Mega-bank credit cards often finance soon to be obsolete and antiquated fossil fuel development like fracking, mountaintop removal, coal fired power plants and Canadian tar sands projects. They were largely responsible for this last Great Recession with predatory lending, foreclosure scandals and the support of far less than green lobbyists and political candidates.
“Dirty Money”, a report released by the Rainforest Action Network, BankTrack and the Sierra Club listed the five worst offenders when it comes to mountaintop removal and coal power financing as Bank of America, JP Morgan Chase, Citi, Morgan Stanley and Wells Fargo.
Green America launched a “Break Up With Your Mega-Bank” campaign in 2008 encouraging people to switch to community banks and credit unions that have a tendency to support greener and more localized projects. The focus has turned to credit cards www.BreakUpWithYourMegaBank.org