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Rochester: Rally and Protest to Call the City to Divest from Chase

OccupyOurHomes on August 20, 2012
Posted in: ActionsBank Protests

 

For Immediate Release: Monday, August 20th

Contact:   Shane Burley, Metro Justice Housing Committee, 503-739-0235

Media Advisory

Rally and Protest to Call the City to Divest from Chase

The people of New York State are fed up.

After a complete financial melt down and massive bailout of taxpayer money, the major banks are still not playing fair with out lives.  JP Morgan Chase, in particular, has made it a practice of foreclosing on homeowners without even the most standard processes that would give people a chance to stay in their home.  Only 6% of people with Chase mortgages looking for help were able to get permanent loan modifications, and 80% of people who asked for one did not receive an offer.  With the understanding that this is the best way to work out an agreement between the homeowner and bank so that a person can stay in their home, it is easy to say that Chase is one of the worst banks to work with in New York State.

Beyond this they have a poor performance under the federal Home Affordable Modifications Program and even the modifications they do give homeowners have not provided the type of help they are intended for.

To add insult to injury, a large sum of the City of Rochester’s finances are held in JP Morgan Chase.  This is public money held in a bank that is refusing to help working families in our community, which contributes to this climate of mass foreclosure and displacement.  In an effort to finally tell Chase that we are not going to participate in their assault on our communities, we are asking the City of Rochester to divest from Chase Banks because of their unfair mortgage practices.

Join us in front of the city’s central Chase Bank for a protest and press conference to deliver the message that we are always cleaning up after Chase, and now we want them out!

This event is co-sponsored by the Metro Justice Housing Committee, Take Back the Land Rochester, Band of Rebels, Rochester Red and Black, and others!

WHAT: Rally to Ask for the City of Rochester’s Divestment from JP Morgan Chase

WHEN: Monday, August 27th, 12pm

WHERE: Downtown Chase Bank, at 1 Chase Square