Community members protest at OneWest Bank HQ's after a FOIA request revealed the bank has received $1 billion from the FDIC, with another $1.4 billion expected to be paid before 2019.
Dear Mr. Soros: It’s the holiday season, and people traditionally celebrate this time of the year by relaxing with their families. However, for some seniors, this holiday season will be spent worrying about whether or not their bank (a bank that you are a major investor in) will try to foreclose on them, and we think you can help stop that. You and a group of other wealthy investors purchased the failed IndyMac Bank in 2009, renaming it OneWest Bank. I’m sure none of you intended to play a role in foreclosing on seniors during the Christmas season. And yet, that’s exactly what OneWest Bank has been trying to do.
We want to bring this to your attention because these practices are in stark contrast to the many progressive causes you’ve funded in the past, (including a grant five years ago to our organization for foreclosure prevention research and policy work). We think this type of behavior is especially repugnant considering that OneWest’s leadership is also asking bank regulators to allow it to merge with CIT Group, creating a much larger bank.
It's possible you and your fellow investors are not aware of these practices, so we outline how they have affected three seniors below.
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