Wednesday, September 23, 2009

Red Bluff woman prevails in bank protest

Ann Minch's YouTube revolt against Bank of America was victorious. Minch was contacted Friday by a Bank of America executive, who made her a deal.

The bank executive verbally agreed to cut her rate from 30 percent to 12.99 percent, where it was in January before it was increased, Minch said.

Upset that the bank had raised her interest rate, the 46-year-old Red Bluff resident vented her outrage Sept. 8 on YouTube, vowing to stop making payments on the card. The video has received more than 230,000 Web hits.

Minch broke news of the deal Saturday on YouTube in a video titled "Debtors Update: Bank of America Responds!!!" The six-minute clip had generated about 1,000 views by Monday afternoon.

Minch said she was contacted by Bank of America's Jeff Crawford, who asked why she produced the first video. "He was very polite," Minch said on YouTube. "He didn't make any demands about pulling down the YouTube video."

Initially, Crawford offered to drop the rate to 16.99 percent. But he reconsidered after Minch told him Bank of America has been allowed to borrow money virtually interest-free from the federal government.

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