Around the country, people are standing up to the big banks by moving their money out of institutions that are fighting against financial reform. A recent action in Missouri was documented in the Huffington Post:
A St. Louis union dumped Bank of America on Friday morning, closing a $100,000 account to spank the bank for its bailouts, bonuses and foreclosures.
“This is a really unethical institution that we shouldn’t be supporting or doing business with,” said Bradley Harmon, president of the CWA Local 6355, which represents some 7,000 public sector workers in Missouri. “We shouldn’t be supporting Bank of America with our dues money.”
Harmon said the money will be deposited with Enterprise Bank in St. Louis.
He said he was particularly appalled by the bank’s performance modifying mortgages under the Obama administration’s Making Home Affordable program.
“Instead of using the taxpayer bailout money to stabilize itself and help working families keep their homes, Bank of America has spent it rewarding its incompetent bosses and lobbying against legislation to help working families and reform our financial system,” Harmon said.