Bank of America Prepared For OWS Anti-Foreclosure Actions, According to Memo


This internal memo from Bank of America to third-party contractors has been circulating around the Internet:

It’s regarding yesterday’s Occupy Our Homes action, in which protesters reclaimed foreclosed properties. The memo, which actually does appear to be real, includes tips like “Your safety is our primary concern, so do not engage with the protesters” and “While in neighborhoods, please take notice of vacant BAC Field Services managed homes and ensure they are secured.”

The SF Bay Guardian thinks this means BofA took yesterday “very seriously,” but all it really shows is that the company was aware of the implications of what was going on — and that’s interesting enough on its own. To see a big bank directly address an OWS action is unusual.

SFBG got a quote from a BofA rep, who told them:

As a matter of normal course of business, when we are alerted to activities that may affect our real estate owned properties, we inform our third party contractors. This is standard operating procedure. The safety of our associates and third party contractors is our first priority. It is the bank’s policy to protect and secure our properties for the investors who own them. Bank of America is committed to helping our customers with home retention solutions and other foreclosure avoidance programs. Foreclosure is always our last resort.