Today, Virginia Organizing leaders attempted to the deliver the following letter to the Charlottesville branch manager. The mananger kindly refused so the group went to the nearest post office and mailed the following:
February 3, 2012
Chief Executive Officer
Bank of America
100 North Tryon Street
Charlotte, NC 28255
Dear Mr. Moynihan:
The American people have had enough of Bank of America’s irresponsible lending, fraudulent foreclosure practices, tax dodging, and political lobbying that makes a mockery of our democracy. Your short-term thinking has left the American economy in shambles and our housing market underwater. We are appalled that Bank of America continues to finance the predatory payday lending industry, dead-end fossil fuel industry, and abusive private prison industry instead of sustainable job creation. Your pursuit of short-term gain for your executives at the expense of the long-term health of your shareholders and the American economy is unconscionable and morally bankrupt.
We’re writing to let you know that we’re coming to your shareholder meeting to demand serious changes to your lending and business practices. We are the 99%--workers and retirees, families fighting foreclosure and the unemployed, students, immigrants, and farmers. We are the 99% of Americans who are investing in the long-term health and security of our families, communities and the environment. We believe in an America that works for all of its people, not just the 1% at the top. We believe in a government, of, by and for the people that is not compromised by corporate lobbying or political spending in elections. We believe in a market that values the triple bottom line of people, environment and profits.
There are concrete steps that you must take to get America back to on its feet.
• Provide principal reduction to reset the economy: Provide principal reduction for underwater homeowners, 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 jobs.
• Pay your fair share: Pay the statutorily required 35% corporate income tax instead of gaming the system through off shore tax shelters and other corporate tax loopholes. We pay our taxes and it’s time you paid yours.
• Create jobs and treat workers fairly: Use 50% of corporate cash reserves to create good jobs. Help grow the American economy by supporting the rights of workers to organize in safe, decent working environments.
• Pledge to keep your money out of elections: Disclose corporate money in elections to date and pledge to keep all corporate money out of the 2012 and future elections. This includes an end to lobbying on public policy issues.
• 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.
This week is just the start. Until you, meaning the CEO, agrees to to sit down and talk face to face to work out real solutions to these issues, we will return again and again to your offices, conferences, shareholder meetings, and beyond to demand change.
To schedule a meeting to discuss these urgent issues, please contact George Goehl at 312-243-3035.
Sandra A. Cook