Bank Transfer Day, Absorb Wall Street and also Bank Transfer Day are not formally affiliated, however the 2 actions haul potency and efficacy through similar sentiments: customers fed up with relying on banking institutions which they reason make the most of them done loaning practices and costs. Though the push for that bank transfer motion started along with Kristen Christian, a 27-year-old Los Angeles-based entrepreneur, Occupy Wall Street protesters have become some of the most visible supporters of Bank Transfer Day, allowing them to thrust the actual conversation encircling Saturday's deadline.
Some news reports have people being asked to switch to community banks or credit unions.
Here’s what a few banks have to say:
• “We’re seeing an increase in account openings of 25 percent
year-over-year. It’s incredible,” said Eve Callahan, senior vice
president of corporate communications at Umpqua Bank. “We’ve seen a lot
of traffic over the past few weeks. People are recognizing that a Wall
Street bank is a very different entity than a Main Street bank. That’s
something that people understand.”
• “We understand that people
are looking for more from their fianancial institutions,” said Lara
Underhill, spokeswoman for Wells Fargo. “If a customer chooses to close
an account, we will try to address any of their concerns. We understand
that while we can’t control what people do to express their views, what
we can do is to continue to provide jobs and services to our customers
and our communities.”
• Steve Maxwell, President of KeyBank’s
South Puget Sound District, said, “As bank customers consider whether to
move their accounts to a credit union or small community bank, we
recommend that they consider how well all their financial needs will be
met. KeyBank offers the best of both worlds – financial strength, a
local community presence, and a broad range of products and services
that smaller banks can’t offer, delivered locally. As for imposing new
debit card fees, Key is going in a different direction.”
