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Blame Government for ATM Fees, Bachmann Says Blame Government for ATM Fees, Bachmann Says

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The Trail: 2012 Presidential News from the Field / Campaign 2012

Blame Government for ATM Fees, Bachmann Says

Tea party caucus founder says there's no likeness between conservative insurgency and Occupy Wall Street movement.

Rep. Michele Bachmann, R-Minn.(Chet Susslin)

photo of Rodney Hawkins
October 10, 2011

Bachmann on Occupy Wall Street

HENNIKER, N.H. -- If your bank starts charging you to use your ATM card, blame the federal government, Republican presidential candidate Michele Bachmann told students here on Sunday.

"Did ya'll hear last week that your debit card -- you now have to pay a $5 monthly debit card fee?” the Minnesota congresswoman said to students at a town hall meeting on the campus of New England College. “Well, thank you, federal government; that's thanks to Dodd-Frank.”

 

Bank of America announced last month that starting next year they will begin charging debit card holders $5 monthly fees. The bank contends it needs to recoup money it will lose because the Dodd-Frank financial regulations capped the amount of money it can charge merchants for debit card transactions. 

Bachmann said if she were elected president, she would repeal Dodd-Frank, enacted to curb some of the financial excesses that, according to the bill's supporters, led to the near-meltdown of the nation's credit system in late 2008.

The town hall meeting was attended by about 100 students, dotted with Bachmann supporters, and lasted about 45 minutes. 

When one audience member likened the Occupy Wall Street protesters to the tea party movement, Bachmann quickly begged to differ.

“I don’t think they are similar to the tea party at all,” said the congresswoman, who founded the Tea Party Caucus in the House. “If Occupy Wall Street wants to be upset about something, they should go in front of the White House; that is where they should be protesting.”

Bachmann will be among the eight GOP presidential contenders participating in the Bloomberg/Washington Post Debate at Dartmouth College on Tuesday at 8 p.m. ET. She has one more New Hampshire event planned for Wednesday before heading back to Iowa, where she was born and where she is focusing most of her campaign efforts.

Bachmann on Debit Card Fees
Bachmann on Debit Card Fees

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