A Triumph For The “Occupy Wall Street” Movement: Bank Of America Cancels $5 Debit Card Fee

People have speculated that the “Occupy Wall Street” movement, which has spread all over the nation and overseas, was an exercise in futility, but now those involved in drawing attention to the greed and selfishness of the top one percent, particularly in the form of banks and other financial firms, have won a major victory!

Bank of America had announced a plan for a $5 monthly debit fee on its customers, which had caused an outrage and plans for millions of Americans, in theory, to withdraw their accounts from BOA and other big banks, including Wells Fargo, JP Morgan Chase, and Citibank. The other banks had announced that they would not charge a similar fee, and now Bank of America has announced it is giving up the idea of a monthly fee.

This shows that the American people, if they organize, can have an effect, and this must be just the beginning, with the campaign for greater regulation and higher taxation of wealth the ultimate goal, and the insistence that politicians must side with the 99 percent, not the one percent which have become outrageously dominant and wealthy at the expense of the rest of the American population!

So this is a moment to applaud, but not the time to rest on laurels!