Tag Archives: Peoples Bank

Goldman Bullies Teeny Credit Union that #OccupyWallStreet Uses

By Yves Smith
Naked Capitalism

I suppose there is no point in being part of the 1% unless you can throw your weight around.

Greg Palast writes in the Guardian of how Goldman took a wee bit of revenge on Occupy Wall Street via the itty bitty credit union ($30 million in assets) that OWS chose for its bank account, Peoples Bank. Peoples has “a unique Federal charter”. It focuses on low income customers, meaning families with less than $38,000 in income (to get to how far that goes in the rest of the US ex maybe San Francisco, reduce that amount by at least 30%).

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