SEIU Helps Bank Workers Become Whistleblowers

[Omaha Steve]

http://www.inthesetimes.com/working/entry/6451/seiu_uses_new_financial_reform_laws_to_organize_bank_workers/?utm_source=twitterfeed&utm_medium=twitter

Thursday September 16 2:13 pm

By Mike Elk

Union's new campaign part of larger effort to unionize banks

One of the best kept secrets of the financial reform bill passed in July is tough whistleblower laws to protect bank workers who expose shady lending, credit card and fee practices. But do U.S. bank workers actually know about the new protections? A new Service Employees union campaign aims to make sure they do.

SEIU is launching a campaign encouraging bank customers to do two things when at the bank, says SEIU Financial Director Stephen Lerner. "One: do your normal banking. And then two, inform bank workers of their rights under the new whistleblower laws." The union is encouraging its members, community allies, and activists to print up these whistleblower fliers and give them to tellers and personal bankers anytime they're banking.

The fliers—which begins "YOU Can Stop the Next Global Financial Meltdown"—informs workers of the new laws protecting whisteblowers under the new financial regulation bill. Smart lobbying by SEIU and a number of other groups led to the inclusion of tough new whistleblower laws allowing workers to expose shady practices, such as making customers receive high-interest loans when they qualify for cheaper loans. (According to Ellen Harnick of the Center for Responsible Lending, "in 2006, 6 out of 10 subprime borrowers in 2006 qualified for a cheaper fixed rate loan." Workers had a direct incentive to provide such bad financial products)

"It's important that every bank employee knows they are on the front lines for the new Consumer Financial Protection Bureau" Lerner says.

FULL story at link.

[county worker]

1. My union! I wished more of us could join unions.

The trouble is that the right will say we are terrorists or something.