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Infiltrating the ABA

October 25, 2010

American Bankers Association protestOutraged by the recent actions of big banks fraudulently foreclosing on homes and crashing our economy which left 8 million Americans without jobs, members of Alliance to Develop Power (ADP), SEIU, Jobs with Justice (JWJ), and National People’s Action (NPA) took over the American Bankers Association annual meeting at the Hynes Convention Center in Boston, yesterday morning.

Dressed as bankers, a small group of women from ADP – TC Eckstine, Jamie Sadiq, and Caroline Murray – took turns interrupting the ABA plenary session called “Turbulent Times” where over 1,000 bankers were in attendance.

They demanded the ABA:

  1. Fix the foreclosure crisis and move millions of families into fair mortgage modifications with principal write-downs.
  2. Invest responsibly and sustainably in community-led economic development projects to create jobs.
  3. Stop bankrupting taxpayers and communities.
  4. End discriminatory lending practices.
  5. Provide workplace protections to employees.

“While the ABA is sitting in luxury watching a power point on values, we put our values into action.  They have been put on notice,” said Caroline Murray, executive director of Alliance to Develop Power, a community organization in Massachusetts.

The women were detained by Boston Police and told they would be issued summons for trespassing while a group of 40 people, equipped with bullhorns and noise-makers made their made into the Hynes Convention Center chanting “You’re the worst.  Time to put the people first! ”

Once the group left the building they joined a crowd of 70 or more from ADP, JWJ and SEIU.  There the group heard powerful testimonies from Diane McCloud who was foreclosed on despite never missing a payment and Keya Alvarez, from the Alliance to Develop Power (ADP), who told the crowd “They told us we are breaking the law by trespassing but the banks have been breaking the law by foreclosing without proper documentation.”

This week’s actions in Boston are the part of a national campaign to hold banks accountable for the corrupt and fraudulent procedures they used to foreclose homes.  Homeowners can demand that their bank produce a mortgage note as proof that it owns the loan and has the right to collect payment by visiting:

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