A recent viral video created by the Huffington Post as part of their Move Your Money campaign has consumers reconsidering whether they should do business with large banks that received federal bailout money.
The video, which has been viewed almost a half a million times on YouTube, overlays headlines and news segments from the current financial crisis with clips from It's a Wonderful Life, a movie about a depression-era community banker who makes personal sacrifices to keep his town free of predatory business practices.
The message of the video and campaign is clear - if you don't like the practices of the large banks, take away your business from them.
At BankFox, we're glad to see that consumers are getting more discerning about where they bank. Although we don't think every large financial institution is evil or that every community bank is run by saints, we believe it's important for people to investigate the practices, policies, and health of their banks to decide whether the financial institution is worthy of their business.
To allow people to learn about small banks in their area, we recently added a feature to BankFox that lets consumers find healthy, local community banks near their city. Try out the new tool in order to find a local bank near you.
MoveYourMoney is a great organization. They're looking for donations to help spread the word:
http://moveyourmoney.info/archives/2240
Help them out if you can.
Posted by drew -- Apr 21, 2010 10:58 AM
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