F**k you very much JP Morgan Chase

[marmar]

http://www.uaw.org/articles/faith-and-labor-leaders-withdraw-millions-chase-bank



Faith and labor leaders to withdraw millions from Chase Bank
09/23/10


DETROIT -- At a news conference here Friday, Sept. 24, faith and labor leaders will announce their intention to withdraw hundreds of millions of dollars from JPMorgan Chase Bank.

Their protest is driven by the bank's refusal to declare a two-year moratorium on foreclosures in Michigan and its continuing ties with RJ Reynolds Corp. The tobacco giant, financed by JP Morgan Chase, has refused to engage in negotiations with the Farm Labor Organizing Committee (FLOC) over low wages and unsafe working conditions at farms of contract growers in North Carolina.

UAW President Bob King, who has just returned from a fact-finding tour of the North Carolina tobacco fields, is prepared to remove all of its funds from the bank.

"Chase needs to help unemployed homeowners in Michigan and underpaid farm workers in the Carolinas," King said. "The bank could make a huge difference by suspending foreclosures and pressuring RJ Reynolds to do the right thing."

Campaign leaders are calling on citizens to support their efforts by pledging to close their accounts at the bank and cancel their Chase credit cards.

About 1,000 demonstrators marched on Chase Bank in June seeking a hearing with the bank's officers on both of these issues. Chase officials met with King, Pastor D. Alexander Bullock of the Rainbow PUSH coalition, FLOC President Baldemar Velasquez and the Rev. Ed Rowe of Central United Methodist Church.

At a follow-up meeting in August, campaign leaders called on Chase to join President Obama's Hardest Hit Homeowners program and declare a temporary 90-day moratorium.

Participants in these discussions believed the bank had made a good-faith commitment to continue the dialogue, but Chase has since failed to communicate its intentions regarding any of the issues raised.

"This is a matter of life and death," said Pastor Bullock. "The words of Chase officials that they are willing to help the thousands who are living in undervalued homes and facing possible eviction is unconvincing in light of their refusal to seriously consider a moratorium on foreclosures."

Community leaders are calling on Michigan Democratic Congressman John Conyers to initiate hearings on the failure of Chase and other banks to effectively implement federal programs calling for mortgage modifications to keep people in their homes.

[Greyhound]

1. K&R just for the subject line. n/t

[TygrBright]

2. These low-life grifting corporate scum did their utmost to screw us over...

...when we were relocating and selling/buying our house. Chase Mortgage are total bottom feeders.

informatively,
Bright

[Hannah Bell]

3. kr

[davidwparker]

4. K&R

You vote with EVERY dollar you spend.

Move your money.

[Scuba]

5. I'm closing my Chase account tomorrow.

[MadMaddie]

6. Closed mine last year and am with a Credit Union

couldn't be happier!

[DesertFlower]

8. we have a chase visa card.

we're giving it up.

[diane in sf]

7. The UAW should start a credit union--screw the big banks/criminals.

The UAW and other unions probably have enough combined assets put put a serious dent in the big banks business.

[bertman]

9. Thanks for the headsup on this, marmar. Rec. nt

[Caretha]

10. My Chase cc

will paid off 11/2010. I didn't select them but they took over WaMu who I had a cc with. They offered me a new CC when that happened and I declined, so only have a balance with Chase now.

When that is paid off - 1 1/2 months from now - I'm going to call them and tell them to never ever send me an app or darken my door again.

[Fire1]

11. Heard about this yesterday and I'm changing banks

tomorrow. These fuckers strung me along for a whole year until finally *forced* to tell me that my they denied my modification. A week later, they sold my mortgage! Fuck 'em.

[Fire1]

12. dupe.

[ekelly]

13. Did the news conference occur on the 24th?

Was a timeline given for when the hundreds of millions would be withdrawn?

I am curious to know if any conditions were laid out at the news conference.

[sabrina 1]

14. People should use credit unions and small community banks.

Chase, Wells Fargo et al have no interest in this country. They got their bail-outs and then threw ordinary people out of their homes and refused to modify mortgages until people got back on their feet.

But I blame Congress who could have forced them to deal fairly with mortgage holders before handing them tax dollars to bail them out. Instead, they passed a 'sense of Congress' 'recommendation' that now that they were bailed out, they would talk to customers about mortgage modifications. This was not binding at all, it was just politely asking them to be nice. As if they can be trusted to be nice.

Many people I know have withdrawn their money from big banks and gone to Credit Unions and smaller Community Banks, which are much safer anyhow.

[fascisthunter]

21. That's Where I'm At.... I Like my Bank Very Much

good call...

[tammywammy]

15. k&r

[femrap]

16. I don't know why

anyone banks w/ Chase or any of the other Leeches on Society. Find a nice local bank and be happy.

[tammywammy]

17. I use a local credit union

I'm very happy with it.

[wxgeek7]

18. something wrong

There's something wrong with a bank that charges a $39 late fee. And now here's something else to confirm my suspicion. I will NEVER do business with these guys, nor any Bank for that matter. Credit Unions rock!

[subterranean]

19. They tried to bribe me to open an account with them.

They sent me an offer for $100 FREE just for opening a checking account with them. I figured there must be a catch, because banks are not in the habit of giving money away, and besides, how good can they be if they have to pay people to do business with them? So the offer went into the trash.

[dionysus]

20. fwiw, most banks offer a small amount like that if you sign up and set up direct deposit.

[AngryOldDem]

22. I have a checking and savings account with Chase.

And I don't EVER go into the lobby when I have business to transact because they always want to talk me in to signing up for stuff I don't want or need.

[Iwillnevergiveup]

23. Withdrawing oodles of money

from Chase accounts will do more than John Conyers ever could. Credit unions - YES!

K&R

[indimuse]

KNR! n/t

[indimuse]

24. KNR! n/t

[ezmerelda39]

25. Chase also has

a really good thing going with those drawing on unemployment benefits...they issue a credit card from their bank for funds available for those on unemployment and it costs you every time you go to use it unless you are buying something like gas. If you need cash (and who doesn't?) it costs you every time you withdraw money from your unemployment account. In other words Chase is receiving a windfall from those out of work.