ to the people like giving something back to us as a means of showing gratitude for our assistance in helping you earn a profit.

Demand number 7 is that the Bank will pipeline 3.5 percent of its net profit back into the community to help those in need. Education, food, and shelter are three of the most needed services toward which the Bank could direct its relief fund. An additional 0.5%, and/or any funds left over from the 3.5%, may be used to support sporting games, plant trees, sponsor cultural events, and other less-essential causes.

These are to be charitable donations to the community. The bank may receive the appropriate advertising and it can write the donations off, but it may not be granted, possess, or assume any ownership or directorial activities of the charities or causes to which the money goes. The bank may NOT donate to any private cause or charity with which any of its upper executives and/or family members are involved financially, politically, socially, or otherwise.

Banks have done considerable damage to our economy. Bank of America has done more than its share. It is now time that the bank demonstrate its gratitude and good will by helping rebuild the communities it has allowed its greed to destroy.

WHY WE MUST DO THIS

You might be wondering why we should do something as drastic as pull our money out of the bank and leave a set of demands in its place when Congress has been putting together new rules for the banks to abide by. Well, here’s why. Congress is weak. It is corrupt and ineffective, and you can be guaranteed that nobody on Capitol Hill has the backbone to do what really has to be done to restore order to the failing and corrupt banking system. They threw money at the banks and now we’re back to the same old business as usual that brought this country to its knees.
When Congress fails the people – when it no longer serves the best interest of the citizens – it becomes the responsibility of the citizenry to take charge of the situation and do what needs to be done and which Congress cannot bring itself to do.

There is nothing wrong with taking your support away from a business that has shown you disrespect, has not earned your support, has treated you poorly, charges you excessively, or has engaged in risky and criminal activities involving your money. If it were any other business… your local butcher, your gym, your coffee shop… and you were treated with the same level of contempt, you would stop doing business with them, plain and simple. All we are doing is applying that same sensible principle to Bank of America, PLUS we are giving them a master list of things that they can (and must) do if we are to again do business with them.

WHY BANK OF AMERICA?
BofA is one of the largest banks in the US. And it is one of the most aggressive when it comes to fees and other collection practices. They have more than set themselves up for this sort of protest. If Bank of America is forced to make changes to its policy to keep from going under from a rapid lack of support, the other banks will have to follow suit. We do not mind if you bank elsewhere and join in our protest by withdrawing your money from your bank (and giving the teller the "envelope"). That would be awesome. The more people on board the better!

YOU'RE NOT A SMALL FISH IN A BIG POND!
An ocean doesn’t start out as an ocean. It grows by one drop of water at a time. You may feel that taking your money out of Bank of America won’t have much effect. And by yourself it won’t. But there are many thousands of BofA customers who are angry and dissatisfied with the bank, and plenty of other customers who would like to see these changes made not only at BofA but at the other giant corporate banks as well. If you agree with any or all of the demands outlined in the Proclamation and would like to see them implemented, go pull out your money and hand the teller the Proclamation. Also please contact everyone you know who is a BofA customer and inform them that there is a movement underway to turn the banking industry’s greed into gratitude and it needs their support. Send your friends links to this page. Make this thing go viral. And before you know it we’ll all be a part of an ocean of necessary change.

OK, SO HOW DO WE DO THIS?
Simple. Just go to the bank and withdraw your money. There are three suggested plans as to how to go about this.

Before you go, print out a copy of the Proclamation and put it in an envelope. Write "For the District Manager" on the envelope. When you withdraw your money, politely thank the teller or customer service agent and then hand them the envelope. Take your money and walk out of the bank. It’s THAT simple! If you’d like, you may also comment on this page and tell us how it went.

Please do not use any abusive language or engage in an argument while in the bank. If the teller or agent asks why you are withdrawing your money simply tell them that the answers are all inside the envelope.

Here are the three plans for withdrawing your money. Choose the one that you think works best for you:

1) Withdraw all but $1.00 over your minimum balance. For example, if you have $1536.00 in your account and your minimum balance is $1,000 you will withdraw $535.00 leaving $1,001 in the account. This will help you avoid any minimum balance fees in the coming month(s). If the bank complies with our demands your account will be intact and awaiting your re-deposit. If the bank does not comply in the time allotted, return to the bank and close your account.

2) Withdraw all but $5.00 from your account. This will ensure you have an account through which you can cash checks if needed. You may also be fined a minimum balance fee if your account requires a minimum balance. If that happens it will be up to you whether you pay the bank that money or close out your account altogether. If you keep your account active you won’t need to open a new one (and order new checks, etc.) when the bank complies. And you probably will be able to afford to lose $5 if you choose to stiff the bank.

3) Close your account, lock, stock and barrel (as they say). If the bank decides to comply you can always go back at your leisure to open a new account. Or, you don’t have to. You might find a better financial institution simply by looking around.

In all cases, we ask that you deliver the Proclamation to your bank teller when you withdraw your money.

WHAT TO DO WITH THE MONEY AFTER WITHDRAWING IT?
That’s up to you. You can deposit it into another bank. You can try banking with a Credit Union for a change. You can keep the money under your mattress or bury it in your back yard if that appeals to you… anyway, it’ll do you just as much good there as it currently does at BofA.
Once the bank complies, bring your money back to the bank as its reward for doing the right thing. Should the bank NOT comply with the 7 demands, kiss BofA goodbye and use your money to support a different bank or credit union.

Bank of America has already told you through its abusive actions that it does not REALLY want your business. So why is your money still there?