Bank of America employees say it's time to speak out against predatory banking practices

| 1 Comment | No TrackBacks
Bank of America employees say they are not going to be silent anymore. They want to share their insight and stories about predatory practices they feel they were forced to take part in to keep their jobs. They are tired of keeping their dirty laundry hidden and tired of  "pushing premium services to those who don't need - or can't afford - them."  Bank employees backed by their union claim that Bank of America and other large banks encouraged customer service representatives and tellers to burden consumers with debt and enroll them in high-fee programs

$36.6 billion in bonus money was given to Bank of America executives last year, yet their employees continue to work without overtime pay struggling to make ends meet. "We're tired of working without overtime pay - just 15 minutes of unpaid overtime each day adds up to two full weeks of lost pay each year. Every little bit helps us and our families."

If you are a bank employee who wishes to speak out about what you see at work -visit and share your concerns and personal experiences. Current or former bank employees who wish to speak with national reporter, also see earlier blog here.

Here's what one former Bank of America employee said:

    "From sun up until sun down, six days a week, I was under constant pressure to push products that were usually bad for consumers and were -- in my opinion -- unethical," said Gabby Ornelas, a former Bank of America Personal Banker from the Washington, DC area. 

For more info read recent articles in the LA Times and the Associated Press and the Huffington Post .

In order for bank employees to freely speak out against bank fraud and predatory practices, we need strict enforcement of whistleblower protections.

How to Take Action

1. Congress will soon debate financial reforms to protect consumers - we need to make sure that those reforms protect employees that sell the banks' products, in addition to giving bank workers a voice on the job with the Employee Free Choice Act.  Send a letter to your U.S. senators and representative in Washington, D.C., and ask them to support the Employee Free Choice Act.

2. Sign the Petition at in support of protecting bank workers who blow the whistle on bad banking practices.

No TrackBacks

TrackBack URL:

1 Comment

Please review this information regarding Predatory Lending...

Leave a comment

A memoir exposing the steep price consumers pay when facing mortgage servicing errors, inaccurate credit reporting, illegal debt collection practices, identity theft and weak consumer protection laws. THE BOOK » DENISE'S STORY »