SEIU Launches Multi-Media, Multi-Industry Effort Calling on Bank of America and Others to Stop Hurting, Start Helping Economic Recovery

WASHINGTON -- SEIU joined workers and consumers at Bank of America locations around the nation today to call for the Bank to use taxpayer funds to help our economic recovery--or give the money back. Bank of America received $25 billion in taxpayer funds as part of an economic recovery package and today is back in Congress asking for more. Yet, since receiving bailout funds, the Bank has announced it intends to layoff 35,000 workers and it continues to charge consumers some of the highest service fees in the industry. Plus, Bank of America is failing to provide some of its workers with healthcare, passing the estimated $50 million annual cost on to taxpayers. Meanwhile, the company invested $7 billion in an overseas bank, paid $10 million for Washington lobbyists, and owns nine corporate jets.

We gave them the chance to help our struggling economy-- we even gave them the money to do it-- and they failed," said Stern. "This is really an insult to America's working families and a sign of how badly things need to change."

SEIU announced today its new project to shine a light on the economic damage these corporations do and to call on them to come to the table and work with their employees, communities, and consumers to find economic solutions. The project kicks off in Charlotte, New York, Boston, LA, and today with actions at Bank of America headquarters. Simultaneously, the campaign is mobilizing more than half a million e-activists and sending videos out to more than 7,000 key decision makers. This is among the union's most ambitious efforts to date.

"We're encouraging everyone to visit Bank of America, talk to the workers, learn what's going on," Stern remarked. "We all need to speak up and demand better. We all need economic recovery that works."

For the past five years, some of our nation's largest and most iconic corporations have made money using business models that enrich shareholders and CEOs while taking advantage of American workers and consumers. With our economy sagging and indicators showing things are getting worse, American families have overwhelmingly called for a much-needed change, but these corporations are fighting back, resisting solutions. Today, SEIU is launching a huge national effort to hold these corporations accountable for the damage they've done to our economy and the damage they continue to do.

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