May 09 2012
Activists Protest BofA Ahead of Shareholders Meeting Over Fraudulent Home Foreclosures
Hundreds of protesters rallied outside of the Bank of America shareholders meeting today in Charlotte, North Carolina to protest the financial institution that is central to the housing and foreclosure crisis. BofA shareholders are reportedly going to introduce a resolution to end political spending by the bank, following a similar action by shareholders of US manufacturer 3M. Public Citizen reports this would cover contributions to the American Legislative Exchange Council, to Super PACs during this election cycle, and to the pro-corporate, anti-tax US Chamber of Commerce. A similar resolution was not approved by 3M shareholders at their annual meeting yesterday in St. Paul, Minnesota.
Protests were held yesterday at BofA branches in many cities in advance of today’s shareholder meeting including in New York city and Detroit. In Los Angeles, Occupy Fights Foreclosure activists staged a “fraudulent foreclosure” at the home of a BofA Executive in Pasadena to draw attention to the plight of one LA family fighting foreclosure by BofA. Dirma Rodriquez is a mother of 5 children, including one severely disabled daughter. She and her supporters say BofA fraudulently foreclosed on her after approving her mortgage modification. Activists estimate the bank may have financially benefited from the foreclosure by as much as $1.5 million by earning a tax write off after foreclosure, receiving a mortgage insurance payment on the unpaid loan, and by selling the home to West Ridge Rentals for over $300,000.
BofA announced yesterday it would offer principle reduction to 200,000 homeowners as part of the $25 billion settlement five banks reached with 49 state attorney’s general earlier this year.
GUEST: Suzanne O’Keefe, writer, filmmaker, web developer and Occupy Fights Foreclosure activist
Find out more at www.occupyfightsforeclosure.org or call 310-912-3494.
There is a Southern California BofA protest:
What: Protest at Bank of America branch in Westwood – echoing massive protests at Bank of America’s shareholder meeting in Charlotte, NC.
Who: About 75 people from MoveOn.org, Good Jobs LA, immigrants’ rights groups and labor organizations.
Date/time: Wednesday, May 9th at 5:00 pm
Place: Bank of America, 10960 Wilshire, Westwood, CA 90024
One Response to “Activists Protest BofA Ahead of Shareholders Meeting Over Fraudulent Home Foreclosures”
We must abandon the “love it or leave it” attitude, where the general public has rolled over for Corporate America and accepted it’s our job to pay their way. Year after year these companies report record profits so why aren’t they paying record taxes? These companies have the power to not only save our economy but to close the income gap by paying employees more but instead they gut the Middle Class for all their worth. Every single protester is a hero in my book and I even helped create some free posters for the cause which you can download from my artist’s blog at http://dregstudiosart.blogspot.com/2011/11/propaganda-for-occupy-movement.html