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Citigroup, Wells Fargo, Bank of America urge shareholders to vote against racial-equity audits
Marketwatch (CBS) ^ | 3-17-21 | Levi Sumagaysay

Posted on 03/18/2021 9:28:49 AM PDT by wac3rd

Three of the nation’s biggest banks are asking shareholders to reject racial-equity resolutions after they expressed solidarity with the Black Lives Matter movement last year.

Citigroup Inc. C, 3.22%, Wells Fargo & Co. WFC, 3.83% and Bank of America Corp. BAC, 4.87% were among the many large U.S. companies to make public statements of support in response to widespread protests last summer after the police killings of George Floyd and Breonna Taylor. In recent days, they have all officially opposed shareholder groups’ calls for them to conduct and publicize racial-equity audits and other changes, saying they are already doing enough to address equity issues.

The shareholder proposals urge the banks to examine their practices and policies and identify ways to “avoid adverse impacts on nonwhite stakeholders and communities of color,” something the banks says is unnecessary because they are juggling different, related initiatives and/or have committed money to such issues internally and externally. The proposals are included in proxy statements to shareholders, which allow for the companies to support or oppose shareholder resolutions and explain why ahead of a vote at their annual meetings.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: banking; bigbanks; blm; boa; citigroup; racialequityaudits; socialjustice; wellsfargo
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To: Dawgreg

Standing in line today at the credit union, I over head this conversation: I wants to know how I gets my new mortgage on house I just bought paid by my unemployment check which gets sent to this credit union. The mortgage be with a bank.

So I am thinking, how does one get a mortgage approved when someone is unemployed?? Or is someone getting unemployment while having other income. BTW, the Bank is BofA.


21 posted on 03/18/2021 10:26:24 AM PDT by Mouton (The enemy of the people is the media.)
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To: Mouton

The banks and government know that they can continue to print money, until we are Venezuela or Zimbabwe...or Mexico.

Cloward and Piven Strategy to collapse the economic system and then implement Communist rule to keep us in-line. When you have the electricity, fuel and food, you wield a ton of power. Gun-less, hungry and unemployed people will pretty much sell their souls for a bowl of soup, especially if you have kids. Look at the inner cities and rural counties, most are on the dole and have no way off of it. It’s sad, but according to plan.


22 posted on 03/18/2021 10:37:31 AM PDT by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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To: Dawgreg

Special illogical financial responsibility privileges for non persons of color....

Excellent points.

Much of the housing crash in the 2000s was when banks freely signed onto totally insane mortgage deals for people who couldn’t-—and didn’t——come through. Many of the nice foreclosed houses now have Section 8 people living in them for practically free (small honorarium paid).


23 posted on 03/18/2021 10:44:13 AM PDT by frank ballenger (End vote fraud, harvesting,non-citizen voting & leftist media news censorship or we are finished.)
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To: wac3rd

I closed my 25+ yr old account with b of a after the stunt they pull on jan 6th. as far as I’m concerned, they can go f themselves


24 posted on 03/18/2021 10:44:39 AM PDT by Jeff Vader ( )
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To: wac3rd

Closed my last BoA account last year.

I’m happy now.


25 posted on 03/18/2021 10:57:02 AM PDT by PeteB570 ( Islam is the sea in which the Terrorist Shark swims. The deeper the sea the larger the shark.)
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To: PeteB570

Closed mine in 2019. Moved all accounts. No credit cards or any cash in there. Used to work there, back 20+ years ago, too. A PC-loser-Commie-Crony-SJW organization.


26 posted on 03/18/2021 11:18:14 AM PDT by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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To: NEMDF

I think you may be right.......sounds sensible to me but when any organization of color/feral gooberment is mentioned I automatically revert to thinking what I did. I hate the big banks and it’s good enough for them.


27 posted on 03/18/2021 11:19:56 AM PDT by Dawgreg
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To: Mouton

Yes I remember that.......something about FannieMae and FreddieMac.......two of the gooberments more successful catering to a certain class?...../s


28 posted on 03/18/2021 11:21:15 AM PDT by Dawgreg
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To: wac3rd

One major lesson I’ve learned over the years is “it’s never enough.”


29 posted on 03/18/2021 11:23:43 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: frank ballenger

Tell you what, this lefts destruction of the economy has been going on longer than I thought......but thinking back YEAH! Trump exposed tried to do something about it and in doing so he put a target of every Deep Stater on his back. I hate Demonrats/DeepState/RINOS/Moderates......the list goes on


30 posted on 03/18/2021 11:25:34 AM PDT by Dawgreg
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To: wac3rd

Wokeness apparently hath its limits. Good on Banco de las Americas, Citigroup and Wells FargoBargo for showing a glint of sanity.


31 posted on 03/18/2021 11:28:35 AM PDT by Tolerance Sucks Rocks (GOP-free since 10/9/20)
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To: PeteB570

I did the same thing with Wells Fargo......once in closing our account, the other in having their names attached to servicing credit with Dillards....a card I had for eons that I have no more. It’s so stupid for me to even have a credit card......I charge something like Macy’s/Dillards/PalaisRoyal then come home and pay the things off.........I’ll just stick with American Express. Been with them since ‘77 and you pay as you go and I don’t wanna know how woke they are cause they never get a penny’s worth of interest outta us anyway. I can’t remember the last time my balance was under 2500.00. Some of our auto-debit and Hub ordering everything from soup to nuts for the household every month, ordering take out and such. It’s nice to shop from the comfort of one’s recliner......;)


32 posted on 03/18/2021 11:33:40 AM PDT by Dawgreg
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To: Jeff Vader

I paid off the credit card with b of a. Also paid off the second mortgage years ago. The only reason I got with b of a in the first place was countrywide. It is my opinion that b of a should not have the right to call themselves the Bank of America.


33 posted on 03/18/2021 11:46:00 AM PDT by webheart (COVID was not worth the economic misery that it took to keep me from getting it for 7 months..)
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To: wac3rd
I could give a sh- about what happens to these SJW organizations.

Same here, you can add the unions to that.

34 posted on 03/18/2021 11:50:06 AM PDT by usurper ( version )
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To: polymuser
Gee, they don’t want to give out high risk loans? RACISTS!

ONE color-blind qualification standard is adequate - more than adequate...

35 posted on 03/18/2021 12:11:03 PM PDT by GOPJ (Rasmussen:75% of Americans support voter ID laws.(60% Democrat support - 89% Republican support.)
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To: wac3rd

I have left BoA now after their comments last year and previous comments on gun control. My last few dollars were there to cover any outstanding purchases. They lost someone who had enough to be a preferred customer but have I heard from them? Not a word.


36 posted on 03/18/2021 12:47:09 PM PDT by Midwesterner53
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To: wac3rd

lol - banks want us to vote to save them from cancel culture they themselves funded and encouraged? that’s cheeky.


37 posted on 03/18/2021 3:58:39 PM PDT by blueplum ("...this moment is your moment: it belongs to you... " President Donald J. Trump, Jan 20, 2017) )
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To: polymuser
As a reminder of who exactly is to blame for that HUD fiasco . . .

https://www.villagevoice.com/2008/08/05/andrew-cuomo-and-fannie-and-freddie/

38 posted on 03/19/2021 6:48:26 AM PDT by Sgt_Schultze (When your business model depends on slave labor, you're always going to need more slaves)
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To: Sgt_Schultze

And going further back, CRA:

The Community Reinvestment Act was enacted in 1977 (by D House, D Senate and D President Carter). Congress found that banks have an obligation to help meet the credit needs of their local communities, including low- and moderate-income neighborhoods.


39 posted on 03/19/2021 7:42:19 AM PDT by polymuser (A socialist is a communist without the power to take everything from their citizens...yet.)
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