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TUESDAY, NOVEMBER 01, 2011
THE BLOG OF THE RAINFOREST ACTION NETWORK

Remember, Remember The 5th Of November

Bank of America Cut CardRemember, remember the 5th of November — because this Saturday is "Bank Transfer Day." BTD is a highly popular Facebook event (over 70,000 are attending) initiated by Kristen Christian, a young woman from California who decided she'd had enough of corporate greed. Her feelings resonated with tens of thousands of others, and the big banks will be taking a whopping hit this week as people rush to close their Big Bank accounts in favor of local community banks and credit unions. One anecdote from a friend of mine who works in a small California-based credit union: "In an average month we hope for 400 new accounts, this past month we've gained 1100 new customers." People's motivations for choosing to close their accounts do vary: bank fee hikes, predatory lending, failure to support small businesses, environmentally destructive lending. And much like the reasons that have brought so many people into the streets for #OccupyWallStreet, these are all symptoms of banks that are too big to care, that prioritize profits over people and the environment. And we've had enough of that mentality. Some of our friends and allies, like us, are coordinating Move Your Money pushes this week. Here's a selection: And if moving your money isn't quite enough for you, how about this idea for a creative, easy — and free — method of directly communicating with the big banks? [youtube 2JlxbKtBkGM 550]

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