Wall Street Journal: Small Businesses vs. Bailed-Out Banks

Wall Street Journal coverage of Delaney Law case, La Guadalupana vs. Bank of America, William Delaney interviewed.

From the Wall Street Journal:

CHICAGO — There is a 17,000-square-foot factory in this city’s ethnic Little Village neighborhood that is home to third-generation tamale maker Alejandro Castro, his grandmother’s handwritten recipe for mole sauce — and a protracted public-relations battle with the nation’s largest bank by assets, Bank of America Corp.

Family-owned La Guadalupana Wholesale Co., Inc. and its Charlotte, N.C., lender tangled for months over the Castros’ failure to make payments on a $400,000 credit line and who was to blame for the default.

“We had to act aggressively and quickly,” said William Delaney, an attorney hired by the Castros. Mr. Delaney ordered news releases like “Small Business Takes Offensive Against Big Bank” and rolled out a Web site featuring the image of a Bank of America credit card stamped “DENIED.” He said he hoped the public pressure would bring the bank to the negotiating table.

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