Bank of America has been losing customers in droves since it announced it would start charging customers $5 a month to use their debit cards, and announced today it would scrub the new fees. Other big banks, including JPMorgan/Chase and Wells Fargo, chose not to follow BOA’s lead. Bank of America wound up looking like a bad guy — just like Netflix did when it doubled its rates and also lost customers in droves and the Netflix stock price tanked, too. So score another one for the little guy — three cheers for the customers who bailed on the BOA bogus charges. Does it pay to complain? Yes. Does it pay to take your business elsewhere when you don’t like how a business treats you? Yes, again. Here’s a NYCOTC thumbs up for all the consumers who voted with their wallets to tell Bank of America to take a hike with their fees hike.
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