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Move Your Money Campaign has inspired Millions

Move Your Money Campaign has inspired Millions The Move Your Money campaign has inspired millions to leave the big banks and has gained the support of prominent media figures and even a few politicians. But academics are also taking a serious look at the movement and concluding that it has the ability to play a powerful role in creating a new financial system. At least that’s what Raymond H. Brescia, associate law professor at Albany Law School, has to say in his new paper, The Cost of Inequality: Social Distance, Predatory Conduct, and the Financial Crisis:

Is there a way to take such lessons to scale, and capture the benefits of social capital in financial transactions?

A grassroots movement is afoot that attempts to do just that. The “Move Your Money” campaign was hatched by Arianna Huffington and others in late 2009 as a way to bring community banking values back to retail banking.

Is there a way to take such lessons to scale, and capture the benefits of social capital in financial transactions? This effort is designed to convince retail banking consumers to utilize the banking services of those financial institutions with strong ties to local communities. Using a risk assessment tool developed by Institutional Risk Analytics,227 the Move Your Campaign claims that over 2 million participants, moving $5 Billion in assets, have ended their relationship with their large banks in institutions.228 Institutional and governmental investors have also adopted similar tactics

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