Thousands Protest Against Bank of America, 24 People Arrested

Posted on October 1, 2011

The Boston Herald reports that thousands of people took to the streets in Boston to protest against Bank of America's foreclosure policies. It seems likely that the crowd was especially large because of the news that the bank will now charge a $5 a month fee for debit card use. Bank of America's headquarters are in Boston.

At least two dozen protesters have been arrested for trespassing. Boston police Commissioner Edward F. Davis said, "They wanted to be arrested, and we obliged." T.J. Crawford told the Herald that the protesters were just "individuals [who] choose to ignore the facts and instead focus on increasingly aggressive PR stunts." He said, "Bank of America has a lot to be proud of in Massachusetts, from modifying 18,000 mortgages since 2008, to lending nearly $400 million to small businesses that are fueling the local economy in the first half of 2011."

What a remarkably obtuse and ill-advised statement on Bank of America's part. This has all the earmarks of a major PR disaster for the bank, which has had nothing but trouble since it purchased Countrywide and its near-worthless mortgage holdings. The crowd that marched was quite diverse with people from all ethnicities and age groups, as you can see from this video: