Washington, DC–(ENEWSPF)–November 4, 2011. The New Bottom Line’s Move Our Money campaign launched on Monday and already $5 million has been withdrawn from Bank of America and other Wall Street banks such as JPMorgan Chase and Wells Fargo. On November 4 and 5 – to coincide with Bank Transfer Day – community groups and individuals aligned with The New Bottom Line will be closing their bank accounts at big banks and transferring it to community banks and credit unions with the goal of moving $1 billion by the end of the year. Amounts moved are reported and tracked at http://www.moveourmoneyusa.org/.
The New Bottom Line is supporting local groups with a toolkit at www.newbottomline.com/move_our_money, which includes sample legislation for groups taking the next step in advocating for responsible banking ordinances in their cities and towns.
Who: Community groups moving money from big banks in California, Missouri, Montana, Oregon, Virginia, and Washington State
What: The New Bottom Line’s Move Our Money campaign
When: Bank Transfer Day, November 4-5, 2011
Where: Event location and details are listed at http://www.moveourmoneyusa.org/calendar
Why: To reach the goal of moving $1 billion from Bank of America and other big banks to community banks and credit unions that make small business loans, help create jobs, and invest in the community. To hold Wall Street banks accountable for crashing the economy, including foreclosing on millions of families, avoiding their fair share of taxes through loopholes and offshore accounts, and cutting back on loans to small businesses that could create jobs.
The New Bottom Lineis a new and growing movement fueled by a coalition of community organizations, congregations, and individuals working together to challenge established big bank interests on behalf of struggling and middle-class communities. Together, we are working to restructure Wall Street to help American families build wealth, close the country’s growing income gap and advance a vision for how our economy can better serve the many rather than the few. Coalition members include PICO National Network, National People’s Action (NPA), Alliance for a Just Society, and dozens of state and local organizations from around the country.