Some protestors came out to Bank of America’s annual meeting in Charlotte this week. Outside their headquarters several people held signs and shared their foreclosure stories, according to the Associated Press. Shareholders had the chance to confront Bank of America’s CEO Brian Moynihan about mortgages issues and bankruptcy filings.

The group of about 30 people outside included part of the coalition of religious leaders called N.C. United Power. The group came to protest from all over the country. They’re asking Bank of America to modify more mortgages so that customers don’t lose their homes through foreclosure. “No society can allow a permanent debtor class to emerge,” Mike Broadway, a professor of theology and ethics at Shaw University Divinity School in Raleigh, told the Charlotte Observer.

The newspaper says that many of the protestors were bringing up a recent investigation by Guilford County’s register of deeds that uncovered 4,500 loan documents that supposedly contained fraudulent signatures. Bank of America and others were behind the documents. “We think there’s a smoking gun,” Gerald Taylor, leader of N.C. United Power, told the Charlotte Observer. “Why has nobody… been brought to justice on this?”

At issue are foreclosures and poorly-written mortgages that have hurt Bank of America for several quarters. Legal expenses and other costs related to mortgage failures have cut their income by nearly 40 percent. According to reports, at the end of the first quarter of 2011, Bank of America’s foreclosed properties accounted for $2 billion on their books. Another $24 billion in loans had late payments. According to the Fed, Bank of America may not be able to handle another economic downturn. Officials examined 19 of the largest banks and Bank of America was the only one raising red flags for officials.

Another protestor, Rev. Clyde Ellis, a pastor from northern Virginia came on behalf of many in his community who have faced a foreclosure or who could be. One couple in his congregation lost more than 70 percent of their income, but Bank of America denied a loan modification. Ellis tried to convince bank officials to agree to an independent review of their process of modifying loans and foreclosing on properties. “You just need to come to Prince William County – you’ll see some disaster,” Ellis told Moynihan, according to the Charlotte Observer. “Sir, you’ve got to accept full responsibility for everything that has happened in this foreclosure situation.”

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