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Meet The 22-Year-Old Nanny Who Got Bank Of America To Eliminate Their New Debit Card Fee

Submitted by on November 7, 2011 – 2:01 pmOne Comment

If you’re still a Bank of America customer after the recent debacle involving the $5 debit card fee that they wanted to tack onto each and every debit card-carrying customer’s account every month, do us a favor and find a way to say thank you to Molly Katchpole. Because of her hard work, you won’t need to pay Bank of America a five-dollar fee anymore.

Molly isn’t a politician, though. She’s not a lawyer, either. And she definitely isn’t the type of person that you would expect to get a major bank to change their minds about a big decision. Rather, she’s a 22-year-old recent college grad who currently works as a nanny and has just a little over $2000 to her name. Yet, she just made a whole lot of Bank of America customers really happy by getting the bank to eliminate its idea to start charging customers $5 every month for using their debit cards.

So, how in the world did she do it? Well, pretty easily actually. She started a petition on Change.org about a month ago and asked people who were opposed to the $5 fee to sign it. On the petition, her message was crystal-clear. “The American people bailed out Bank of American during a financial crisis the banks helped create,” she wrote. “How can you justify squeezing another $60 a year from your debit card customers? This is despicable.”

Shortly after she put the petition up, people came and signed it. Then, more people came and signed it. And then, even more people came and signed it. By the time things were all said and done, Katchpole had collected more than 300,000 signatures, which was more than enough to get Bank of American’s attention. Last week, they announced that they were canceling plans to install the $5 fee. The message on Change.org’s main site: “We won.”

That’s all it takes, folks. If there’s one thing that we can all learn from Katchpole, it’s that you don’t need to be some bigwig on Wall Street or a politician in Washington, D.C. to get things accomplished. All you need is a message and the ability to communicate it clearly to others and you, too, can make a difference in the world. As the saying goes, 300,000 people can’t all be wrong, so Bank of American was forced to at least listen up when they heard about Katchpole’s petition. They didn’t confirm that her petition directly affected their decision, but it’s safe to say that it was on their radar when they pulled the new $5 fee off the table.

For her efforts, Katchpole actually won’t receive much of a benefit. After Bank of America announced the $5 fee, she took her business elsewhere and stashed her money away at another bank. But she will get the satisfaction of knowing that something that she did will help save millions of Americans money every month from here on out. Because of her—a 22-year-old nanny with very little money or law experience—Bank of America backed off and let the American people collect a satisfying win.

It’s a small step for the American people. But it’s one that lets all of us know we definitely have a say in how things go down in this country. So the next time you’re outraged about an issue or want to seek change, just think about Katchpole and the difference she just made. And find to way to thank her while you’re at it. She just proved that Americans do have the right to fight for what they believe in.

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