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Standing Up to Bank of America

Molly Katchpole ’11 lauded as catalyst for change, credited for debit fee program reversal
Photo by: AP Photo/Cliff Owen

Upset by recent news that Bank of America planned to charge a monthly $5 fee for debit card purchases? Molly Katchpole ’11 was furious.

“I was mad as hell,” Katchpole told the CBS Early Show.

Not one to rest on her laurels, Katchpole – who works as a freelance account manager political consulting firm Winning Over Washington – started a petition on “Tell Bank of America No $5 Debit Card Fees.” Within days the online petition gained more than 150,000 signatures; to date, the petition has more than 350,000 signatures attached.

Katchpole has since become a media sensation, marching her petition to a Washington, D.C., Bank of America branch to close her account and cut up her debit card on camera. While she eschews her newfound celebrity, Katchpole is being credited with the fee reversal. And while she isn’t sure exactly what her future holds, Katchpole has a sense of hope, telling Time magazine, “It really does give me a sense of empowerment.”