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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

 

 

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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.