Modal close

Hi there,

You turn to Democracy Now! for ad-free news you can trust. Maybe you come for our daily headlines. Maybe you come for in-depth stories that expose government and corporate abuses of power. This week Democracy Now! is celebrating our 23rd birthday. For over two decades, we've produced our daily news hour without ads, government funding or corporate underwriting. How is this possible? Only with your support. Right now, in honor of Democracy Now!'s birthday, every donation we receive will be doubled by a generous supporter. This means if you give $30 today, Democracy Now! will get $60 to support our daily news hour. Please do your part. It takes just a couple of minutes to make sure that Democracy Now! is there for you and everybody else. Thank you! -Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.


Racial Justice and Environmental Activists Join Forces to Protest a Citigroup Shareholdersmeeting

Default content image
Media Options

Racial justice and environmental activists yesterday demonstrated outside Citigroup’s shareholders meeting,concluding a week of protests in some 80 cities worldwide and announcing the launch of an international Citi creditcard boycott.

The activists brought to light a number of issues. Rainforest Action Network spoke out against the banking giant’sprojects which affect the environment and indigenous people in the global south. And Inner City on the Move, a SouthBronx organization, accused Citigroup of red-lining and “predatory lending” in low-income communities of color foryears.

According to government regulators, predatory lending consists of several practices, including making high-cost loansthat borrowers can’t afford to pay back so the lender can seize the borrower’s house, inducing a borrower torefinance a loan repeatedly to charge higher fees, or deceiving borrowers about the true costs and terms of theirloans. The Federal Trade Commission, in what is billed as the agency’s biggest predatory-lending action, last monthcharged that one of Citigroup’s affiliates trained its brokers to lie about loan terms and packed loans withhigh-priced credit insurance. Government officials are seeking hundreds of millions of dollars for consumers.

Citigroup has a long and complicated history, dating back to the early 19th century. In one of its most significanttransformations, Citicorp merged with the insurance company Travelers in April 1998 to create the world’s largestfinancial services conglomerate. The merger created a banking giant with a 100 million customers in 100 countrieswith $700 billion in assets, comparable to the net assets of a medium-sized country such as Argentina.


  • Ilyse Hogue, Director of the Campaign for Sane Economy.
  • Matthew Lee, Executive Director of Inner City Press, Community on the Move.

Related links:

Related Story

Video squareStoryMay 20, 2015Sgt. James Brown, 26, Survived Two Tours in Iraq Only to Die Begging for His Life in Texas Jail
The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Up arrowTop