by Kiri Vadivelu
On July 13, 2021 Socialist Action members joined in solidarity with 40 ACORN activists to protest the policies of the big banks. The Toronto action was part of a cross-country set of rallies to demand lowering NSF (Not Sufficient Funds) penalties from $45 to $10, waiving the minimum bank balance of $4000 to end discriminatory fees and stopping the financing of predatory lenders like EasyFinancial. In the heart of downtown Toronto, the march for fair banking touched major financial institutions in the Bay and King street zone.
Protesters with signs occupied space inside Scotia Bank for about 15 minutes to share the message, and then occupied the front entrance of other banks, since entry doors were locked. A leading spokesperson of Indigenous people, as well as Toronto Centre NDP MPP Suze Morrison, addressed the gathering.
On the same platform, SA member Kiri Vadivelu spoke on the megaphone about his personal experience with banking, as well as what needs to be done to protect vulnerable people from corporate exploitation. Campaign for nationalization of the big banks under a worker’s government was the message, loud and clear. After the speak-out, protesters occupied the Bay and King intersection, displaying banners and signs. Some 15 police watched the live event from the sidewalk.
City TV news provided national coverage of the story, which can be seen on ACORN’s site. https://acorncanada.org/acorn-members-take-big-banks-demand-bank-fees-back