#2734: Why NAFCU Launched 'Stop Big Bank Bullies' Ad Campaign...

nafcu_gregmesack.mp3
File Size:	7819 kb
File Type:	mp3

Download File

---

Full episode located below the show notes.

NAFCU ​Senior Vice President of Regulatory Affairs Greg Mesak stopped by the show to share the organization's big announcement about launching a national digital advertising campaign to educate Americans on how they can limit the influence that Big Wall Street banks have over their finances and the economy.

Greg discusses how the campaign, dubbed "Stop Big Bank Bullies," focuses on ways that banks take advantage of consumers to make a profit and urge consumers to join consumer-friendly credit unions.

NAFCU launched the ad campaign in response to the wrongful attacks banks and their trade associations have made against the credit union industry.

​In the “Stop Big Bank Bullies” campaign, NAFCU underscores the $243 billion in fines paid by Big Wall Street banks for the harm they’ve inflicted on consumers after violating numerous consumer laws. The campaign also highlights how these banks spend hundreds of billions in buying back shares of their own stock in order to line their own pockets.

Points worth highlighting within the campaign:

• big banks have been fined roughly $243 billion in the last 15 years;
• each of the top 3 banks (JPMorgan Chase, Bank of America, Citibank) earn more individually than the entire credit union industry;
• the 100 largest banks earn as much in one month as the entire credit union industry earns in just one year;
• banks have more than 10x the deposits of the entire credit union industry; and
• the 10 largest banks spend $100 billion buying back shares of their own stock in just one year

Check it out and let us know your thoughts. And be sure to watch the entire interview below for all the details.

---