ASUC approves bill to close Bank of America accounts

http://www.dailycal.org/2012/07/25/asuc-approves-bill-to-close-bank-of-america-accounts/

In a nearly unanimous vote, the ASUC Senate has voted to close out all existing accounts at Bank of America and move those accounts to Union Bank.

The bill states that all accounts the ASUC had with Bank of America be moved to Union Bank, citing reasons such as Bank of America’s “failed investment practices” and lack of community investment. Moving the accounts to Union Bank is intended to show support for a bank which “has shown outstanding reinvestment into Alameda County” and “a commitment to social justice and environmental sustainability,” according to the bill.

The bill was authored by outgoing CalSERVE Senator Andrew Albright and sponsored by Albright, outgoing Student Action Senator Tiffany Chia and incoming Executive Vice President Justin Sayarath.