Bernie Sanders Calls For Boycott Of Big Banks To Support Occupy Wall Street

[kpete]

Source: Business Insider

Bernie Sanders Calls For Boycott Of Big Banks To Support Occupy Wall Street
Zeke Miller | Oct. 16, 2011, 1:34 PM | 1,079 | 38



Bernie SandersVermont Sen. Bernie Sanders, who identifies as a socialist, called for a boycott of major banks in support of the Occupy Wall Street protests.

In a tweet, https://twitter.com/#!/SenatorSanders Sanders said "People might want to think about going to your local community bank and withdrawing funds from these large institutions. #ows"

Sanders has been one of the most outspoken proponents of the protests, taking to Twitter to criticize the financial industry and echo many of the complaints of the protesters.




Read more: http://www.businessinsider.com/bernie-sanders-calls-for-boycott-of-big-banks-2011-10

[Omaha Steve]

1. Bernie should have his own national political show

K&R!

[defendandprotect]

21. K&R --

[defendandprotect]

22. Would add -- let's start focusing on the CREDIT CARDS -- we do the work, they profit .....

and it adds to the expense of every item we buy -- for us and for the

small business!!

[girl_interrupted]

39. And it's too bad Bernie's credit card reform bill wasn't passed

instead of the crappy one that did. Sander's bill would have capped interest rates, and help put an end to usury. No such luck. Banks got a free pass on that one. Sickening.

[OswegoAtheist]

40. Weekly addresses from the Oval Office! n/t

Oswego "#occupyoswego" Atheist

[valerief]

45. Yeah, called the Executive Office!!!! nt

[rhett o rick]

49. He does, sort of. He is on Thom Hartmann every Friday on the radio and

Free Speech TV. Please support FSTV and progressive radio.

[harun]

50. Great advice, thx!

[prairierose]

54. Brunch with Bernie.... Friday mornings on....

Thom Hartmann and Free Speech TV. Bernie talks to Thom and answers questions from callers for an hour. This has been going on for years. FSTV has started promoting it.

[Dont call me Shirley]

56. Brunch With Bernie on Thom Hartmann, every Friday morning, FStv

[LeftofObama]

2. I can't say it enough...

I ust LOVE Bernie Sanders!

[formercia]

3. When you need something done right...

...sometimes, you just have to do it yourself.

Let's see how well this Fractional Reserve business works out.

[SoapBox]

4. Luvs ya Bernie!

...and here is a link to the National Credit Union Administration, if anyone wants
to check out credit unions in their area.

http://www.ncua.gov/

[rsmith6621]

5. Where does Bernie have his $$$$ AT right now ???

.....A bank like Citibank/BoA or a local credit union.... I would like to know how consistent he is.

[avaistheone1]

52. I am confident he is very consistent.

Bernie walks the talk.

k&r

:kick:

[cui bono]

63. I would bet a ton of money on him having it in a local bank or CU.

Bernie walks the walk.

[RKP5637]

6. I love Bernie Sanders!!! n/t

[TexasPaganDem]

7. Helpful tips

As a banker, and as a private person, I've been following the Occupy Wall Street and Bank Transfer Day causes. In the next 2 weeks, if you feel you'd like to close your bank account, there are some things to remember:

- It takes time to close your account. Some items are going to take a few days or weeks to post to your account. You will need to open a new account (if you are going to), transfer your direct deposit and any automatic payments before closing your old account or you may delay your paycheck and/or interrupt your payments on important items. Some automatic payments and direct deposits can force your old account back open, which can lead to unexpected fees. Give yourself 2-4 weeks to allow everything to move to the new account, and time for you to receive your new checks and debit cards.

- Leave any signs, bullhorns, protest posters outside. Feel free to protest outside, but inside, the employees can only help you if sit down with them, not preach to the entire bank. Do not block entrances or exits, or accost the employees. Trying to enter restricted areas will get you arrested. As a federal building, and a bank, if you come in wearing a mask, they will assume you are trying to rob the bank, and you will be arrested if not shot.

- Be professional. The people working in the retail branches are like you, working paycheck to paycheck and trying to make ends meet. You are there to make a statement to the corporations and share holders, not to hassle someone that's just trying to do their job. Their job is to take care of your finances and try to retain your business. You may have an issue with the company, but unless the person across the desk from you is personally rude or unprofessional, give them the benefit of the doubt.

- Be honest why you are closing your account. If it's because of fees, let the banker show you how you could avoid fees. Maybe you were in the wrong account and didn't know it. If it's a service issue, let the branch manager know how the bank failed in that situation. Not happy that a friend's home was foreclosed on, let us know that too. We understand we may not be able to change your mind, but we can't fix it if we don't know about it. Be honest, but not ugly.

- If you have a large amount of funds in your account, don't ask for cash. Ask for a cashier's check or wire funds to your new account. If you are attempting to get more than $10,000 in cash, most banks may ask you to wait several days for additional cash shipments into the branch (banks are required to keep a 10% deposit reserve, but it's kept in central banks, not in individual branches). Most branches can handle a single withdrawal of $10,000, but not several in the same day. Also, there are additional reporting requirements to the government when you withdraw large sums of cash, but not cashier's checks or wires. There may be a fee for the wire, but there should not be one for a cashier's check. There is also a huge security risk of carrying large sums of cash once you leave the bank.

- Don't decide that you're going to just leave a few cents in the account to "stick it to the man" making the bank produce statements and pay for maintenance on your one penny account. You will be charged a bank fee, and the account will charge off. When it charges off, you will be reported to Chexsystems, Transunion or some other reporting agency which will make it harder for you to open accounts in the future. Some banks will close an unrelated account you own at their bank if you have a report with another bank because you are a potential charge off risk. This could leave you with no account, and no way to open a new one.

- With most banks, the checking account is the centerpiece of the relationship. By closing your checking account, you may lose discounts on car loans, mortgages or other loans you are not able to close at that bank. You may also lose bonus rewards on credit card or other programs. Make sure you are aware of this before closing your account. If you have questions, ASK before you close the account.

- Lastly, not all bankers are out to screw people. Not all national banks are bad. Make sure that closing your account is the right thing to do before you do it. Once an account is closed, except for very special circumstances, it's done and over. Where ever you bank, there's usually one person that always has a long line of people waiting just for them. There's a reason for that. Some of us bankers actually care a lot for our customers, and keep relationships that last years and years because we value our clients not as a pile of cash and a number, but as people.

I hope this helps anyone that is looking for the information, and feel free to pass this information along (I'm new, so I couldn't start my own thread with it like I intended). Remember, we're all in this together.

[Lucinda]

12. That's helpful. TY! And welcome to DU!

:hi:

[TexasPaganDem]

15. Thanks!

Thanks for the welcome! Will someone cut and paste this to start a new thread? I thought it was important enough to finally sign up after reading DU for years. The information needs more visibility to help more people before Nov. 5th.

[monmouth]

17. That is a very helpful post and also let me welcome you to DU. I

can see why there is possibly a line of people waiting to work with you..

[Raksha]

24. Thanks for the very helpful advice, TPD...and welcome to DU!

:toast:

I saved your post and I'm going to print it out in a little while. I finally decided to close my BofA account which I've had for over 30 years and open an account at a local credit union instead (haven't decided which one yet). I plan on taking about a month between opening the new account and closing my old one, to make sure direct deposits go to the new account and that all automatic payments get transferred over also.

[elleng]

30. Great info. Thanks, and welcome.

[Jim_Shorts]

37. Wow, thanks, you just saved me from being shot

Who knew that closing a bank account was so complicated. I was all ready to walk into my bank wearing a mask and jump over the counter to get my money.

But you are right, it is about "sticking it to the man" if for no other reason than sending a message.

Good to see ya, have a nice stay.

[rosesaylavee]

42. Thank you and welcome!

:hi:

[w8liftinglady]

43. awesome post,neighbor! Thanks and welcome!

[TBF]

48. Excellent post -

we actually have several small accounts and split the direct deposit between them - it helps with budgeting. One is big bank for convenience/traveling, one credit union, two on-line accounts, and 2 small local bank accts. There is not all that much money in any one account and I realize we could get more perks by having it one account, but we like to keep it split for budgeting and not keeping "all the eggs in one basket" (grandpa's advice - he lived through the depression).

We can move money if we need to for a big expense or whatever, and have most of the direct deducts coming out of one account for simplicity. One is solely for on-line purchases. With some banks you can request on-line statements to save that fee.

Most banks are pretty decent to deal with, the only one I can tell you for certain I will never deal with again is BOA. Other than that no real issues.

[AikidoSoul]

58. Welcome, and thank you for your well reasoned response. I will post it for you if it's allowed.

:hi:

[lunatica]

64. Thanks for this useful information.

I wish I could rec it.

Welcome to DU!

[MindandSoul]

8. Good for him! I left BofA about one year ago after they charged me

4 overdraft fee (for a total of $140.00 for a total overdraft of $65.00. . .in 4 transaction. . .and ONLY because they CHOSE to take out the largest check out of my account first (my tax return check), instead of the 3 small checks that actually reached the bank a day before the large check to pay my Federal taxes!

I still have a mortgage with Citibank. . .and I am trying to refinance it with the credit union I now belong to. .so I won't have anything else to do with big banks!

[Matariki]

9. We should print our own money

and tell the 1% that they are no longer rich. We could let them mow our lawns or something if they want some of the new currency.

[Miss_Underestimated]

33. now there's an idea!! luv it!

:bounce:

[defendandprotect]

55. Great idea!! Actually people create an economy ... not banks - or Wall St -- !!! :)

But we should all remember that mmuch of their currency these days is

collected via bank credit cards -- I'm still trying to totally stop using

them --

[socialindependocrat]

10. Bernie!!! My hero!!! n/t

[seacaves]

11. Use your local credit union. Go Bernie.

[sarcasmo]

28. +1

[mod mom]

13. I'm one step ahead Sen Sanders having dumped Chase in the fall of '09 for a 1 branch

local bank. Couldn't be happier. Never wait in line, don't have to show id as they all know me. We've even rolled over 401 K into CDs at our bank.

[sarcasmo]

14. He should be the spokes person for the movement.

[Raven]

16. I took my $ out of BoA eight years ago and put it in a local

community bank here in NH. Best thing I ever did. I don't notice any reduction in service and I don't pay fees for my checking account or my debit card.

[Odin2005]

18. Go Bernie!

[Vinca]

19. The only language the big banks understand is money, so move it.

Small, local banks and credit unions are more likely to invest in the community, too.

[chill_wind]

23. Agree. A meaningful message and impact when enough of America

begins doing thus on large-scale.

[defendandprotect]

20. Moved out of Late Breaking News???

[Raksha]

25. K & R

[bvar22]

26. Already done in 2006/2007.

Wall Street/Big Banks can Live or Die without our money or concern.




Solidarity99!
--------------------------------------------------------------------------------------------------------------------------------

[LWolf]

27. k&r

[girl gone mad]

29. I will finally be able to break all chains this week.

It took a great deal of effort.

[WillyT]

31. K & R !!!

:kick:

[snot]

32. I moved my accounts from Bank of America to a local credit union ca. 2 yrs. ago--

good on me!

[lonestarnot]

34. K & R!

[eleny]

35. Love you Bernie!!!

[Marrah_G]

36. Credit unions if you can.

[steelmania75]

38. Sanders is the man

[mother earth]

41. Showing collective economic muscle, K & R.

[Luciferous]

44. K&R

[eringer]

46. I am Bank Free since 2005

Closed my last bank account in 2005 (was with on of the major bailed-out banks). I still maintain a relationship with two financial instutitions (both Federally-insured) credit unions. Don't miss the banks at all.

[disillusioned73]

47. K&R for Mr. Sanders..

my fav Senator!!

:yourock:

[lobodons]

51. Its a Wonderful LIfe

OWS seems to have a Wonderful Life message. Up with local credit unions down with the Man.

[davidwparker]

53. K&R

[blackspade]

57. Sanders rocks!

We need more men and women like him.

[marlakay]

59. We belong to small local bank

For last 7 years, even have our mortgage with them. They are very careful with loans must have 20% down and check people a lot. Didn't take a penny from the bail out, didn't need it.

Before people change over find out if they took money, a clue if the are doing good or not.

[orbitalman]

60. K & R

[canuckledragger]

61. K & R

[99th_Monkey]

62. Bernie for PRESIDENT!!! ~nt