Charlotte Mayor Anthony Foxx condemns bank bashing

Published: Oct. 5, 2011 at 10:34 PM EDT|Updated: Nov. 5, 2011 at 1:52 PM EDT
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CHARLOTTE, NC (WBTV) - At the height of the mortgage meltdown and during the bank bailout that followed it...many of the country's elected officials had harsh words for Bank of America.

But that was nothing compared to Senator Dick Durbin's rant yesterday.

"If Bank of America has their way and nails their loyal customers with a $5 monthly fee, I hope some of their customers will think twice about doing business there," Durbin said.

Durbin, one of the most liberal democrats in Washington, went on to say BofA is over-charging its customers, and Republican Scott Stone is not happy about it.

"When Senator Durbin, from the well of the Senate, talks about private business and how people should leave that private employer, which is going to potentially cost jobs and taint their stock price, that is reprehensible," Stone says.

Stone is running for mayor against incumbent Democrat Anthony Foxx.

"When the president of the United States, when senior members of his party...are going specifically after our banks - our livelihood - including one of our biggest employers, the mayor needs to step up on the side of Charlotte, not with his party," Stone says.

But  that's exactly what the mayor's doing.

"I have no idea what posses people to bash the industry in such a way," Foxx says. "The reality is for us to get the economy going again, the financial system has to be strong."

In the past, Charlotte leaders - Democrats and Republicans - have always been very loyal to Bank of America. It is, after all, one of our largest employers, and the company donates millions to our arts and charities.

"People who live in this community know how generous are financial institutions have been," Foxx says.

And it appears that loyalty won't be faltering now, despite the fact that many voters are really angry about new bank fees, and BofA has become a target for them.

"I think they are easy targets right now," Foxx says, "but I think some of the criticism is not constructive."