Big banks financially support members of Congress who regularly oppose democratic rights of Washington, DC citizens and hurt the Washington, DC community. Therefore the government of Washington DC should move our money out of these banks and place it in banks and financial institutes that respect our rights.
The city of Washington DC uses several of these big banks including Bank of America, Wells Fargo, Citibank among others to manage our own revenue generated from local tax dollars and other monetary income. These banks use the profits they make from our money to donate hundreds of thousands of dollars to the political campaigns of Members of Congress who continually oppose basic voting rights for DC citizens. Additionally they place 'budgetary riders' in federal bills instructing DC how we are allowed to spend our own local funds on education and health care and even over turning local laws.
The Republican House leadership place many of these bills on the floor of Congress and encourage their members to pass these restrictions. The ranking leaders of Rep. John Boehner (Speaker of the House), Rep. Eric Cantor (Majority Leader) and Rep. Kevin McCarthy (Whip) have been the recipients of over $370,000, from banks the city government of Washington DC uses, in just the past five years.
A cross reference of information provided by the DC Office of the Chief Financial Officer and Federal Election Committee forms shows the following banks as the biggest contributors to opposing DC rights: Bank of America, Wells Fargo, Fifth Third, PNC, SunTrust, UBS, Citibank, Capital One and Bank of New York.
If these banks do not immediately reverse course and stand up for the democratic rights of DC citizens we need to stop letting them profit off of our money. We need to move our money to banks that respect our community.
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Cities moving their money out of big banks:
City of San José Diverts Nearly $1 Billion from B of A as Bank Foreclosure Scandal Mounts
Seattle City Council Eyes Moving Funds to CUs
Portland Joins Seattle in Mulling Moving Funds to CUs
City eyes credit union accounts (Eugene. OR)