Rally Against Bank Funded Ellis Act Evictions

First Republic Bank is playing a direct role in the displacement of long-term tenants through the loans it provides to speculators and investors. According to data analyzed by Tenants Together and the Anti Eviction Mapping Project, over 3,600 units have been removed from the rental market in San Francisco under the Ellis Act, and over 10,000 tenants have been displaced from 1997 through 2013. Many of these evictions could not have happened without investors first obtaining loans from banks, including First Republic.

Tomorrow, affected tenants and community leaders (bilingual English and Spanish speaking) will urge the bank to stop funding these so-called "displacement loans" that are enabling speculators to buy buildings and subsequently evict the tenants out of their rent-controlled apartments.