$50 million dollars.
In just the first week of the Move Our Money campaign, that’s how much money has been moved out of big banks by hundreds of people like you and community and faith organizations from coast to coast.
That's $50 million dollars that cannot be used for excessive bonuses for bank executives. That's $50 million that we took back from the big banks that crashed our economy and created the housing crisis. That's $50 million we invested back into our communities, because the big banks wouldn't.
Here are some reports from people who have taken action with Move Our Money:
"I used your "email the CEO tool" last night. This morning they looked up my phone number and called me. They read my email, they even looked up my URL links, and they wanted more details of my leaving after 32 years. She said she was a Senior VP, tasked with gathering the opinions of customers and passing them on directly to Bank of America's top management. Based on my 19 minute conversation with her, and the branch manager when I closed my account, the employees got the message and are very upset for the company and their future. They really want their bosses to know what we are saying. They want management to acknowledge our complaints and reform the company. They too are the 99% and they do not want to lose their job and retirement money (all in Bank of America stock according to one employee). The pressure is working. Something will change."
"We closed our account on Tuesday. They asked why we were closing. I was tempted to tell them it was none of their business, but I said "We are the 99%." They understood what that meant. I asked if many people were closing accounts, but got sort of a non-answer. At the CU where we moved the funds to the lady asked if we had just closed another account. We said yes, and asked her if many people were bringing in funds from closing accounts in other institutions. She said yes, lots of them."
"I let the staff know it wasn't about them and hoped they found happy jobs with positive banks doing good work. This particular Chase branch used to be the community neighborhood bank.
They were all kind - no hassles, understood and kindly nodded saying - we understand to their question of, "Why are you closing your account?"
I mentioned moving my funds to a local credit union was a choice made not against them individually but against the investment practices of Chase bank.
All in all it was pleasant and actually felt supported by the tellers."
This is all just a start. There’s still plenty that we can do to keep momentum going on the road to $1 billion. We can:
And if you haven't already, join the fight
and move our money until big banks like JP Morgan Chase, Bank of America, Wells Fargo, stop:
a) Draining government of revenue and start paying their fair share of taxes
b) Preying on homeowners and provide principal reduction for all underwater homeowners to current-market value
c) Hoarding trillions of dollars and invest in small businesses to create American jobs
d) Implementing discriminatory loan practices and start new, fair lending programs targeting communities of color
Even the big banks know that we’re not going anywhere, with an article in Monday’s American Banker quoting a California banker who says, you can’t “put the genie back in the bottle.”We’re off to an incredible start; let’s keep this momentum going.