.UAW may pull Chase accounts

[Blue_Tires]

Source: Detroit News

United Auto Workers President Bob King and religious leaders say they plan to withdraw hundreds of millions of dollars from JP Morgan Chase accounts to protest the bank's refusal to agree to a two-year freeze on foreclosures in Michigan.

King, farm union leader Baldemar Velazquez and two clerics will hold a conference today at the Central United Methodist Church in Detroit to announce their campaign against the New York-based bank.

"Chase needs to help unemployed homeowners in Michigan," King said in a statement.

Organizers also are protesting the bank's ties to the tobacco company RJ Reynolds Corp., which they say has refused to negotiate with the Farm Labor Organizing Committee over wages and working conditions at farms of contract growers in North Carolina.

The statement said King is prepared to withdraw all of the UAW's funds from the bank.

"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," said Pastor Alexander Bullock with the Rainbow PUSH Coalition.King's involvement further underscores his promise that he would increase the social activism of the UAW, which has focused in recent years on preserving the hard-won gains of current and retired workers.

Organizers are calling on people to close their Chase accounts and cancel Chase credit cards in a campaign that tries to tap into the popular frustration with big banks, which received federal aid during the financial crisis.




Read more: http://detnews.com/article/20100924/AUTO01/9240362/1148/auto01/UAW-may-pull-Chase-accounts

[Bozita]

1. Good on the UAW!

[Delphinus]

14. Agreed! n/t

[virgogal]

2. Good. I canceled my Chase CC about 5 years ago. Slimey bastards.

[indimuse]

3. KNR! n/t

[GreenPartyVoter]

4. More power to them!

[defendandprotect]

5. Good ... but banks won't care ... they've got drug money laundering to keep them busy!!

[onethatcares]

6. credit unions would love to have that money.

screw boa and chase, and citi.

[DBoon]

12. Isn't there a UAW affiliated credit union?

If so, an excellent place to which to move your money

[Romulox]

7. This is a positive step! i support this. k/r nt

[Monique1]

8. I am closing my Chase account

but I need to make sure my money is deposited for the last time. I want to make sure my money goes into my credit union.

Personally, I have had it with Chase.

[dballance]

9. I Took All My $ From Skank of America years ago

I do business with my local credit union now. Everyone should take their money away from these awful banks. Chase, BofA, Well Fargo. They don't give a crap about us.

[fascisthunter]

10. good! (nt)

[TBF]

11. K&R nt

[Iowa]

13. K&R. Why were they doing business with those slime-balls to begin with?

They should be apologizing for helping to prop up that shit organization with their patronage all these years. They should have pulled out long ago.

[Lucretius]

15. Be very careful when closing accounts with chase

I convinced my friend to close his account with Chase and move
to a local bank.  Four months later friendly local bank froze
his account and shut down his ATM card.  When asked why, they
presented a print out that Chase had informed them that he was
$400 delinquent on the closed account.  Seems Chase had found
a nickel that they claimed he owed them and over time the fees
and interest had transmuted that 5 cents into 400 bucks which
automatically was referred to a collection agency as it is not
their policy to contact former customers.  Of course, between
the time collection agency notified the friendly local bank
and my friend tried to access his money, the 400 hundred had
been transmuted into 500.  They did a total financial scorched
earth campaign on him and now he has to use a check cashing
service to turn his social security check into money orders to
pay his bills.  It is not their policy to make any corrections
to accounts that have been turned over to collection.  He's
disabled and frail so we scrapped up the 500.01. Yet just
today, four months later, he received a bill from them
claiming a penny was still owed and it had magically turned
into 18.05.  Their system doesn't show the account as closed
at all.  And so it goes.  
Document everything!!!