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Press Release: National Group Tells Big Banks It’s Time to Fix Your Mess

November 11, 2010

Groups from across the country unite for a week of actions to stop foreclosures

“Fix your Mess” is the message that community leaders from across the country are sending big banks such as, Bank of America, Wells Fargo, and Chase.

This holiday season, while big banks gear up to pay $144 billion in bonuses, countless of Americans are in jeopardy of losing their jobs, homes and families. With unemployment at all-time high of 9.6% and foreclosures constantly rising at a record high with no end in sight, community, faith, and worker leader, groups will unite from November 15 – 19 for a week of actions across the country to demand that big banks like Bank of America fix the foreclosure crisis they created and halt foreclosures until homeowners have a real chance to save their homes.
“Two years since after TARP it is clear that it will take the American people demanding action,” said George Goehl, Executive Director of National People’s Action. “We’ve been far too patient, too understanding and too flexible with the banks when time and again they have proven that they cannot be trusted,” he added.

While the sputtering economy fueled last week’s elections, the majority of Americans know that the Big Banks and Wall Street are the villains that are responsible for the current crisis. Despite widespread discontent with the Big Banks, they aren’t getting the message. They continue to fraudulently foreclosure on millions of families in order to keep paying out record bonuses to their top executives.

The actions are part of a renewed grassroots campaign by PICO, National People’s Action, SEIU, Northwest Federation of Community Organizations, Alliance for Justice, Alliance of Californians for Community Empowerment, IAF Southeast, Community Reinvestment Association of North Carolina calling for a new approach to stopping foreclosures. Over the next few months, they will be putting direct pressure on financial institutions meeting with state AGs, and continuing to move resolutions at the city level to move billions of dollars out of the nation’s biggest banks that are responsible for the failure of the HAMP program.

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