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The online frontier

2007 has been a year of online activism and banks have paid the price. Is there an emerging reputational risk threat posed by bloggers and discussion forums? Peter Madigan investigates

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HSBC UK's decision to drop plans to charge interest on its student and graduate overdraft accounts after an internet protest on the social networking site Facebook was hailed as a victory for consumers and the blogosphere when it was announced back in August.

Disgruntled account holders had logged onto the site and signed up to protest groups in their thousands to remonstrate against HSBC's plans to charge 9.9% interest on overdrafts with only two weeks' notice. Previously the bank's graduate

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