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Issues & Victories

Financial Reform



Common Ground wins over $4 million for foreclosure mitigation and neighborhood development in Milwaukee

Southweast Wisconsin Common Ground successfully negotiated over $4 million in housing re-investment from financial institutions whose foreclosures had devastated the Sherman Park neighborhood of Milwaukee.  




GBIO creates a national model for financial literacy education.

Pastor Soliney Vedrine and Winique Green look on as testimony is given about the Greater Boston Interfaith Organization's Moving from Debt to Asset's program.  This groundbreaking financial empowerment program has graduated more than 700 graduates and provided each of them with $500 scholarships to begin a financial savings plan.


In the News


Alinsky, Foreclosures and Holding Banks Accountable

Thursday, February 2, 2012
The Huffington Post

 

<p style="\\&quot;text-align:" left;\\"="">Memo to the Obama Administration: if you want to see the makings of a national model to hold big banks accountable for fixing foreclosure-devastated neighborhoods, go to Milwaukee and talk to citizen leaders of a community organization who are practicing what Saul Alinsky preached.


Eric Schneiderman is right to fight Obama administration\'s bad foreclosure settlement with the banks

Sunday, November 27, 2011
New York Daily News

BY REV. DAVID K. BRAWLEY AND MICHAEL GECAN

While most attention is focused on a drawn-out debt crisis in Washington and spasmodic demonstrations in several cities, the most important economic and political battle of the period is being played out largely under the radar.  This struggle pits the White House and a set of attorneys general who want a quick and limited settlement with the major banks over their conduct during the foreclosure crisis against another set of attorneys general, led by Eric Schneiderman of New York and Beau Biden of Delaware, who are pushing for more in-depth investigations and a much larger financial commitment to address the damage done to American homeowners.


More focus needed on housing fix (By Sen. Mark R. Warner, D-Va.)

Thursday, November 10, 2011
The Hill

U.S. Senator Mark Warner reacts to VOICE's organizing around the foreclosure crisis in Northern Virginia.


Interfaith group seeks help from banks in housing crisis

Monday, October 31, 2011
The Washington Post

Members from more than 40 religious institutions across Northern Virginia are asking some of the country’s largest banks to commit to helping rebuild neighborhoods that have been devastated by housing foreclosures. Virginians Organized for Interfaith Community Engagement (VOICE) drew a crowd of about 900 congregants, political leaders and representatives of two major financial institutions — Bank of America and J.P. Morgan Chase — to Freedom High School in Woodbridge on Sunday to discuss the issue.


Occupy Wall Street\'s anger isn\'t enough: How the push for change can be sustained

Sunday, October 16, 2011
New York Daily News

More than two years ago, on a brilliant July morning, we were two of about 350 New Yorkers who took to CharlotteLondon were doing the same thing. It was a coordinated campaign led by the pastors, rabbis, imams and lay people in hundreds of religious and civic institutions associated with the <a data-cke-saved-href="\\" href="\\&quot;http://www.nydailynews.com/topics/Metro+Industrial+Areas+Foundation\\&quot;" title="\\&quot;Metro" industrial="" areas="" foundation\\"="">Metro Industrial Areas Foundation.


Probing Pr. William foreclosures, group sees widespread irregularities, ‘robo-signed’ papers

Wednesday, September 21, 2011
The Washington Post

Lenders may have foreclosed on hundreds of homeowners in Prince William County, Manassas and Manassas Park using unreliable, “robo-signed” documents, according to a report by the group Virginians Organized for Interfaith Community Engagement.


Prince William Residents Blame Robo-signing For Rash Of Foreclosures

Wednesday, September 21, 2011
WAMU Radio

Prince William County has the highest rate of foreclosures in Virginia, and residents of one neighborhood who blame the foreclosure rate on the practice of 'robo-signing,' are demanding accountability from the banks and an investigation by state officials.  At the height of the foreclosure crunch, approximately 25 percent of homes in the Georgetown South development in Manassas were foreclosed and vacant. 


Americans Facing More Inequality, More Debt and Now More Trouble?

Thursday, August 18, 2011
PBS News Hour

Did America's record-high level of economic inequality in 2007 help cause the financial crisis of 2008? With Americans' borrowing back on the rise and signs that economic inequality is growing, could there be another financial crisis in the near future? Paul Solman continues his series of reports on U.S. economic inequality.


Candidates vow to fight high-interest lending

Saturday, July 24, 2010
Washington Post

The major candidates for mayor and D.C. Council chairman promised Monday night that they would push to remove city money from any bank that charges more than 10 percent interest on consumer loans.

Democratic mayoral candidates Adrian M. Fenty and Vincent Gray and chairman candidates Kwame Brown and Vincent Orange made the pledge to the Washington Interfaith Network as part of the group's 2010 election agenda.

Facing more than 800 WIN members representing more than three dozen local congregations, the candidates also agreed to spend more to weatherize houses to spur job creation, create more affordable housing, launch a citywide youth basketball league and stop diverting the city's $100 million Neighborhood Investment Fund to other uses...


Battling to save financial souls

Monday, February 9, 2009
Boston Globe

For 11 years, Lea Jerome of Charlestown was a spending fiend. She attends Boston Missionary Baptist Church in Roxbury every Sunday and likes to look good when she goes there. So she'd buy pants and long dresses that she loved to pair together or shop at DSW for shoes. Sometimes she'd never even wear her purchases...


Massachusetts moving money out of 3 big banks to protest credit card rates

Washington Post

Massachusetts officials on Wednesday announced plans to move millions of dollars in state investments out of some of the nation's biggest banks to protest credit card interest rates.

State Treasurer Timothy Cahill said the state has removed Bank of America, Citi and Wells Fargo from a list of institutions approved for new state investments. Massachusetts, which is the only state to make such a move, is also beginning to divest $243 million in funds held at those banks, though the process could take up to six months...


Taking discontent to the bank

Boston Globe

Chuck Koplik of Lexington had kept his money at the same bank since 1977, through several mergers and acquisitions. Until last week.