Responsible Banking in LA – Call to Action

During Thanksgiving as we show gratitude for our meal and all of our blessings, let us be mindful of the millions of Americans who have been victimized by predatory sales goals practices by the banks. We have a chance for a big win in LA that will protect working people against the effects of aggressive and unrealistic sales goals on November 27th. Join us in sending a message to the LA City Council, that LA doesn’t want the use of predatory sales goals in the banks that have a contract with the City.

Bank workers have joined together as part of CWA’s Committee for Better Banks. They are working with consumers and community members to fight back against policies that force them to choose between helping customers and keeping their jobs.

On November 6th Councilmember Nury Martinez sent a letter  to the Budget and Finance Committee asking that both items be delayed until they incorporate language that will address predatory sales goals in the RBO and banking service RFP. You can read the letter here.

Wells Fargo and other big banks aren’t happy about our effort to stop the use of predatory sales goals. They don’t want to give up the huge profits they earn from these tactics. Their lobbyists are pulling out all the stops to pressure the Council to weaken the amendments.

If you agree that workers shouldn’t have to choose between pushing debt on the residents of Los Angeles and being disciplined or fired, click here to let LA elected officials know.

Every day, bank employees are forced to sell a certain number of credit cards, loans, bank accounts, and other financial products in order to prevent being disciplined or fired. This is what led to the opening of 3.5 million fake accounts at Wells Fargo. Banks also use sales goals to pressure bank workers to target the most vulnerable in our community just to meet their quota, with a focus on immigrants and low-income customers in our communities.

Now is the time to demand new standards for responsible banking and protections against predatory sales goals. We need our elected officials to step up to protect Angelenos against predatory banking practices.

It’s no wonder the big banks are fighting so hard against these changes. They’re afraid that if we succeed in LA, we’ll take the fight to other cities and maybe even win statewide or national protections.

You know what? They are right.

We can stop Wells Fargo and the big banks from weakening the bill if elected officials in LA know that working people are standing together to hold them accountable.

Contact elected officials in LA today to ask whose side the City is on. Wells Fargo and other big banks? Or frontline workers and the residents of Los Angeles who are on the receiving end of these predatory sales goals? Click here to deliver a message to the LA City Council.