Ann Minch is a California woman who said she was fed up with Bank of America for raising her credit card interest rate from about 13% to 30%, despite the fact that she said she always paid her bill on time and "in good faith." Minch was so upset, she uploaded a video to YouTube in early September of 2009 detailing what she called a "Debtor's Revolt." Minch said she would not pay Bank of America until the company agreed to negotiate a lower interest rate on her credit card.http://www.youtube.com/watch?v=jGC1mCS4OVo Her video attracted nationwide attention, with several large news organizations picking up the story. Minch was profiled on ABC's Good Morning America. In a story, GMA said some were calling Minch a "modern day folk hero.http://abcnews.go.com/GMA/woman-boycotts-bank-america-wins/story?id=8688175
Resolution?
Minch's efforts to attract Bank of America's attention apparently paid off. On September 19, 2009, Minch posted an update video on YouTube, saying that Bank of America officials had contacted her to lower her rate. http://www.youtube.com/watch?v=cNHd-GBZGQo
Debtor's Revolt Begins Now!
Ann Minch's original "Debtor's Revolt" YouTube Video, posted on September 8, 2009.
Debtor's Update: Bank of America Responds
Minch's follow up video, posted on YouTube on September 19, 2009. In this video, Minch offers an update on her situation, explaining that eventually Bank of America contacted her and agreed to lower her APR. She also announces that an official Debtor's Revolt website is in the works.