Viral: Ann Minch is back . . . and she won!

Posted by Brandon | Filed under people, video

Last week we wrote to you about Ann Minch, who decided to launch a one-woman revolt against Bank of America, who she believed had unfairly raised the interest rate on her credit cards to 30% (see that post here).  BOA was a recipient of funds from the government’s bank bailout and Minch claims that she was never late making her payments.  The post generated quite a few comments and strong opinions (including one by our friend Matt Dibble who was, shall we way, less than impressed by Minch’s on-camera presence and accuracy).

Minch seems to have gotten the desired response, though.  Check out her latest video below.  BOA has apparently agreed to reduce the rate on her credit card after one of their executives got in touch with her last Friday.

A few more deets, after the jump . . . Minch spoke about her conversation with the bank exec on camera, who she said was very polite and didn’t raise the issue of her youtube video.

[The executive] tried to get me to agree to 16.99 percent and I said, ‘No, nope, I believe because you guys are getting your money from the Fed at zero percent interest . . . that 12.99 percent is more than [a] generous profit margin for you guys.’ –Ann Minch on her talks with BOA

Her first video has now been viewed nearly 250,000 times (despite the less than ideal production values — maybe that’s why it is so effective, because this is obviously a *real* person fighting back).

Ann says that the movement will move on at www.DebtorsRevoltNow.com (they’re still working on the site, but eventually they’ll have links, resources, and a “four-point action plan”).  Ann’s also working on an idea to revolt against taxes. (Careful, Ann, the courts have ruled decisively numerous times against tax protestors.  That 30% interest rate will not seem so bad if you’re behind bars on federal tax charges!)

More from HuffPost here.

Related posts:

  1. Viral: Bank of America, Ann Minch is not gonna take it any more!

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Permalink | September 22nd, 2009

13 Responses to “Viral: Ann Minch is back . . . and she won!”

  1. Ferndale Franny Says:
    September 22nd, 2009 at 7:40 pm

    You go girl! Way to get The Man!

  2. BRANDON Says:
    September 22nd, 2009 at 8:16 pm

    AMERICABlog is covering the story as well: http://www.americablog.com/2009/09/youtube-video-woman-gets-bank-of.html

  3. Larry B Says:
    September 23rd, 2009 at 11:10 am

    Love it! Way to fight back and win!! It’s amazing that as customer service has gotten harder and harder to deal with, it’s easier to make a fuss with social media to get your needs met. Her story shows why it pays to join community banks and credit unions!

  4. Matthew Dibble Says:
    September 29th, 2009 at 5:14 pm

    So much for Debtor’s “Revolt.”

    It’s turned out to be more of a Debtor’s “complain until I get my interest back down and then I’ll pay off the loan.”

    I’m not impressed by her at all. Bank of America has paid her off and now she’ll go away forever.

  5. Brandon Says:
    September 29th, 2009 at 8:39 pm

    I’m impressed; she won. She used social media as a cudgel against a bank that has taken our money while taking advantage of their customers.

  6. Paula at CreditLaw.com Says:
    September 29th, 2009 at 9:02 pm

    She was totally lucky. She tapped into a nerve as consumers are ground down by the economy and the big banks are given bailouts to stay afloat. He video went viral and BofA was willing to speak with her to resolve the situation.

    I applaud the fact that she did something about it. Maybe next time she won’t put herself in that situation to begin with.

  7. Matthew Dibble Says:
    September 30th, 2009 at 11:55 am

    I guess I don’t understand who’s taking advantage…

    The institution upping her interest rate for something which she signed on?

    Or the person living outside of her means using someone else’s money and paying them back in minute increments?

    Her actions speak more to laziness and indifference than change, growth or sacrifice. While she was busy creating a “revolt,” BoA simply made that money elsewhere by increasing someone else’s interest rate. When she got what she wanted, which was more selfish than anything, she folded like a garment bag.

  8. Brandon Says:
    September 30th, 2009 at 1:39 pm

    Hey Matt,

    Thanks, as always, for your thoughts.

    The issue is that credit card companies and major banks, many of which are only still in existence because of massive government bailouts, are indiscriminately raising the rates of customers with very little power even when those customers are fulfilling their end of the bargain — making payments on time. They are also raising rates when they are getting historically low rates as the result of subsidization by the Fed. So, the anger comes as a result from customers being abused by banks while those customers/taxpayers are subsidizing their operations.

    Is she bad with her finances? Sure. Does that give the bank the license to indiscriminately raise her rates? I don’t think so, though they can through one-sided contracts that allow them to raise rates for any reason.

    I’m impressed by this story and this woman, because despite her lack of power, education, and financial prowess, she was able to stand up for herself and say enough– and was successful at doing it.

    Also, if you look at the follow-up video, she didn’t “fold.” She’s going on to work on a website to pursue her “revolt.” (Though I think some of her ideas, e.g. constitutionality and taxes, seem to be way off base).

    –B

  9. Matthew Dibble Says:
    September 30th, 2009 at 7:48 pm

    Hey Brandon,
    I get it… I’m familiar with what your issues are with the story… I’m not saying I disagree with them, they’re all valid points.

    I believe that the issue is personal accountability, or her lack of, before and after the actions in question.

    My opinion, your opinion… neither right, neither wrong.

  10. Al Says:
    October 23rd, 2009 at 9:31 pm

    I think Ann is smokin HOT at 48. I would love to date her

  11. Brandon Says:
    October 24th, 2009 at 11:51 am

    Now Al, that is a new perspective on what is now an old story! Thanks for sharing it ;)

  12. Ashley Says:
    October 26th, 2009 at 12:51 am

    i think she brings up an excellent point. if banks, AIG, Goldman Sachs get a 0% loan and room for hundreds of millions in bonuses, why not stand up and fight your interest rate? Who cares if she owes money? Bank of America received $20 BILLON from the government, and we’re going to lecture this woman on personal responsibility?
    Fact check: http://news.bbc.co.uk/2/hi/7832484.stm

  13. Brandon Says:
    October 26th, 2009 at 9:09 am

    Ashley, I agree. Whenever you hear a story about this kind of issue, people come out and attack the delinquent customer, lecturing them about their poor financial skills and profligate spending. Okay, I’m sure some overspend. But many of us are just one job or one health emergency from being in the same boat. Yeah, and where are the lectures for BOA, Citi, and the other banking geniuses who took the economy to the brink of disaster?

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