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Bank of America is ACORN ‘Partner’ and Major Funder
NLPC ^ | September 21, 2009 | Peter Flaherty

Posted on 09/21/2009 10:04:59 AM PDT by jazusamo

ACORN/BoA

Bank of America has received $45 billion in taxpayer TARP funds, and has slashed its dividend to a penny. Yet it is one of ACORN and its affiliates' biggest funders.

Our review of annual tax returns for the Bank of America Charitable Foundation, Inc. for the last three years (2006, 2007, 2008) found more than $3.6 million in grants to ACORN and its affiliates. Those grants include a grant of $2 million to ACORN Housing, Inc. last year, and direct grants to ACORN Housing, Inc. offices in Baltimore, Maryland and San Bernardino, California, the locations of undercover video stings.

On its website, ACORN Housing, Inc. describes its relationship with Bank of America as a “partnership.” The Bank of America website lists no less than 26 ACORN offices where:

Bank of America works with Association of Community Organizations for Reform Now (ACORN) Housing to provide special mortgage products to potential homeowners in NAME OF CITY.

Unlike many public companies, Bank of America Corporation does not disclose individual grants it makes to nonprofit groups. We do not know what direct funding Bank of America Corporation provides to ACORN and/or its affiliates. It is obvious, however, that ACORN and/or its affiliates market and/or administer loan programs for the bank.

Although legally a separate entity, Bank of America Charitable Foundation, Inc. is controlled by Bank of America Corporation. Its 30-member board of directors is comprised of Bank of America Corporation executives or employees of the foundation itself. Its sole source of revenue in 2008 was a donation of $167 million from Bank of America Corporation.

Today, I wrote Bank of America CEO & President Ken Lewis:

National Legal and Policy Center, a Bank of America Corporation shareholder, asks that Bank of America Corporation and the Bank of America Charitable Foundation, Inc. end funding of, and sever all relationships with, the Association of Community Organizations for Reform Now (ACORN), ACORN Housing, Inc., and ACORN’s many affiliates, which may number as many as 360 organizations.

On the “Corporate Governance” page of the Bank of America website, Lewis states:

At Bank of America, we are committed to upholding the highest standards of corporate governance and ethical conduct in all we do.

Last week, the United States Senate voted 83-7, and the House of Representatives voted 345-75 to stop taxpayer funds from going to ACORN. Congressional action will be circumvented, however, if Bank of America Corporation and Bank of America Charitable Foundation, Inc. continue to fund ACORN and its affiliates.

My letter to Lewis concludes:

Taxpayers, shareholders, customers, employees and business partners demand that you end your partnership with ACORN and its affiliates without delay.



TOPICS: Business/Economy; Crime/Corruption; Culture/Society; News/Current Events
KEYWORDS: acorn; bankofamerica; bofa
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1 posted on 09/21/2009 10:04:59 AM PDT by jazusamo
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To: jazusamo

isnt this conflict of interest


2 posted on 09/21/2009 10:10:15 AM PDT by dalebert
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To: Mrs. B.S. Roberts

Business as usual?


3 posted on 09/21/2009 10:11:09 AM PDT by Bloody Sam Roberts (An armed man is a citizen. An unarmed man is a subject.)
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To: jazusamo
Try this to let them know your thoughts:

https://www4.bankofamerica.com/search/Search.do?questionbox=acorn&locale=en_US

4 posted on 09/21/2009 10:12:20 AM PDT by HereInTheHeartland (Just say no to Soylent Green health care)
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To: jazusamo

I want to know where is the FBI and the cops on this? Why isn’t ANYONE in any way connected with a blatant fraudulent organization like ACORN being jailed. I have yet to hear of ONE arrest. Where are they... I WANT TO KNOW.


5 posted on 09/21/2009 10:13:50 AM PDT by BigFinn (Isa 32:8 But the liberal deviseth liberal things; and by liberal things shall he stand.)
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To: jazusamo
Bank of America is ACORN ‘Partner’ and Major Funder. Blackmail Victim.
6 posted on 09/21/2009 10:13:51 AM PDT by OSHA (I want to meet the man that put the cat IN the bag.)
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To: jazusamo

.THIS READS LIKE A WHO’S WHO’S IN THE WORLD OF TAXPAYER FUNDED LEFTIE GROUPS.

HOPE NOW
Making Home Affordable
Helping homeowners
Community partners Community partnersOur community partners are another helpful resource for potential homebuyers. Explore your options below and see how you could get help through counseling, education, and other types of support.

ACORN Housing Corporation (AHC)
AHC provides one-on-one mortgage loan counseling, first-time homebuyer classes, and helps clients obtain affordable mortgages through unique lending partnerships.
http://www.acornhousing.org

Center for Community Self-Help (Self-Help)
This organization and its financing affiliates Self-Help Credit Union and Self-Help Ventures Fund provide financing, technical support, and advocacy for those left out of the economic mainstream.
http://www.self-help.org

Center for Responsible Lending
This nonprofit, nonpartisan research and policy affiliate of Self-Help is dedicated to eliminating abusive financial practices. Self-Help is one of the nation’s largest community development financial institutions.
http://www.responsiblelending.org

Consumer Credit Counseling of Atlanta
This full-service, nonprofit, financial counseling agency provides counseling 24 hours a day in all 50 states over the telephone and Internet in both English and Spanish.
http://www.cccsatl.org

National Coalition of Asian Pacific American Community Development
Members use innovative affordable housing, community development, organizing, and planning strategies to improve the wellbeing of Asian American/Pacific Islander communities and members.
http://www.nationalcapacd.org

National Council of La Raza (NCLR)
La Raza is a private, nonprofit, and non-partisan organization focused on reducing poverty and discrimination, and improving opportunities for Hispanic Americans.
http://www.nclr.org

National Foundation for Credit Counseling
A membership association of more than 100 nonprofit, community-based agencies that provide credit counseling at more than 900 local offices across the country.
http://www.nfcc.org

National Urban League (NUL)
The Urban League works to promote economic self-reliance, parity, power, and civil rights for African Americans through education and empowerment. They are also a member of the Alliance for Stabilizing our Communities.
http://www.nul.org

Neighborhood Assistance Corp of America (NACA)
NACA is a nonprofit community advocacy and HUD-certified counseling agency, which provides affordable mortgage solutions and works to fight predatory lending.
http://www.naca.com

Operation HOPE, Inc.
A nonprofit, public benefit organization that works to create public/private partnerships, strategic alliances, economic tools and services, and other programs to economically empower low-income and minority people.
http://www.operationhope.org
Contact UsBank of America Home Loans Customer Service


7 posted on 09/21/2009 10:13:54 AM PDT by Marty62 (former Marty60)
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To: jazusamo

Link doesn’t work for me.


8 posted on 09/21/2009 10:14:14 AM PDT by jennyjenny
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To: dalebert

It would seem so but I guess they get away with it because of the Charitable Foundation.


9 posted on 09/21/2009 10:14:40 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo
Also just an FYI, the nations largest mortgage lender; who is Bank of America’s competitior; does NOT fund ACORN.
10 posted on 09/21/2009 10:14:46 AM PDT by HereInTheHeartland (Just say no to Soylent Green health care)
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To: BigFinn
I want to know where is the FBI and the cops on this?

Can you say Eric Holder?

11 posted on 09/21/2009 10:15:40 AM PDT by Maceman
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To: jazusamo

The ACORN story gets more disgusting with each new revelation. The NEA (teachers’ union) also contributes to ACORN. WHY???? They must want to insure the election of leftists who will keep their odious agenda alive in our public schools.


12 posted on 09/21/2009 10:15:42 AM PDT by Faith
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To: jennyjenny; All

Just tried it and it doesn’t work for me either, try this.

http://www.nlpc.org/


13 posted on 09/21/2009 10:17:02 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

I wouldn’t blame BofA here. When did the CRA come out? 1979. That bill put a gun to bankers heads and said, “You’ll loan money to people who can’t pay you back, or you are going to court, and you’re going to lose.”

BofA comes back and says, “At least let us roll this crap into bonds and sell it.”

Government: “Whatever.”

BofA: “Thanks!”

The rest is history. To keep things quiet, Democrats ask BofA to keep ACORN afloat and come up with this. Doesn’t surprise me in the least.

You hear anything in the State-Run Media about how evil Wal-Mart is? Funny how that stopped when they got behind Obamacare.


14 posted on 09/21/2009 10:17:16 AM PDT by RinaseaofDs
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To: HereInTheHeartland

Thanks for the link.


15 posted on 09/21/2009 10:17:53 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: RinaseaofDs
Wallys is a big contributor to La Raza, a leftist anti-gringo .org~
16 posted on 09/21/2009 10:19:41 AM PDT by investigateworld (Abortion stops a beating heart)
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To: jazusamo

acorn is charity??? ha


17 posted on 09/21/2009 10:22:00 AM PDT by dalebert
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To: jazusamo

That worked. Thanks


18 posted on 09/21/2009 10:23:20 AM PDT by jennyjenny
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To: dalebert

No, I was referring to the Bank of America Charitable Foundation, Inc.


19 posted on 09/21/2009 10:24:27 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo
What a neat little circle of scammers.

Acorn, instituted by radical leftist groups, install their point man into the highest office >Acorn pressures a compliant bank to operate under their guidelines>BoA funds Acorn>Acorn funds multiple fraudulent operations>BoA goes bankrupt>BoA receives government tarp funds>Acorn receives funding from BoA> etc.

20 posted on 09/21/2009 10:25:54 AM PDT by BigFinn (Isa 32:8 But the liberal deviseth liberal things; and by liberal things shall he stand.)
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To: jazusamo
Can you post the address you used to write President Lewis?

Bank of America is my bank......for the time being.

Leni

21 posted on 09/21/2009 10:26:04 AM PDT by MinuteGal ( Americans ! FLIP THIS HOUSE ! (( Congress in 2010 ! ))
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To: MinuteGal

Sorry, that was Peter Flaherty who wrote the article that wrote B of A. I wish he would have listed it.


22 posted on 09/21/2009 10:32:59 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

They are paying protection money, buying peace. Yes, they should stop but understand why they had to do it.


23 posted on 09/21/2009 10:33:54 AM PDT by NonValueAdded ("The President has borrowed more money to spend to less effect than anybody on the planet. " Steyn)
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To: Admin Moderator

Thank you very much.


24 posted on 09/21/2009 10:34:10 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

me too...if acorn is declared no charitable can the bank still get away with huge donations?


25 posted on 09/21/2009 10:34:34 AM PDT by dalebert
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To: Bloody Sam Roberts

“Bank of Amigos”...


26 posted on 09/21/2009 10:34:34 AM PDT by WOBBLY BOB (ACORN:American Corruption for Obama Right Now)
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To: jazusamo
Bank of America works with Association of Community Organizations for Reform Now (ACORN) Housing to provide special mortgage products to potential homeowners in NAME OF CITY.

Bank of America? How "special" ? Child sex slaves "special" - twisted tax information "special" how "special"?

27 posted on 09/21/2009 10:35:43 AM PDT by GOPJ (When I hear "New York Times"-fair or unfair-what I hear is "New York Times Whore House"...)
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To: jazusamo

CRIMNALS FLOCK TOGETHER.


28 posted on 09/21/2009 10:36:45 AM PDT by Ann Archy (Abortion....the Human Sacrifice to the god of Convenience.)
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To: jazusamo

Seems like the referenced websites better be cached/saved soon, before they disappear.


29 posted on 09/21/2009 10:37:32 AM PDT by fightinJAG (Mr. President: Why did you appoint a Communist to your Administration?)
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To: StarFan; Dutchy; alisasny; BobFromNJ; BUNNY2003; Cacique; Clemenza; Coleus; cyborg; DKNY; ...
https://www4.bankofamerica.com/search/Search.do?questionbox=acorn&locale=en_US
30 posted on 09/21/2009 10:39:54 AM PDT by nutmeg (Obamunism is destroying America)
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To: jazusamo

I’m so glad I cancelled all my accounts with them a few months back.


31 posted on 09/21/2009 10:44:44 AM PDT by coconut47
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To: HereInTheHeartland
Also just an FYI, the nations largest mortgage lender; who is Bank of America’s competitior; does NOT fund ACORN.

If you are talking about Wells Fargo, you are not exactly correct. Wells has not directly given ACORN the kind of money Bank of America has or promoted it. But in 2007 Wells adopted a set of "responsible lending principles" (link here) for its mortgage operations as a direct result of threats and constant protests by ACORN, and it did join ACORN's "advisory council" which is a shakedown operation to get $100,000+ in grants from lenders in return for it not protesting at the lenders' offices.

32 posted on 09/21/2009 10:45:50 AM PDT by Dems_R_Losers (U.S. Out of My Doctor's Office!!)
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To: OSHA

Exactly. ACORN shook down all the banks for years—and with the muscle of our government behind them. Poor Jesse Jackson and Al Sharpton are pikers compared to the ACORN gang.


33 posted on 09/21/2009 10:45:57 AM PDT by 9YearLurker
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To: nutmeg

Thanks for the ping!


34 posted on 09/21/2009 10:47:21 AM PDT by Alamo-Girl
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To: dalebert
isnt this conflict of interest

It was a shakedown.

35 posted on 09/21/2009 10:48:31 AM PDT by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: nutmeg

Gee no suprise there eh


36 posted on 09/21/2009 10:50:29 AM PDT by SevenofNine ("We are Freepers, all your media belong to us, resistence is futile")
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To: Dems_R_Losers
If you type in ACORN in their search box; you come up with this:

https://www.wellsfargo.com/press/ActivistResponse,

That's not very ACORN friendly

37 posted on 09/21/2009 10:53:56 AM PDT by HereInTheHeartland (Just say no to Soylent Green health care)
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To: fightinJAG

I don’t know how to do that kind of thing but i did copy and paste top two link contents to a file.


38 posted on 09/21/2009 10:54:54 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

Most corrupt administration in history.


39 posted on 09/21/2009 10:56:13 AM PDT by BJClinton (Any "healthcare reform" without tort reform is a fraud.)
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To: jazusamo

Yaaa....and we ALL are wondering why these banksters haven’t yet received the Jeff Skilling/Ken Ley treatment the Bush administration handed out so quickly.


40 posted on 09/21/2009 11:08:47 AM PDT by mo
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To: jazusamo

That does it. I’m closing my fr3@king account.


41 posted on 09/21/2009 11:15:10 AM PDT by Antoninus ("There is no movement," --G. W. Bush)
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To: jazusamo; FlingWingFlyer; altair; stephenjohnbanker; youturn; little jeremiah; ~Kim4VRWC's~; ...
ACORN Ping!

FReep mail me if you want on/off the list.


42 posted on 09/21/2009 11:16:25 AM PDT by Jet Jaguar (A mob of one.)
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To: dalebert
isnt this conflict of interestisnt this conflict of interest

No. It's extortion in the same manner as practiced by Jesse Jackson and perfected by ACORN. In a nutshell: Give us money and we won't sue you for racial discrimination in your loaning practices.

43 posted on 09/21/2009 11:23:14 AM PDT by InterceptPoint
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To: jazusamo
Bush administration too!
..all complicit!
44 posted on 09/21/2009 11:24:52 AM PDT by Guenevere
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To: Faith

“The ACORN story gets more disgusting with each new revelation. The NEA (teachers’ union) also contributes to ACORN. WHY???? They must want to insure the election of leftists who will keep their odious agenda alive in our public schools.”

Exactly.


45 posted on 09/21/2009 11:31:04 AM PDT by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: Guenevere

Bush isn’t getting a free ride on this either.


46 posted on 09/21/2009 11:32:14 AM PDT by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: jazusamo

Grants? So BOA funneled the bailout money to ACORN?


47 posted on 09/21/2009 11:33:02 AM PDT by MaxMax (Um, Ah, hmm, um, er, ah, achoo, er, um, sneeze, er, BUSH'S FAULT)
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To: jazusamo

Huge shadow government! Wake up people.


48 posted on 09/21/2009 11:33:53 AM PDT by mojitojoe (Socialism is just the last “feel good” step on the path to Communism and its slavery. Lenin)
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To: InterceptPoint

right...extortion is a better word


49 posted on 09/21/2009 11:48:48 AM PDT by dalebert
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To: jazusamo

Citibank is a big supporter of ACORN also


50 posted on 09/21/2009 12:01:12 PM PDT by cowtowney
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