Corporate Accountability

Crossing the Corporate Moat – RW Fights Unfair Foreclosures

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By Responsible Wealth Intern, Adriana Hernandez

Since last fall, Responsible Wealth (RW) members and our allies have been working on a shareholder resolution and strategies to shed light on how banks and mortgage servicing institutions are handling foreclosures.

Through this work RW developed partnerships with, among others, New York’s Neighborhood Economic Development Advocacy Project (NEDAP) and the PICO National Network. Together, we drafted resolutions on foreclosure mitigation practices, and consolidated our resolutions into one that targeted the use of robo-signing throughout the foreclosure process.

Thanks to the support of RW members, this resolution was filed at Bank of America, JP Morgan Chase and Wells Fargo in November. Unfortunately, our resolution was beat out by less than 48 hours by similar resolutions filed by the AFL-CIO and the Comptroller of the City of New York. As a result, our resolutions were not on the ballots (as those that preceded were substantially similar), but that didn’t mean our fight was over.

Sunday's AP News Story & Responsible Wealth

— Brian Miller
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If you read Sunday's Associated Press (AP) story, "Super rich see federal taxes drop dramatically," you may be left with the false impression that United for a Fair Economy (UFE) is a network of wealthy individuals who support higher taxes on themselves. Well, that's close, but not exactly right. UFE is a cross-class organization with supporters of all financial means...

Congress Passes Financial Reform

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When the President signs the Financial Reform bill into law, it will be the biggest improvement to regulation of the financial industry in generations.

Financial Reform Conference Committee Excitement

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financial reform

Exciting things are happening in the financial reform committee, which is working to produce a finalized financial reform bill. Here's a run-down of the key points that will be debated and decided in the coming weeks.

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