September 29th, 2009
11:49 AM ET
5 years ago

Bank of America pulls ACORN funding

Bank of America pulls ACORN funding.
Bank of America pulls ACORN funding.

NEW YORK (CNN) - Troubled community organizing group ACORN suffered another setback on Monday, when Bank of America announced it is pulling its funding of ACORN Housing.

In a statement, Bank of America said that is it "suspending current commitments to ACORN Housing and will not enter into any further agreements with ACORN or any of its affiliates" until it is satisfied that all issues related to the organization have been resolved.

The Association of Community Organizations for Reform Now, known as ACORN, has been under investigation by both the Justice and Treasury Department after videos recorded on hidden cameras by conservative activists showed
employees allegedly giving advice on illegal activities.

ACORN is also conducting its own investigation through an independent auditor and it says that it has fired the employees involved in the recorded incidents.


The organization was in the headlines during the recent presidential campaign after allegations of voter registration fraud. Some of its voter registration workers were prosecuted and some other employees resigned.

Even greater controversy was ignited by the videos, which show some ACORN workers advising two conservative activists - posing as a pimp and a prostitute - how to set up a prostitution business involving underage, foreign girls.

Bank of America said it "takes recent allegations made against ACORN and ACORN Housing Corporation employees very seriously."

ACORN did not immediately respond to a CNN request for comment.

–CNN's Amy Sahba contributed to this report.


Filed under: ACORN
soundoff (94 Responses)
  1. Bedtime for Obonzo

    ACORN defenders! You guys are a laugh a minute. Thanks for the mid-day chuckle!

    September 29, 2009 02:03 pm at 2:03 pm |
  2. Liz in Texas

    The bad guys just won. Big corporations funded the demonization of ACORN and it has finally paid off. ACORN has been a thorn in big business' side for years with all that fairness in lending hooey. Republican corporatists have been trying to shut ACORN down for 40 years because they don't like poor people voting because most poor folk will vote Democrat even though ACORN is non-partisan. A few bad apples in an organization does not make the organization bad. If so, then Bank of America is very bad along with all those other nasty banks who just got bailed out with taxpayer money.

    September 29, 2009 02:03 pm at 2:03 pm |
  3. Tony

    What's this Acorn story? I have been living in a cave in Tibet for the last month or so, the first thing I heard when I got back was that story and the fact that the president wasn't following it. So I feel like I could be president someday. He must have forgotten he was their lawyer and his campaign gave them $800,000 last fall to resister Mickey Mouse. Nice job by those two kids and GLENN BECK!!!!!

    September 29, 2009 02:22 pm at 2:22 pm |
  4. Pete East

    As reported by the New York Times in 2008, The brother of ACORN's founder was found to have embezzled over $945,000 from the group and affiliated charitable organizations back in 1999 and 2000. ACORN executives decided to handle it as an internal matter, and did not inform most of the board members or law enforcement. According to Mr. Rathke, the decision to keep the matter secret was not made to protect his brother but because word of the embezzlement would have put a 'weapon' into the hands of enemies of ACORN.

    Can you imagine the outrage from the Left if a Right wing advocacy group had made a similar statement? Obviously they do not want to play under the same rules that they want to impose on everyone else.

    September 29, 2009 02:22 pm at 2:22 pm |
  5. Steve (the real one)

    ACORN is in trouble in New Orleans, Vegas, Miami, caught on tape in 4 cities, registered Micky and Minnie Mouse as voters, caught on tape bragging how cigarettes and cash were traded for registration cards. ACORN IS NOT the only agency working for the poor! States have their own agencies working in this area! Stop apologizing for this mess of a group! Why is it so hard for you usual suspects to admit there is fault in this group? Always fingering the republicans! Oh and that "ACORN was funded by the republicans" argument! I'll give you that..its true. Give me one back. The ACORN dung hit the fan under a liberal administration! That too is true, can I get that? Last thing, I have NEVER heard anybody report on how ACORN was getting the vote out for ANY republican, yet the GOP funded them! Wonder why???

    September 29, 2009 02:23 pm at 2:23 pm |
  6. Kevin in Ohio

    America is waking up.

    September 29, 2009 02:29 pm at 2:29 pm |
  7. gt

    great from a bank who sends money out of america to mexico faster than a speeding bullet....

    September 29, 2009 02:30 pm at 2:30 pm |
  8. Julie-Texas

    Glad to hear ACORN is losing all their funding. They should have already been shutdown and quickly. It is laughable to think this organization could be anything but a dud. Yes, where is Bertha Lewis now? I hope they take the media and the two pimps on because I really want to know who all is involved and who has been benefiting from this unsavory organization. The truth needs to completely come out. These people were so sure they could do and say anything. They didn't seem the least bit concerned they could get into troulble. This to me is one of the highest crimes there could be. Maybe Pres Obama can get our taxpayer money back to fund other worthy projuects. This sure isn't one of them. Can anyone imagine getting away with this in any normal job? NO.

    September 29, 2009 02:31 pm at 2:31 pm |
  9. BestProfitCompany = WAR

    Good, ACORN shouldn't do business with greedy-corrupt banks.

    Looks like Rethuglicans manipulated the American people once again! They portrayed ACORN as this evil organization. But the reality is, ACORN helps with voter registration for the poor and the majority of the time, the poor voters vote democrat. That is why Karl Rove wanted those fired US attorney to stop ACORN. But they didn't find any wrong doing, which is why they got fired. Good job media on doing Rethuglicans bidding... you too stupid democrats!

    September 29, 2009 02:36 pm at 2:36 pm |
  10. Steph

    Congrats GOP. You've shut down an ineffective, though not corrupt, organization. The folks at ACORN aren't smart enough to be corrupt. All of the conspiracy theories about ACORN are about as valid as the birthers' claims!

    As a democrat, I could care less about ACORN, but I do find it funny that you right wingers are spending so much energy on them. I hope you tire yourselves out shouting about this organization and birth certificates, etc... so the real adults can continue our work on health care reform and the economic recovery.

    Hopefully, more organized non-profits will actually serve the needs of the poor and moderate income clients of ACORN in a more efficient way.

    September 29, 2009 02:37 pm at 2:37 pm |
  11. ran

    We the people should be pulling BOA Executives multillion $ salaries and bonuses.

    September 29, 2009 02:41 pm at 2:41 pm |
  12. Larry

    How is it that Bank of America "funds" Acorn? Are they the banker? or do they pay them charity money or what?

    All you Acorn experts are too funny. I bet 3/4 of you all never heard of them before Rush et al started the attacks less than 2 years ago.

    September 29, 2009 02:44 pm at 2:44 pm |
  13. Wake Up

    If bush was so bad, why do so many libs say "bush did it". Bush is a FORMER president. Obama is a disaster and our current president. Quit calling stupid names "rethugs", "repugs", "faux news"...you people are so pointless.

    September 29, 2009 02:49 pm at 2:49 pm |
  14. Mike in FL

    This is so stupid. The guy was dressed like it was Halloween and went to MANY ACORN offices and only found 1 that responded to his scheme. I don't even think those workers took them seriously since no one dresses like that in 2009. It was OBVIOUS that he was in costume.
    That said, the Republicans just want ACORN gone because they get poor people and minorities out to vote, who tend to vote Democrat. No false votes have been cast because of ACORN. You really think someone named "Mickey Mouse" showed up to a polling place with a "Mickey Mouse" i.d. and was allowed to vote?
    Jimmy Carter was right.....

    September 29, 2009 02:49 pm at 2:49 pm |
  15. Terry from West Texas

    "NEW YORK (Dow Jones)–Ohio Attorney General Richard Cordray said Monday his office could soon seek "billions" from Bank of America Corp. (BAC) and some of its executives, including Chief Executive Ken Lewis, over the bank's handling of its merger with Merrill Lynch & Co. earlier this year.

    Cordray has filed a lawsuit on behalf of five pension funds accusing the bank and four executives, including Bank of America Chief Financial Officer Joe Price and Merrill's former chief executive, John Thain, with concealing widening losses at Merrill ahead of a shareholder vote last December to approve the deal. The lawsuit also names Bank of America's chief accounting officer, Neil Cotty."

    So, who has done more damage? Acorn or BoA?

    September 29, 2009 02:50 pm at 2:50 pm |
  16. robski

    The MORE corrupt taking money away from the FEW corrupt. How ironic...

    September 29, 2009 02:50 pm at 2:50 pm |
  17. Jack in Florida

    Unaware the Bank of America was the Bank of the Right Wing Republicans......interesting.

    September 29, 2009 02:59 pm at 2:59 pm |
  18. murray

    I don't know who said it, but back in the late '60's early '70's there was a saying that "there is money in poverty." How sad that it continues.

    September 29, 2009 03:04 pm at 3:04 pm |
  19. Jeff

    ACORN is a completely and totally corrupt organization. Clearly. While I'm not proud that they broke the law to get the tape they did in Maryland, overall, I think what they did was the right thing. ACORN deserves no more TAX PAYER money and I think that the futher they look into this, the more fraud they will find. And I'm SO sure that ACORN's main focus is helping poor people...riiiiight.

    Corruption is corruption. I don't care if it's a liberal finding it or a conservation finding it...I'm proud of anyone who discovers corruption going on and blows the whistle on it. We need some hidden cameras in Washington, DC...hopefully that will be coming soon!

    September 29, 2009 03:05 pm at 3:05 pm |
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