We work on customer experience issues extensively with banks, and you're absolutely right that it's difficult for banks to see the wisdom of changing fee policies to be a value for customers, not a punitive, quick-revenue scheme. While senior management pays lip service to building trust through a sincere, transparent relationship with customers, it's hard for them to pull that easy money off the table.

I hate Bank of America so much for doing this to my family. I will never use my ATM card again for a purchase, from now on I will withdraw cash (at the counter) and use that. I can't believe they think it is okay to do this to us, when we are bailing them out. They used my tax money to screw customers. Disgraceful.

Love your work. Predictably Irrational was a breath of fresh air after having to read Simon's stuff. I think I exited a self-induced coma-:)

Re the post, are you familar with work showing that people become anti-social, even violent, in response to a percieved injustice? The banks penalizin $1 overdrafts with $35 fines is a shocker after the bailouts (I just had it happen to me).

I hope I am way off, but I could see some lunatic (or lunatics) acting out against the banks.

It was quite easy for me to switch to using an overdraw limit on my chequing accounts, which charges me $5 for every month that I use it, and interest which does not usually apply since I, without fail, pay off my overdrawn account. Also, by default, my bank does stop debit transactions which will take me below zero; I only got the overdraft for pre-auths.

Is that the difference between American and Canadian banking? I trust my bank.