Bank Transfer Day Deemed a Successful Consumer “Mutiny” by ABC News

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November 9, 2011; Source: Out of the Storm NewsWhile definitive numbers will not be available until the end of the 4th quarter, it is now being estimated that $80 million dollars was shifted out of big banks and to nonprofit credit unions on Bank Transfer Day last Saturday (November 5th). This represents the accounts of 40,000 customers. November 5th was the culmination of a month during which another 650,000 customers transferred $4.5 billion. ABC News called the action a “mutiny” and a “lightning bolt.” We hope that it represents more a trend that will build.—Ruth McCambridge