A blog post urges clients of BofA and others to move deposits to community banks and credit unions to protest what the blog calls a return to risky practices by the big banks.
By E. Scott Reckard
January 1, 2010
There can be few institutions more despised as 2010 begins than big U.S. banks, but what can the average person do about it?
The answer, according to author and Huffington Post website co-founder Arianna Huffington: Withdraw your money.
In a widely read blog post this week, Huffington and former Senate Banking Committee chief economist Rob Johnson try to stir up a popular revolt by encouraging bank customers to yank their deposits from Bank of America, Wells Fargo Bank, Chase and Citibank and move them to community banks and credit unions.
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