Bank Account Closures

Why are citizens being arrested for mass closures of personal bank accounts? Is it even legal? Well, according to this article on the Wall Street Journal website, customers coming in to close their accounts were asked to leave and were later accused of trespassing. Really?

It's obvious that the activity in response to the call on OccupyWallSt.org to close bank accounts with the major banks. It's a very simple suggestion: close your major bank account and open one with a credit union. I've also heard it suggested that people use local banks as well. Personally, I'm for this, especially those who participate in outsourcing jobs and accepting government bailouts and tax breaks.

The banks clearly see this as a threat if they're taking such a strong stance and going this far. Of course, finding out that the banks are requesting police support isn't doing much to endear me to their plight. I would hope the average consumer would sit up and take notice as well. Do you want to support a company that treats its customers like this? Do you want to support a company that's contributing to the decline in America's economic status? Do you want to support a company that has such little respect for the rights of people to chose what business they support?

Personally, I think hitting the banks first is the best approach, as long as we're careful with how we do it. Going in and closing accounts should be safe and clear-cut. It's far easier and possibly easier than massive boycotts. Financing a loan for a home with a local credit union rather than some bank that's contributed to job loss, faulty lending policies (resulting in mass foreclosures), and using its money to control government policies is, in my opinion, better for local economies and will send a message to those companies that there is an alternative and we don't want to support them anymore.