Forum Post: An Open Letter to Citi CEO Pandit on Saturday Arrests at Citibank

Dear Mr. Pandit,

I was there. I was there when approximately thirty people entered the Citibank branch at 555 La Guardia Place around 2:00 PM in New York City on Saturday, October 15th. I was there when those same people took turns speaking out about Citibank’s bad practices and the practices of the other big banks during the financial crisis.

Your entire statement on the incident reads:

"A large number of protesters entered our branch at 555 La Guardia Place around 2:00 PM today. They were very disruptive and refused to leave after being repeatedly asked, causing our staff to call 911. The Police asked the branch staff to close the branch until the protesters could be removed. Only one person asked to close an account and was accommodated."

I was there. I can tell you what really happened. The protestors entered the branch together, intending to speak out about the bank’s practices, without stopping business at the branch. One member of the group did not join in the protest, but went to close her account instead. Protesters spoke loudly, but did not chant. The bank’s staff quietly asked the group, once or twice, to “protest outside.” At no time did the staff of the branch say that we were in violation of the law or that they would call 911. Within a few minutes plainclothes police or security arrived and several people left fearing unnecessary police action. And then the uniformed police showed up.

I was there when the police failed to ask for cooperation from the group and simply locked the doors to prevent anyone from leaving. I was there when an undercover officer grabbed the woman who tried to close her account and forced her back inside to be arrested. I am sure that you have seen the video by now.

The police wanted to make an example of the protestors and Citibank was complicit in this effort. You helped to arrest those same people whose money helped to bail you out.

Not only was I there for this protest, I was there when Citibank received nearly $50 billion dollars in bailout money. I was there when Citibank participated in the predatory lending practices that have helped to steal the assets of millions of Americans and crash the economy.

Mr. Pandit, America is headed in a different direction, away from big banks and towards a fair and sustainable financial system. Whether you arrest your customers or not, we will be here.

Sincerely,

The 99%