Iowans to Big Banks: Give Bonuses to State Budgets
Hundreds of Everyday People to Protest at Wells Fargo Jan. 26
Wells Fargo just announced record-breaking profits, and is expected to announce big bonuses, while the rest of us face cuts. Hundreds of members of Iowa Citizens for Community Improvement (CCI) will go to Wells Fargo Tuesday, Jan. 26, to demand they give back their bonuses to fill gaping state budget shortfalls hurting everyday Iowans.
This protest is part of CCI’s Showdown at the Statehouse, where CCI members will call on elected officials to stop balancing the state budget on the backs of everyday people.
Iowa, like almost every other state in the nation, is facing a devastating budget crisis. Iowa is looking at a $1 billion budget shortfall and budget cuts have already been made on the backs of everyday people (furloughs, wage and benefit concessions and cuts to vital services).
Big banks broke our economy; they must do their part to fix it. Wells Fargo and the other Wall Street profiteers crashed our national economy. Meanwhile, big banks are posting record profits and doling out lavish bonuses as everyday people continue to suffer.
The Wells Fargo protest will be in Des Moines on Tuesday, Jan. 26.
Wells Fargo is hurting hardworking families. They pour money into lobbying against meaningful financial reform. At the same time, they are foreclosing on families and financing payday lenders that charge hardworking families 400 percent interest rates. Iowans say enough is enough.
CCI’s demands for Wells Fargo include:
– Stop financing payday lenders that trap people in a cycle of debt and suck tens of millions of dollars out of our communities each year.
– Modify more loans to keep families in their homes.
– Cancel your bonuses; instead use them to relieve state budget crises.
– Stop lobbying against the people, instead lobby for the Consumer Financial Protection Agency and other financial reforms that put people first.
The Showdown in Des Moines is the first in a series of Showdowns that are being planned across the country where the American people will go toe to toe with the big banks.
In October, more than 60 CCI members participated with thousands of others in the Showdown in Chicago as part of National People’s Action’s (national coalition of grassroots organizing groups of which CCI is an affiliate) Showdown in America (www.showdowninamerica.org). Thousands of Americans called on the Big Banks to stand on the side of the people. The Showdown in America is now coming to Des Moines, where Iowans will tell Wells Fargo enough is enough.