Bank Protest brings stories from passers-by
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A second large, bailed-out bank was the target of protest in one week. On May 9, MoveOn.org held a demonstration in front of the Rochester offices of Bank of America. The event drew only 15-20 protesters. It was just two days after close to 100 turned out to protest a questionable local foreclosure by Wells Fargo in Victor. That action was held by Take Back the Land, Band of Rebels and Occupy Rochester NY.
The most interesting contributions to this protest came not from the demonstrators themselves but from those passing by. Denise Reed stopped to explain why she moved her money from Key Bank to a local Credit Union. While this action was aimed at Bank of America, Key Bank is not blameless in the financial crisis. It too received taxpayer bailout money and has been implicated in trying to collect loan payments from the families of deceased students.
After the protest, another passer-by, a Korean War veteran who declined to be named or filmed, had an even more interesting story. He called attention to two buildings across the street from Bank of America. One, now sitting empty, still has the inscription "Monroe County Savings Bank" above the door. Another, down the street is a historical landmark. It still has "Rochester Savings Bank" above the door, although the building now houses Citizens Bank. At one time as recent as the 1970's, banks were only allowed to operate within the area, usually the county, in which they were chartered. This kept them close and accountable to the local community which they served. In stark contrast, when foreclosed homeowner Leonard Spears tried to personally deliver a letter explaining his mortgage to Wells Fargo, he was told that the person responsible for his loan was located in Minneapolis, Minnesota. Bank of America is from Charlotte, North Carolina.
