Banking News: Religious Leaders Plan 'Exodus' From Bank of America

Banks have been severely disappointing to the public in recent months. After taking billions of dollars in bail out funds, many of the largest banking institutions are still failing to make the loans and provide the mortgage relief that both the president and the public expected them to. One of the biggest culprits in this failure of reciprocating good will has been Bank of America.

We have already reported on Bank of America firing an employee for trying to treat loyal customers fairly, when fair treatment went against the banks customer-milking rules. Well, now Bank of America clients are fighting back. A group of religious institutions in particular has said enough is enough. The Huffington Post reports:

A network of religious community organizers is calling for its members to pull their money out of Bank of America after the bank failed to meet their demands during negotiations on Tuesday evening in Antioch, Calif.

"Just as Moses led the children of Israel out of Egypt, it is time to lead an exodus of our money from Bank of America," said Rev. Mario Howell, pastor of Antioch Church Family, according to a statement. "It is time to go to a bank which will serve us."

The faith-based divestment effort is separate but parallel to the "Move Your Money" campaign.

People Improving Communities through Organizing, a coalition with over 1,000 member congregations across the country, threatened to launch the divestment campaign if Bank of America officials did not agree to their demands, which included a 90-day moratorium on foreclosures. Other groups, including the SEIU and the NAACP, joined PICO at the negotiating table with bank officials.

"Bank of America had nothing -- no new ideas or proposals to offer to keep families in their homes and end the suffering in our communities," said PICO's Rev. Lucy Kolin, who led the negotiations, according to the statement. "We offered them a clear statement of the bottom line: Keep people in their homes. Do no harm. Put in place a moratorium so that Bank of America can get its act together and stop hurting our families and our communities. We went into this meeting willing to be hopeful, but we were disappointed."

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Black Spiritual Leaders

Influential Black Spiritual Leaders
People around the world look to pastors, preachers, bishops and reverends for spiritual guidance and inspirational nourishment. In the black community, popular clergymen such as Bishop T.D. Jakes, Prophetess Juanita Bynum and Rev. Al Sharpton are held in high esteem and have much influence over congregations and countless followers alike. Take a look at them and other influential black spiritual leaders.

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Black Spiritual Leaders

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Bishop T.D. Jakes, The Potter's House
AGE: 51 HOMETOWN: South Charleston, West Virginia ABOUT HIM: The entrepreneur and chief pastor of the The Potter's House, a 30,000 member non-denominational megachurch church in Dallas. FACTOID: Jakes, who was named among America's "Top 10 Religious Leaders" by 'Time' magazine, has recorded Grammy- and Dove Award-nominated music projects. He also produced the movies 'Woman Thou Art Loosed' and 'Not Easily Broken.'

Michael Loccisano, FilmMagic

Reverend Jeremiah Wright, Trinity United Church of Christ
AGE: 67 HOMETOWN: Philadelphia, Pennsylvania ABOUT HIM: For 36 years, Wright was the Senior Pastor of the Chicago megachurch -- which boasted around 8,500 members. Controversial remarks made during his sermon shed negative light on the popular church, and one of its most well known parishioners: Illinois Senator and U.S. presidential candidate Barack Obama. FACTOID: Named one of 'Ebony' magazine's top 15 preachers, Wright has received a Rockefeller Fellowship and seven honorary doctorate degrees, including from Colgate University, Lincoln University, Valparaiso University, United Theological Seminary and Chicago Theological Seminary.

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Juanita Bynum, televangelist
AGE: 49 HOMETOWN: Chicago, Illinois ABOUT HER: A former beautician, flight attendant and drug abuser, Bynum transformed herself into one of the most popular celebrity clergywomen after being introduced to the masses by Bishop T.D. Jakes. With a highly rated TBN show and a thriving television ministry, she gained national attention in 2007 when her estranged husband, Bishop Thomas Weeks, III, allegedly attacked her in a hotel parking lot. FACTOID: Bynum, a best-selling recording artist and author, has crossed over into entertainment. In 2008, she starred on episodes of the hit ABC Family network TV series 'Lincoln Heights' and will also appear in the big movie adaptation of the off-Broadway musical 'Mama I Want To Sing,' alongside Ciara, Lynn Whitfield and Patti LaBelle.

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Bishop Eddie L. Long, New Birth Missionary Baptist
HOMETOWN: North Carolina ABOUT HIM: He first served as pastor in 1987 for a congregation consisting of just more than 300 members. Now the Lithonia, Georgia-based megachurch's membership has totaled to over 30,000 members. FACTOID: Long has authored numerous books, including 'What a Man Wants, What a Woman Needs' and 'The Blessing in Giving.' The bishop is also featured on rapper Ludacris' latest album, 'Release Therapy,' and appeared on the hit Bravo reality show, 'Real Housewives of Atlanta.'

Johnny Nunez, Wire Image

Rev. Al Sharpton, National Action Network
AGE: 54 HOMETOWN: Brooklyn, New York ABOUT HIM: Mostly recognized as a staunch civil rights activist for people of color, the former James Brown tour manager is the founder the National Action Network, a nonprofit, civil rights organization with over 40 active chapters nationwide. FACTOID: A 2004 U.S. Presidential candidate, the divorced father of two daughters has written a memoir (with Karen Hunter) hosted his own TV show (on TV One) and nationally syndicated radio program.

Ragozzino William, Getty Images

Bishop Noel Jones, City of Refuge Church
AGE: 57 HOMETOWN: Spanish Town, Jamaica ABOUT HIM: In 1994, Bishop Jones founded Noel Jones Ministries (NJM), formerly known as Jesus Alternative Ministries, in an effort to address religion's inability to offer real relevance to the changing climate of the times. His Gardenia, California-based church boasts 7,000 members. FACTOID: One of seven children born to Bishop Robert and Marjorie Jones, Bishop Jones attended St. Jago High School and went on to attain a B.S. in Theology from Aenon Bible College. He is the younger brother of entertainer Grace Jones.

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Jamal Harrison Bryant, The Empowerment Temple
ABOUT HIM: Bryant founded Baltimore's Empowerment Temple in April 2000, which became the fastest growing church in the A.M.E. denomination with over 11,000 members. Prior to his role as pastor, he served as director of the NAACP's youth and college division. FACTOID: Despite dropping out of high school, Bryant later obtained a GED and went on to further his education, receiving a degree from Morehouse College, a masters of divinity from Duke University and doctorate in ministry. Today, his 'Power for Life' broadcast is heard weekly across the United States, the Caribbean, England and throughout the continent of Africa.

Reggie Anderson, Empowerment Temple

Pastor Cynthia Hale, Ray of Hope Christian Church
HOMETOWN: Roanoke, Virginia ABOUT HER: Hale is the founding and senior pastor of the Ray of Hope Christian Church in Decatur, Georgia, which has an active membership of 5,000 and an average of 1,500 in worship each Sunday morning. FACTOID: In 2004, Hale established a mentorship program to assist in the spiritual as well as practical development of pastors and church leaders. She has been recognized by Ebony magazine as one of the greatest black women preachers in America.

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Bishop Larry Trotter, Sweet Holy Spirit Church
HOMETOWN: Chicago, Illinois ABOUT HIM: Since 1981, Trotter has expanded his congregation at The Windy City's Sweet Holy Spirit Church from 22 members to over 5,000. FACTOID: In addition to his preaching ministry, Trotter is also an accomplished musician who was nominated for a Stellar Award in 2003 for his rendition of 'Jesus is the Best Thing that Ever Happened to Me.'

Douglas C. Pizac, AP

It's wonderful to see financial activism taking place through the organization of the church, exactly the way the original civil rights movement was founded. As we approach Martin Luther King's birthday and Black History Month, now is the time to review our history from an empowering perspective, drawing from the greats of our past to build a more positive future. I wonder what Dr. King would say today about a financial rights movement blooming from within the church. Can you see this type of financial political activity growing and spreading to churches across America?

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