As part of an overall “Move Our Money” campaign encouraging Americans to move their funds out of big Wall Street banks, a coalition of community groups and others has undertaken a campaign to move $1 billion from banks such as Bank of America, JPMorgan Chase, and Wells Fargo to community banks and credit unions that make small business loans, help create jobs, and invest in the community. As part of the launch of The New Bottom Line‘s Move Our Money...
A group organizing protests distinct from, but similar in spirit to, Occupy Wall Street is denouncing permission granted by the Obama administration to allow Bank of America’s holding company to transfer risky derivative assets from Merrill Lynch to its federally insured bank. The New Bottom Line — a coalition of small business, community and faith organizations — wrote President Obama, Federal Reserve Chairman Ben Bernanke, Treasury Secretary Timothy Geithner and Federal Deposit Insurance Corp. Acting Chairman Martin Gruenberg —...
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