Big banks have new foe in Fresno faith group

Source: Fresno Bee

A Fresno faith group on Friday urged people to move their money out of five large banks, blaming the corporations for bad home loans, foreclosures and the nation's struggling economy.

Members of Faith In Community -- an interdenominational organizing group -- joined with Peace Fresno and Occupy Fresno to call for a divestment of accounts with Bank of America, Wells Fargo, Citigroup, JPMorgan Chase and Goldman Sachs.

... About 50 people who gathered at St. Anthony Claret Catholic Church in southeast Fresno held signs with names of people who have transferred or will transfer their money from the targeted banks to credit unions or local banks in the Fresno area.

Those transfers totaled nearly $750,000 since the fall, they said, money that will be invested in local communities through credit unions and small banks, rather than filling the pockets of the corporations.

Read more: http://www.fresnobee.com/2012/07/13/2908944/big-banks-have-new-foe-in-fresno.html