Lamorindans Turn Out In Favor of "Bank Transfer Day"

More than 50 people gathered in downtown Walnut Creek this morning
to protest and encourage people to remove their money from various corporate
banks.

"I am fed up with the growing inequality in our country and how big money is running our government," protest organizer Sheilah Fish, of Moraga, said. "I don't think we have a true democracy like we had 40 years ago."

Friday's protest is part of a national day of action, "Bank Transfer Day," which encourages consumers to seek banking options cheaper than those offered by large banks such as Chase, Bank of America, and Wells Fargo.

Protesters gathered at 10 a.m. in front of the Chase bank at Newell Avenue and South Main Street, and some held signs that read "R.I.P. Middle Class" and "This is a crime scene."

Many wore black armbands signifying the death of the middle class.

"It means people are fed up," Carol Christopher, of Pleasant Hill, said. "There's a lot of power in people gathering together, like (inopposition of) the debit card fees, and I wanted to be a part of that."

The viral movement developed in response to announcements by Chase, Bank of America, and Wells Fargo that each bank had either instituted pilot programs charging debit card users a fee or had announced plans to charge such a fee.

In recent weeks, all three major banks withdrew those plans after public backlash over the proposed fees, but not before some damage had been done.

Christopher said she pulled her money out of her Chase bank account prior to Saturday's protests.

The group in Walnut Creek handed out fliers with information on how, why and where people can move their money. "Bank Transfer Day" encouraged participants to move their money from corporate banks to credit unions and found favor with Ryan Crosely of Lafayette.

"It makes sense," Crosely said. "I've actually been thinking about doing it for some time now. The banks have been getting away with too much for too long."

Bay City News Service contributed to this report