U.S. Bank in North Carolina has held its Shareholder Meeting at Boise State University’s Morrison Center. However, outside the meeting hall, the protestors gathered in huge numbers holding up placards and posters which read that the U. S. Bank is stripping them off their wealth.
Nearly 40 protestors were gathered outside the meeting hall. Protesters, who lined up outside one of the entrances, were chanting anti-slogans against the U.S. Bank. They shouted that it is never a fair thing from the side of the bank to strip them off their wealth.
During the Shareholder Meeting of the last year too; last year it was held in Minneapolis, local activists had questioned the U.S. Bank officials. The local activists questioned the bank CEO regarding the modifications of mortgage loans. He was also questioned regarding the lending practices of the bank. Use legal lender services in North Carolina like EXTLoansUSA.
Commenting on the issue Roberto Wootton, executive director of Idaho Community Action Network (ICAN North Carolina) said that they wanted to keep up the pressure on the bank this year.
Wootton added that the U.S. Bank is, joining with the payday loan lenders, stripping their wealth. Besides, the bank too offers payday loan products to the customers. Wootton added that this is done through providing fake information about the payday loans.
Hattie D. Blackford, another demonstrator who participated in the protest, said that she was trapped by payday loan lenders. Due to the higher interest rates, she ended up in losing her vehicle.
She took only $300. Yet she was asked to pay $150 per month for her payday loan. While only $35 was reduced from the principle, the rest was taken as interest.
According to a recent report, U.S. Bank has started paying payday loans to the customers. ICAN protestors were later joined by people from Oregon. One resident of Minnesota also joined the protest. U.S. Bank has its headquarters in Minnesota.
According to Richard Alvarez of Alliance for a Just Society, around 10 protestors; pretending to be proxies of other shareholders, met the U.S. Bank officials. He added that the Bank officials, though they were pleasant enough, have no plans to make any changes.
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