In case anyone was wondering, Bank of America has confirmed that the "Occupy Our Homes" movement is having an impact on the foreclosure industry.
The bank, of course, didn't mean to do this publicly.
Instead, they meant to discuss the occupations privately through an internal memo - which was obtained and posted publicly by the website Zerohedge. It was posted Dec. 6, the same day that a nationwide day of action against foreclosures was taking place. It was just that day and set of actions that the banking behemoth was worried about.
"There is a potential nationwide protest planned that could impact our industry," read the memo, sent by BAC Field Services Corporation, a division of Bank of America. "We believe protests will likely take place [Dec. 6] at auction sites, homes that are being foreclosed, homes in the eviction stage and vacant homes. We need to be prepared."
"The email is significant because it confirms occupy is seen within the industry as a real threat," said Occupy for Accountability.
BAC Field Service Providers, to whom the memo was addressed, advised bank representatives: "While in neighborhoods, please take notice of vacant BAC Field Services managed homes and ensure they are secured."
The bank's field service division seemed to think that the demonstrators were going to be violent, writing, "Your safety is our primary concern, so do not engage with the protesters."
Negative media attention also worried the authors of the memo: "Remind all parties of the bank's media policy and report any media incidents" to the proper people.
An anonymous occupier suggested that the bank knew there would be no violence, but was worried instead about what its representatives might say while on camera. "These (people who carry out evictions) are not the nicest people in the world," she said. "Imagine how worried the bank would be about what its people would say to the Occupy movement when the press are around."
Fears by protesters that they are being watched are also not unfounded. According to the memo, "The website, occupyourhomes.org, has a story posted of a bank customer that we are researching. The web site has an event finder that can help identify upcoming protests. You can find additional information at the following link." The link was the call to action for the day of action.
Perhaps the banks are right to worry. It seems that the movement has, in some cases, forced their hands.
Dec. 19, for example, it was announced that Brigitte, a former Army staff sergeant and decorated Iraq war veteran would have her loan modified - because of ongoing lobbying and public demonstrations by Occupy Our Homes.
"After two press conferences on her lawn, a national call-in day, and direct action on Chase Bank, Occupy Atlanta did what Brigitte Walker couldn't do in years, get a loan modification," according to the movement's website. "If it weren't for Occupy Atlanta and Brigitte Walker's willingness to resist Chase Bank she would have had her American dream auctioned off on the Fulton County court house steps. Instead Brigitte Walker and her family can breathe easy knowing they can continue to live the American dream of home ownership."
Chase had been planning to sell Walker's home next month, whether she had left it or not. She had been making routine payments on her mortgage until 2007, when her income was cut in half after being medically retired from the Army. She had been wounded in combat.
