Modal close

Hi there,

You turn to Democracy Now! for ad-free daily news you can trust. Maybe you come for our daily headlines, or our in-depth stories that expose corporate and government abuses of power. You need news that isn't being paid for by campaigns or corporations. We produce our daily news hour at a fraction of the budget of a commercial news operation—all without ads, government funding or corporate sponsorship. How? This model of news depends on your support. Right now, every new monthly sustaining donation to Democracy Now! will be tripled by a generous supporter. That means if you can give just $4 a month, Democracy Now! gets $12 today.  Pretty amazing right? If you visit us daily or weekly or even just once a month, start your monthly contribution today. Thanks so much. -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 squareStorySep 18, 2018Intercept Report Reveals Senate Ignored Federal Court Employees Willing to Testify Against Kavanaugh
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