Congregations, Labor, Students, Environmentalists, and Community leaders Call on the 99% to Move Our Money During Bank Shareholder Meetings

Washington, DC–(ENEWSPF)–March 39, 2012. So many of us in the 99% are struggling to support our families and to climb out from under the weight of massive debt.  We worry about the health and economic security of our communities, our country, and our planet.

At the same time, the nation’s biggest banks continue the very same practices that crashed our economy, continue to put a price tag on our democracy and continue to poison our planet.

We have had enough.

This Spring, we’re inviting individuals, organizations, congregations, universities, student groups and neighborhood and community groups to join together for national Move Our Money days of action to coincide with protests at the Wells Fargo shareholder meeting on April 24th and the Bank of America shareholder meeting on May 9th.

Imagine, as shareholders vote on millions of dollars in bonuses for the top executives that crashed our economy, they will be losing thousands of customers as we Move Our Money and tell them NO MORE.

In November 2011 alone, the Move Our Money campaign tracked over $55 million moved off of Wall Street and back into communities across the country. Ten percent of all bank customers moved their money in 2011.  And that’s only the beginning.

Until the big banks commit to the following, we will continue to Move Our Money:

  • Provide principal reduction to reset the economy: Reduce principal for underwater homeowners to fair market value, especially in communities of color that received your worst and riskiest loans. This will help reset the housing market, pump billions of dollars back into the economy, and create a million jobs.
  • Pay your fair share: Pay the statutorily required 35% corporate income tax and stop using offshore tax shelters and other corporate tax loopholes.
  • Create jobs and treat workers fairly: Use 50% of corporate cash reserves to create good jobs.  Help grow the American economy by investing in small businesses and supporting the rights of workers to organize.
  • Pledge to keep your money out of elections: Disclose all corporate spending in elections to date and refrain from making any direct or indirect donations to any candidates or political causes in 2012 and beyond.
  • Fund the future — not dirty coal, payday lending and private prisons: Stop financing for the coal industry and shift the balance of energy financing to support renewable power generation that is less threatening to our environment and health. Stop funding the predatory payday industry and start financing affordable small dollar loans directly. Stop funding the private prison industry and start financing job creation that builds opportunity and wealth in communities of color.

Every dollar we move is one that big banks can no longer use to profit on the backs of the 99%. Every dollar we move to local banks and credit unions is one more invested in our communities’ future.  

Join thousands of Americans in congregations, student organizations, labor unions, environmental advocates and other community leaders as we join together and Move Our Money.

Ilana Berger/Tracy Van Slyke, The New Bottom Line

John Sellers, The Other 98%

Rebecca Tarbotton, Rainforest Action Network

Justin Ruben, MoveOn.org

Alisa Gravitz, Green America

Dan Apfel, Responsible Endowments Coalition

Natalie Foster, Rebuild the Dream

Source: http://www.moveourmoneyusa.org