The "Occupy Wall Street" demonstrations have been about big banks and the 1% making big bucks on the backs of the other 99%. Bank of America reported a profit of 6.2 billion in the third quarter of this year alone.

But that apparently wasn't enough as B. of A. wants to start charging their customers a $5 monthly fee to access their own money via their debit cards. B.of A spokesmen have said it is to offset the caps placed on fees by recent legislation that banks can charge merchants known as "swipe fees."  Swipe fees in the past averaged .44 each transaction, but the new legislation caps the swipe fees at .22 each.  You can avoid this fee if you have your mortgage with the bank or have $20,000 or more in your account.

B. of A. is also laying off 30,000 employees this year. Its all about the bottom line. Profits Profits Profits!!!

Karen and I have banked with Wells Fargo for years.  I understand Wells Fargo is watching B.of A. to see how the $5 fee is received and may also add the fee. Wells Fargo only made $4 billion last quarter. 

If Wells Fargo adds this fee, we will leave Wells Fargo and take our banking business to Karen's credit union.  I am also going to start paying with cash when ever I can.  I suggest you do the same.