HR0584LRB097 14255 CEL 58994 r


  
1
HOUSE RESOLUTION

  
 
2    WHEREAS, Millions of Americans are struggling just to get 
3by during these tough economic times, and the many who have 
4been fortunate to avoid job loss and foreclosure are working to 
5pay off and avoid accruing further consumer debt; and
  
 
6    WHEREAS, One of the most effective ways to avoid debt is 
7for consumers to stop using credit cards, and the most 
8convenient way to make purchases without using credit is to use 
9a bank debit card; and
  
 
10    WHEREAS, Bank of America recently announced that it would 
11soon begin charging customers $5 per month to use their debit 
12card, and other major banks have already followed suit; and
  
 
13    WHEREAS, During these trying times when individuals, as 
14well as small and large businesses, are trying to change their 
15financial behaviors to eliminate debt and emerge from this 
16ongoing recession in a stronger position, charging fees for 
17smart financial decisions will only penalize those behaviors 
18and may cause vulnerable consumers to continue spending on 
19credit; and

  
 
20    WHEREAS, Banks that received public financing and bailouts 
21to remain solvent should lead the way to a new financial 
 
 
HR0584- 2 -LRB097 14255 CEL 58994 r

1paradigm, one that encourages smart financial behaviors that 
2could prevent future economic uncertainty; therefore, be it
  
 
3    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 
4NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that 
5we encourage Bank of America and other national banks that 
6have, or are considering implementing a punitive fee for debit 
7card usage, to reconsider that fee and instead try to build 
8businesses that reward customers who make sound financial 
9decisions; and be it further

  
 
10    RESOLVED, That a suitable copy of this resolution be 
11delivered to the Bank of America Corporation.