Dozens of protesters descended on Boston Bank of America branches today, following the company’s announcement that it will slash more than 30,000 jobs in the coming months.
With shouts of “Bank of America: bad for America” and “We can see your greedy side!,” local residents went to bank branches in Fields Corner and Grove Hall, presenting three core demands of the financial giant:
- Pledge to renegotiate underwater mortgages and stop foreclosures
- Resume lending to small businesses
- Stop layoffs
Check out a video of the action:
Despite its claims of financial hardship in the media, Bank of America posted a $10.2 billion profit in 2010 – and raked in an additional $1 billion federal tax refund. The company pointed to fallout from the housing bust as the rationale for its latest round of mass layoffs. Bank of America holds the largest number of foreclosed properties in the country, but refuses to renegotiate with many former homeowners.
Organizers promised a series of demonstrations against Bank of America in the coming weeks, including BofA Massachusetts President Robert Gallery’s address to the Boston Chamber of Commerce Tuesday morning.