Goodbye, Bank Of America! Church Divests $3 Million – VIDEO
On Oct 12, 2011 PACTSJ (People Acting In Community Together, San Jose) held a bank accountability press conference to announce mounting divestments.
Specifically, the pastor of Most Holy Trinity Church in San Jose, Calfornia, announced that the group was divesting $3 million from Bank of America and moving the money to a credit union. He also called on California Attorney General Kamala Harris to take strong action to hold banks accountable for their unethical and illegal practices that have caused and prolonged the economic crisis.
“Today is a new day!” he proclaimed to great applause. And later, “Raise your hands! Close your hand in a fist of solidarity!”
San Jose churches, organizations and residents are divesting millions of dollars from big banks due to their unethical policies and practices. In addition to Most Holy Trinity Church, the City of San Jose has moved money out of Bank of America following its social responsibility investment policy.
PACT is also divesting from Wells Fargo. Community members are moving their money to follow their values – closing their accounts with big, national banks that caused the economic crisis and have taken no responsibility or action to be part of the solution.
Watch this wonderful video to feel inspired by the Church in Action:
Photo Credit: johnjuhnphotography