Americans Cash Out of Major Banks

In reaction to higher bank fees, thousands move cash to credit unions.
1:46 | 11/06/11

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for Americans Cash Out of Major Banks
The -- backlash this weekend across this country as hundreds of thousands of Americans cashed out. Taking their money from the big banks and hoping that it hopes of -- a message about those big fees. Have -- been -- here's ABC's David -- -- -- -- -- Discussed in Dallas -- -- CN. Thousands of personal protest this -- -- is customers were urged to take their money out of Big -- and -- -- -- ridiculous needs. That anger has already added up to four and a half billion dollars withdrawn. Most of -- going to local nonprofit credit unions. At redwood credit unions in northern California. 300 new accounts yesterday six times the norm -- union saw a total of 650000. New accounts by last Thursday. And they told us today they think that number will reach a million. It all started with that five dollar fee Bank of America plan to charge for debit card use this California woman was so mad. She started the online movement to transfer money out of big banks. It's even fair to me about a large corporation way. Target a group of people they viewed as weak or complacent. Customers started shredding their debit cards and the bank canceled the feet I think it's gaining momentum and I think from Bank of America it was too little too late but even a million accounts lost is just one half of 1% of all the bank accounts in the country. And the big banks say put Blake they will find a way to keep profits up. Every bank needs to do it needs to -- to keep the customer happy and remain solvent. We either have to raise revenue. Her court costs expected big things to do -- He -- -- ABC news Washington.

This transcript has been automatically generated and may not be 100% accurate.

{"id":14893782,"title":"Americans Cash Out of Major Banks","duration":"1:46","description":"In reaction to higher bank fees, thousands move cash to credit unions.","section":"WNT","mediaType":"Default"}