Banks Targeted in Divestment Campaign and by Faith-Based Shareholder Activism
April 29th, 2012
Churches and faith-based shareholders alike have been taking action against big banks that have failed to respond to the plight of homeowners and others seriously affected by the financial crisis. The Missionary Oblates have been actively engaging the big banks and financial institutions in an effort to deal with some of the underlying problems that have caused so much pain to so many.
Recently, members of the Interfaith Center on Corporate Responsibility (ICCR) facilitated the participation of VOICE (Virginians Organized for Interfaith Community Engagement) in the Detroit AGM of GE Capital. VOICE is a faith-based community organization representing people who have lost their homes or whose houses are threatened by the on-going foreclosure crisis. GE Capital holds some of these mortgages and has been resistant to negotiation of the mortgage terms.