Feeling like you have no influence over your bank? Check out the story of students who, by organizing on facebook, managed to get HSBC to change their plans to charge interest on overdrafts. The smallest, most innocuous sounding changes in bank policy can result in extremely negative consequences for unsuspecting customers. Let’s hope that all financial institutions start feeling pressure from social networks to provide better services.
Please feel free to post links to any facebook/orkut/myspace/etc groups that are promoting the interests of bank customers. We’d also love to hear about any financial institutions that have particularly impressed you with customer-friendly policies.