Business & Tech

'CODEPINK' Protesters Rally in Beverly Hills Against Bank Foreclosures

To the chant of "Here we come to save the day, we're busting B of A," protesters conducted a mock arrest of Bank of America President and CEO Brian Moynihan.

In recognition of International Women’s Day on March 8, protesters wearing superhero costumes rallied outside a Beverly Hills Bank of America branch Thursday in support of women and families who have lost their homes due to bank foreclosures.

“It’s International Women’s Day. This is the day women get to come together and say what doesn’t work in our society,” said protester Laurie Kaufman, who dressed up as Superwoman Occupy. “Bank of America is one of those things. They’re too big to fail but they’re too big to exist. The president couldn’t stop them and neither could Congress. So we’re calling on all superheroes to come out, save the day and stand up for the little person.”

The event was coordinated by CODEPINK, a women-initiated grassroots social justice movement. The rally took place at the Bank of America branch at 9454 Wilshire Blvd. Similar protests were held at Bank of America branches in New York City. Also taking part in the rallies were the groups Women Occupy, Rainforest Action Network, Public Citizen and Green Festival.

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The Beverly Hills protesters conducted a mock arrest of Bank of America President and CEO Brian Moynihan. Event organizers had released a statement earlier in the week accusing the bank of participating in illegal foreclosure practices and faulty loans.

“Women have long been the prime targets of predatory bank policies and economic collapse,” Jodie Evans, CODEPINK co-founder, said in the statement. “Women are 32 percent more likely than men to receive subprime mortgages, and Latina and African-American women borrowers are most likely to receive subprime loans at every income level. It’s time to tell Bank of America that we’re not going to take it anymore.”

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Protesters entered the ATM area at the bank’s entrance but were asked to leave. Soon after, a Los Angeles County Sheriff’s Department officer stood guard at the front doors to keep the protesters out. Beverly Hills police were monitoring the situation. 

Bankruptcy attorney Sheila Esmaili works in the same Wilshire Boulevard building where the Bank of America branch is located.

“I see this happening every day,” she said of people losing their homes to bank foreclosures. “So I really support the people out here today. I hope finally there can be something done about it.”

In February, Bank of America was part of a $26 billion foreclosure settlement with federal and state authorities relating to allegations of abuses as part of the foreclosure process. Of the five banks involved in the deal, Bank of America has the largest share of the mortgage-servicing market, according to The New York Times. The settlement prevents authorities from suing the banks for certain transgressions.

Bank of America representatives declined to comment about the International Women’s Day protests.

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