Bank Tellers Unionize & Demand Santander to Stop its Predatory Practices of Ripping Off Blacks & Latinos

From [HERE] and [HERE] For the first time ever, bank tellers in the U.S. are organizing a union.
What’s more, they’re demanding that their employer, Santander Holdings, USA, stop its predatory practices and start serving its customers ethically. Too often Santander forces its workers to choose between ripping off their customers and losing their jobs.
The Office of the Comptroller of the Currency (OCC) in February downgraded Santander’ Bank’s Community Reinvestment Act (CRA) rating to “needs to improve.” The OCC decided to lower the CRA rating further based on several deceptive or unfair billing practices, non-compliance related to motor vehicle loans, and deceptive overdraft practices.
The bank serves a number of states in the Northeast region and is headquartered in Boston.
Eleven US senators from the impacted states, including Sen. Elizabeth Warren and Sen. Ed Markey, sent a letter on March 2 to Comptroller Thomas J. Curry concerning Santander’s CRA commitments.
They noted a report by the Committee for Better Banks (CBB), analyzing Santander’s 2014-2015 performance, which concluded: “Santander struggled to meet its lending requirements to low-income and communities of color in ten metropolitan areas.”
Its loan denial rates overall for communities of color in 2015 were 0.5 percent above the industry average, according to that report. Denial for low-income communities were 19.6 percent, compared with the industry average of 15.9 percent. [MORE]
Santander made $5 billion in profits last year from subprime auto and consumer loans and averages $555 million in profits each month from a growing number of banks in New York, New Jersey, Pennsylvania, Texas and New England. It’s a subsidiary of Spain’s Banco Santander, the Euro Zone’s second-largest bank, with some 150,000 employees and with branches throughout Europe and South America. There are approximately 15,000 Santander workers in the U.S.
Although Santander rakes in billions, the median annual wage for bank tellers in the U.S. is about $26,400. One-third qualify for some sort of public assistance, such as food stamps or Medicaid.
And the salaries of higher level employees are often determined by whether they meet unrealistically high sales quotas, putting pressure on them to sell unwanted and sometimes expensive services to their customers.
The unionizing campaign by Santander workers is being led by the Committee for Better Banks (CBB) a coalition of bank workers and community and consumer advocates formed by the Communications Workers of America (CWA).
Over the past two months, Santander employees have demonstrated and taken over bank lobbies demanding that management not interfere with their union organizing drive.