Bank of America Chairman Ousted

So, remember how I kept harping on Bank of America's misuse of bailout money, support of right wing reactionary causes, their horrible customer service and their predatory lending practices? Well, I am not the only one who was pissed. Seems Bank of America shareholders have voted to oust their CEO. This comes from SEIU:

Something remarkable happened yesterday. A majority of Bank of America's shareholders voted to oust Ken Lewis as Chairman of the company's board.

This is huge.

Shareholders cast an unprecedented vote of no confidence on Ken Lewis' leadership at Bank of America. It's the first step to real accountability at the financial giant...

After weeks of advocating for major reforms at Bank of America we delivered more than 90,000 signed "taxpayer proxy cards" to the shareholder meeting yesterday. Allies like MoveOn.org, Brave New Films, True Majority, and many others were instrumental in the success of our actions.

Let's be clear: what happened yesterday is just the first step towards holding Bank of America accountable. Shareholders delivered a major vote of no confidence, but there's much more to be done.

While Ken Lewis is out as chairman of the board, he still remains the CEO of Bank of America. That's why we're calling on CEO Ken Lewis and new BofA Chairman Robert Massey to immediately implement these changes:

1. Commit to real financial reform
2. Stop consumer abuses and predatory lending practices that hurt communities
3. Provide bank workers access to affordable healthcare
4. Stop lobbying against pro-worker legislation like the Employee Free Choice Act to ensure bank workers have a voice on the job to protect consumers.

But for today, take a moment to watch this video about your efforts and what we've accomplished in the last several days. Click here to watch and tell your friends:

http://action.seiu.org/page/invite/hugenewsbofa

Thanks for all you've done to reform Bank of America. Our work is just beginning. We're glad to have you on board.

Here's the video:



I continue to urge you to consider banks that have better customer service and have avoided the worst of predatory lending. My recommendations have been USAA, US Bank and TD Bank. But others are favoring their local credit union. But Bank of America, Citygroup and AIG are financial institutions that have screwed America too many times.