Protests outside Brooklyn Chase Bank

April 16, 2011 3:54:24 PM PDT
Some Brooklyn residents are making a statement against Chase Bank with their personal finances.

A group of community members and law makers closed their bank accounts at the Brownsville branch of JP Morgan Chase Bank on Saturday.

They are protesting what they say are predatory lending practices.

They say the bank only grants mortgage modifications to 6% of the New York City customers who request them, leading to more foreclosures.

"We believe that it's important that the taxpayers money should not be used to save the banks and the banks use those moneys to remove taxpayers from their homes," said State Senator Eric Adams; D, NY.

JP Morgan Chase did not return our calls for a comment.