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California Faith-based Group Says Amen To Move Your Money From Bank Of America
Thursday, January 14th, 2010 @ 6:12 pm | We Think
People Improving Communities through Organizing, (PICO) a coalition with over 1,000 member congregations across the country, has threatened to launch the faith-based version of Move Your Money.
With Bank Skank Of America as its target for its refusal to acquiesce to consumer demands for a moratorium on foreclosures PICO has begun to rally support in Antioch, California to “to lead an exodus of our money from Bank of America”.
We are happy and glad to know of a campaign that shows promise in bringing the arrogant bankers to their knees. Divestment of funds from larger banks to community banks makes sense.
No longer is the banking public willing to accept the bankers’ excuse they are not culpable for the financial debacle our nation faces.
When it came to giving approval of loans for over valued properties the banking experts always have the final say; many banking consumers say since the bankers promote themselves as expert in finance the expectation is that bankers would have known better than to give a mortgage without verifiable income or knowing the real condition and value of the property being sold.
The bankers have proven they are no better at handling financial decisions than those of us who do not have a Harvard or Wharton School education.
It is because of the failure of bankers to react responsibly and compassionately that consumers are picking up the rallying cry and taking action to move our money from the larger corporate institutions to smaller community banks and credit unions that have a genuine interest in the communities they serve.
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