Debit Card Fees, Bank Transfer Day cost Big Banks 600,000 Customers

More than 600,000 US consumers have moved their money from big banks to community banks or credit unions, thanks to the much-publicized revolt against debit card fees and the resulting consumer-led Bank Transfer Day last fall, according to an analysis released by Javelin Strategy & Research. Bank of America alone had a 20 percent increase in account closings in the fourth quarter of 2011 compared to the same quarter in 2010. Read more: