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Anonymous Wants You to Move Your Money

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Posted on Oct 11, 2011
Anonymous via Eddie Colla

Camping out by Wall Street and peacefully protesting are but two ways of signaling collective displeasure about America’s compromised economic system, but here comes Anonymous with another handy tip for would-be opponents of our nation’s banking behemoths: Let the currency of their realm do the talking.

Ever mindful of the potential impact of the well-choreographed gesture, the elastic band of corporate antagonists has put out a call for supporters to pull their funds from big banks like BofA—which recently announced a new recession-friendly policy of charging customers a $5 monthly fee for the privilege of using their debit cards—and transfer them to the credit union or alternative financial institution of their choice. For maximum oomph, participants are encouraged to move their money and shut down their old accounts by Nov. 5.

Anonymous has created a Facebook page devoted to the cause—check it out by following the link after the excerpt below. To keep up with the cause on Twitter, go here—KA

BANK TRANSFER DAY on Facebook:

WHY ARE WE BOYCOTTING?
The Durbin Amendment is an add-on to the Dodd–Frank Wall Street Reform and Consumer Protection Act (Public Law No. 111-203), signed into law by President Barack Obama on July 21, 2010. The Act allows the Federal Reserve to regulate debit card interchange fees of banks with over $10 billion in assets. Over the summer, the Fed released the final rule on the matter by limiting debit card interchange fees to a maximum of 21¢ per transaction. In response, these “major banks” have decided that beginning early 2012 any consumer with less than $20,000 in combined accounts will be charged a monthly $3-5 fee if they use their debit card at any point during the month. This is a blatant attack on the 99% that cannot & will not be tolerated. In a stand of solidarity, on November 5th we will transfer our money & close our accounts with these major banking institutions to take our business to credit unions (or local banks if a credit union isn’t available). Since #OccupyWallStreet began, these banks are donating our money (and money they’ve made with our money) to law enforcement agencies to heap abuse on our brothers & sisters. NO LONGER.

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Gabriel's avatar

By Gabriel, October 12, 2011 at 12:29 pm Link to this comment

re: Oceanna

As with any information shown it’s a basic practice to be vigilant. Do your own research and dig past many layers of deception.
Persistence is the theme.
After truth is realized then it can be shown to public.

Those who don’t provide links as proof or don’t provide them when asked are usually shills.

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Oceanna's avatar

By Oceanna, October 12, 2011 at 9:59 am Link to this comment

Is this really an Anon link to Facebook?

Why would they post the name of who made the page?

It’s also strange how you have to sign in before you view the page—which isn’t
the case with the OWS Facebook pages and which I don’t think is that typical for
social activist groups.


Since when did Anon start pontificating publicly on memes like transferring to
credit unions that have been around for several years.  Stranger and stranger . .
.

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By Don B, October 11, 2011 at 11:47 pm Link to this comment
(Unregistered commenter)

@toxico Can’t see any reason for not moving other accounts even if BofA did
originate your loan.  “Move Your Money” effort has been in existence for over two
years.  Americans just had not suffered sufficiently at the time nor realized that
Congress is NOT going to make things better.  Now it’s starting to sink in…

@ The End I did not check it for Credit Union listings, but here is a link showing
you highly ranked community banks in your area>

http://us1.irabankratings.com/MoveYourMoney/IRACommunityZip.asp?
affiliate=moveyourmoney&zip=88022&submit=Search

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Gabriel's avatar

By Gabriel, October 11, 2011 at 11:26 pm Link to this comment

re: toxico

Number of options:
1. move most of your money to trusted credit union and leave small amount for your mortgage, let’s say 2 or 3 payments worth, in your present bank

2. learn how to discharge debt like the banks and pros do:
http://projectarise.com/debtelimprocesses.php
study carefully and do your own research as well ... it’s a must!

3. as already said, refinance your loans to other institutions

4. learn how to be a Sovereign and use Settler’s Rights to gain 1/4 section of land per individual to 1 full section of land per family. If you learn fully you will be provided with everything you need to start up ... tools, materials, equipment, etc. etc. .. all you need to provide is your labor to do it.
Note: choose your land carefully as you will need to survive off it. Away from floods, tornadoes, bad water, poisons, etc.

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By chip, October 11, 2011 at 9:07 pm Link to this comment

I thought anonymous was going to take down facebook for selling the peoples personal info to anyone who paid them for it?
Why would they now start a facebook page?

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By Tim, October 11, 2011 at 8:06 pm Link to this comment
(Unregistered commenter)

Some larger employers offer them. As for me, I work for Mayo. They have one, and I’m not sure why I haven’t joined yet. My current bank, Wells Fargo has been drawing my ire for quite some time now:

Robo-signing fraud:

“Herman John Kennerty of Wells Fargo gave a deposition describing the department he oversees for Wells Fargo. It’s a department dedicated to simply signing documents. Kennerty testified that he signs 50 to 150 documents a day, verifying only the date on each.”

And lets not forget:

“Studies found out that high-income blacks were almost twice as likely to end up with subprime home-purchase mortgages as low-income whites. Loan officers were also apparently aware that what they were doing was exploitative, as they referred to blacks as “mud people” and to subprime lending as ‘ghetto loans.’”

So, yep I’m changing over. Revisiting these facts is pissing me off.

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Anarcissie's avatar

By Anarcissie, October 11, 2011 at 7:17 pm Link to this comment

So far I have found no credit unions available to me in Queens, New York.  I find this very odd.  I assume there are laws inhibiting their formation.  When I lived in British Columbia credit unions were normal and anyone could join one.

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Oceanna's avatar

By Oceanna, October 11, 2011 at 6:17 pm Link to this comment

There was a sensationalistic piece earlier on a TV network site, which claimed
that Anonymous was part of OWS and would be doing hacking on their behalf. 
Supposedly that was from a warning issued by Anon, as if they would threaten
like that because they were eager to be intercepted before they committed any
hacking.


Methinks there’s some obvious and deliberate conflation going on with the
Anon and OWS.  As far as this article is concerned, why would they (Anon)
repeat the oft-repeated meme from coverage on the movement about moving
your money to a credit union?  Of course, that’s simply commonsense and
irrefutable advice; however,  Anon isn’t inclined to pontificate but rather to act. 
And stealthily I might add, without giving itself away to mass media! 

Misinformation abounds!

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By Paul, October 11, 2011 at 5:24 pm Link to this comment
(Unregistered commenter)

I don’t see why you could not move your checking and savings accounts to another bank or credit union. True, you can’t really do much about how your mortgage is serviced.

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By Miko, October 11, 2011 at 4:42 pm Link to this comment
(Unregistered commenter)

We should also keep in mind that BoA is doing this in
response to Obama’s new laws about credit and debit
cards.  By all means take your money out of BoA, but if
you want to get at all the culprits and really make an
impact, you’ll want to consider refusing to pay taxes
as well.

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By MeHere, October 11, 2011 at 4:36 pm Link to this comment

Toxico:

From what I understand the only way to move away from a mortgage servicer
you do not like may be to refinance your loan and move to a lender that
services the loans they originate. But apparently lenders can transfer the
servicing of loans whenever they want to.

Another matter is if your loan is not serviced correctly. In that case there is
something called the Real Estate Settlement Procedures Act which has some
rules about servicing loans.

I’m not a lawyer or someone who is in the home loan field. You may want to
consult someone who is.

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John R.'s avatar

By John R., October 11, 2011 at 3:50 pm Link to this comment

This type of dis-information is bound to happen during the present situation.

No harm - no foul - we understand the reasons behind the idea.

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By glider, October 11, 2011 at 2:51 pm Link to this comment

Toxico,

So what?

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By TheEnd, October 11, 2011 at 2:29 pm Link to this comment

Don’t suppose there’s a handy yelp like list of credit unions in my area that don’t suck?  Better than Yelp, though.  Thanks!

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By Kristen Christian, October 11, 2011 at 2:16 pm Link to this comment
(Unregistered commenter)

This movement is in no way associated with Anonymous or Occupy Wall Street. I’m
the sole organizer behind this event. It’s unfortunate that with all of the in-depth
reporting the writer had access to, they chose to spread misinformation.

Report this

By toxico, October 11, 2011 at 1:13 pm Link to this comment

I would like to close my account with BofA, but they administer my home mortgage,which was bought by Fannie and Freddie. What to do?

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