Monday, February 28, 2011

Backyards Not Bonuses - New York Communities for Change

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Despite the fact the only a fraction of homeowners who sought help received a permanent mortgage modification from JP Morgan Chase, the bank's CEO, Jamie Dimon, just received a $17 million dollar bonus.
Clearly, Chase is out of touch with the consequences the financial industry's reckless practices continue to have in our communities.

Yesterday, NYC Council Member Jumaane Williams kicked off a campaign by New York Communities for Change in rockstar fashion!

Cheered on by fellow Council Members and dozens of NYCC protesters, Williams stormed JP Morgan Chase’s Park Avenue branch. Protesting the bank's awful record on helping families who are facing foreclosure and haven't received assistance with their mortgages, Williams closed his Chase account.

Can you continue our fight against Chase and pitch in $17? That's just 1/1,000,000 of Jamie Dimon's bonus.

In the coming weeks, many other elected officials, clergy members and unions will follow suit, drawing attention to Chase’s terrible record on modifying mortgages of distressed homeowners in New York.

Council Members Williams, Melissa Mark-Viverito, Mathieu Eugene and James Sanders were the first on the scene, but this is only the beginning.

Just 6 percent of NY homeowners who sought help have received a permanent mortgage modification from JP Morgan Chase - the other 94 percent have been denied or are in limbo. 

That’s a shocking number when their CEO just received a $17 million bonus!
Please help us take this campaign to the next level by contributing $17 dollars.

It might seem like a small amount (just 1/1,000,000th of Jamie Dimon’s bonus!), but it will go a long way in helping us make sure that everyone who googles Chase will see the truth about their lending practices.