May 8, 2012
Some Charlottesville residents are not happy with the way big banks do business, so they're heading down to Charlotte, NC to relay the message in person at Bank of America's shareholder meeting.
The grassroots group Virginia Organizing is challenging Bank of America's practices on three fronts: foreclosures, predatory lending and tax reform. This comes after members delivered a letter to a local branch of the big bank in February expressing disappointment in some of its policies and procedures.
Many protesters say they used to be Bank of America customers but have switched over to local credit unions in the last few years.
"They prey on people whom they like to turn around and call their customers," claimed protester Becky Thomas. "Their annual report says something about that they will work very hard to generate profits and keep the stock price up. They have done that over the last five years, and very much at the expense of their customers."
The letter is part of an ongoing Move Our Money/Confront Corporate Power campaign encouraging people to move their money from big banks to small community banks and credit unions.
A spokesperson from Bank of America was not immediately available for comment.