Sound Alliance Turns Up Heat on Bank of America

Sound Alliance Turns Up Heat on Bank of America

Washington State Treasurer Jim McIntire, who has been working with Sound Alliance leaders in a foreclosure intervention effort, in a Feb. 7 letter to Bank of America CEO Brian Moynihan condemned the bank for its “unacceptable” and “token” response to the foreclosure crisis in Washington state.

“It is long past time for Bank of America to start providing homeowners in Washington the same quality of service that you provide to this office,” Treasurer McIntire stated in the letter.  “BofA has 229 branch offices around the state where the Bank is happy to sign up mortgage customers, but there is not one single place where distressed borrowers can go to FIX a mortgage,” McIntire wrote.

In a letter sent Feb. 9, Alliance leaders reiterated their demand that Bank of America establish a homeownership center in the Puget Sound.

The Alliance letter included a request that Bank of America meet with the Treasurer and Alliance leaders by Feb. 25 to develop a concrete plan to provide reliable, timely, meaningful assistance to Washington’s troubled homeowners.

This request comes in response to numerous stories shared by Alliance members describing the difficulties they face seeking assistance through the Bank’s current approach—diversion to call centers, where they often experience longs waits, multiple transfers, and inaccurate or misleading information.

The Sound Alliance Housing Team, which is leading the foreclosure intervention effort, will be gathering for a critical meeting this Monday, Feb. 14 at 6:30 p.m., to plan for the meeting with Bank of America executives and discuss additional strategies for getting Washington homeowners the assistance they need.

The meeting will be held at UA Local 32, 595 Monster Road S.W., #213, Renton, WA 98055. Sound Alliance members interested in engaging in campaign efforts are encouraged to attend.

For more information, email info@soundorganizing.org or call (206) 575-2252.