The Committee for Better Banks (CBB), Communication Workers of America (CWA) and UNI Finance Global Union (UNI) have joined forces to campaign for better working conditions for finance workers in the United States and throughout the world.
The delegation has organized a day of action in New York City February 18th 2014 to highlight key inequalities and injustices faced by America’s finance workers, bringing together bank workers from across the world to march on Wall Street and show their solidarity for the cause of America’s downtrodden employees.
According to a Committee for Better Banks report, there exists a tale of two banking industries. The outsized wealth and power of Wall Street is evidenced in salary raises of CEO’s like Jamie Dimon, who in 2013 received a 74% pay increase making his salary closer to $20 million, after being fined $20 billion dollars in regulatory and criminal charges. Meanwhile, average bank worker wages are so low that almost one third of bank tellers in America receive some sort of public assistance. Over a third of tellers are living at or below poverty level in contrast to the executives of Wall Street.
UNI Global Finance says US bank workers have not been able to express their rights to organize together in a union. This means that the employees don’t have a voice and are not able to bargain collectively for fair pay and better working conditions.