OCCUPY WALL STREET

[SoNotHer]

http://sumofus.org/campaigns/bofa/

"Dear Mr. Moynihan - I was disappointed to learn about Bank of America's sudden recall of credit lines for many of its small business customers. These small businesses are vital to our economy, and are particularly vulnerable at a time when our country is still coming out of the recession. Please take a stand for entrepreneurs and don't force these businesses into refinancing at punishing rates. Thank you."

Bank of America is squeezing the most vulnerable businesses in our economy, our small businesses that employ millions of Americans, by recalling, with no prior notice, the long-term loans they need to survive. The alternatives Bank of America offers are stark: if these mom and pop operations cannot repay their loans immediately, they face either bankruptcy or refinancing at punishingly high interest rates. This money grab by BoA is guaranteed to have two results: line Bank of America’s pockets with more cash, and force the surviving small businesses into even thinner profit margins and even more layoffs.

This is utterly unacceptable from a company that would not even exist today if it hadn’t been bailed out itself with our tax dollars. More than ever, we need our small businesses, and this is the wrong action at the wrong time. Tell Bank of America President Brian Moynihan to stop putting the squeeze on small business.