Bank of America Cuts Off All Money to ACORN and ACORN Housing
Posted on | September 28, 2009 | No Comments
Bank of America has cut off all money to ACORN and ACORN housing corporation. On Monday, Bank of America announced that they will suspend all current commitments to ACORN housing which is an affiliate of the Association of Community Organizations for Reform Now (ACORN). The banking giant “will not enter into any further agreements with ACORN or any of its affiliates,” ACORN housing has worked with Bank of America and other financial corporations in preventing foreclosure.
Earlier in September, both house of Congress passed legislation that cut off all federal money to ACORN. This happened shortly after activists filmed ACORN employees giving tax and housing advice to a couple posing as a “pimp and prostitute” who wanted to open a brothel. “Bank of America takes recent allegations made against ACORN and ACORN Housing Corporation employees very seriously,” the bank is quoted as stating.
“We’re not surprised that our lending partners like Bank of America want assurances that this won’t happen again,” stated Michael Shea, executive director of Acorn Housing. This is not a surprise at all as ACORN is being investigated for many practices that are unacceptable and unethical.
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Author: Jesse Wojdylo
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