Community Organizers Fighting "Big Banks Swallowing Community Banks" Trend

AvengingAngel

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Saturday December 19, 2009 · 9:53 AM PST

2009/12/19 · 09:53

Yesterday, the FDIC seized seven more small banks and added them to the FDIC’s failed bank list which now numbers almost 140 bank seizures in 2009.

The 110th bank seized by the FDIC in 2009 is Park National Bank (PNB), which was seized on October 30, 2009, when the keys of this model community bank in Oak Park, IL, were handed over to US Bankcorp, a beneficiary of $6.6 billion in taxpayer bailout funds in 2008.

But something very different happened at PNB that is not happening anywhere else in the country: community organizers dug in to fight back. We are here to ask for Kossacks to join in our fight to wage a national campaign to stop the trend of "big bank swallows community bank." Please read below the fold and join our fight.

Specifically, we need your help to encourage House Financial Services Committee Chair, Congressman Barney Frank, to hold hearings on our disappearing community banks.

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