Lenders lent Lenten lesson

by BN21 Mar 2012

The Lenten Season is a time for self-denial. Whether it be laying off the grog, cutting down on fatty foods or vowing not to get angry at something Wayne Swan has said or done, Insider is certain his friends in the mortgage broking industry have taken advantage of the season of penitence and reflection. Insider spent his Lent trying to avoid making fun of Australian banks, with mixed results. At any rate, one church in the U.S. went the extra mile with Lent, and not only devoted themselves to self-denial, but decided to deny Bank of America of some deposit funding. The Hollywood Adventist Church in Los Angeles withdrew hundreds of thousands of dollars of church funds from its BoA account and moved it to a community-based bank in protest of the mass foreclosures perpetrated by the lender. Other churches followed suit, with a group of San Francisco clergy members dumping ashes in front of a Wells Fargo ATM on Ash Wednesday to protest the bank’s treatment of homeowners.