With Wells Fargo doling out millions of dollars in these hard stressed times for advertising, can we expect the embattled television stations and print media to cover the growing actions against Wells Fargo. See the links below in front of Wells Fargo in San Francisco in December 2009---not one major media was present although SEIU officials and volunteers led the protest. Also no media covered the CCISCO Led protest.
SEIU led Protest against Wells Fargo
CCISCO Led Protest
FACT SHEET ON WELLS FARGO DUPLICITY WITH HOMEOWNER IN ANTIOCH,CA
- The house in which I live in Antioch, went into default and was about to be foreclosed on, but the owner began negotiations for a loan modification and ultimately worked out a deal for a short sale.
- Well Fargo did not accept the first offer from a buyer in late fall '09. Finally, another offer came in and Wells Fargo accepted the offer by February 8, 2010.
- As a tenant I was preparing myself to move out of the house with an expectation of having 60 days for the sale to go through.
- On Valentine's Day I returned home to find a upsetting and embarrassing notice on the Door with blue broad tape that said Wells Fargo had foreclosed on the house and I had to move.
- Without notice to the landlord, Wells Fargo although having a contract in hand, reneged on the contract to take the listing from the Real Estate Company employed by the landlord that had worked out the deal and immediately gave it to another company. The relationship with the new real estate company had to have been already established.
- In a cash for keys offer, the new real estate agent said she could offer me $500 to move out. In California that would barely pay for a Uhaul truck.
- I immediately began writing our public servants such as Senator Dianne Feinstein,
- California Attorney General Edmund Brown and the Department of Justice.
- The questions I am raising are Is Wells Fargo Business Practices right given they were bailed out yet they reneged on a deal causing stress and additional financial hardship for the landlord and tenant?; Who is Wells Fargo doing business with as foreclosures disproportionately affect minorities? Are they doing business with minority real estate companies, brokers and services (clearing and cleaning houses etc.) on the level of the statistics of those foreclosed on?; Bottom line is Wells Fargo benefiting from the financial hardships of minorities coming and going? Is there collusion between Wells Fargo Bank executives and the businesses they choose to do business with in the aftermath of this financial downturn and high foreclosures among minorities. With the force of monies made with "ghetto loan" ( one executive making $700,00 a year in incentives and salary from such admitted practices), should not Wells Fargo be held accountable?
- By Wells Fargo reneging on a deal that is on the table,without notice, one accepted by one of their agents, the landlord was not able to protect her property through the laws of the land such as bankruptcy, additionally the foreclosure will make it difficult for her to find a job.
- Although a week prior to the foreclosure the landlord had received a good review from her employer, one week after the foreclosure, she was terminated from her job.
There is proof being examined in courts across this nation that Wells Fargo Bank is culpable. See links to articles below:
Prate & Brody file Suit Against Wells Fargo Alleging Wrongful Foreclosure (posted 1/28/10)
http://www.mdjonline.com/pages/full_story/push?article-American+nightmare%20&id=5580797&instance=home_news_left
http://www.georgia-trial-lawyers.com/2010/01/atlanta_lawyers_at_pate_brody_2.html
Illinois Attorney General Sues Wells Fargo Bank
http://money.cnn.com/2009/07/31/news/companies/illinois_wells_fargo.reut/
Class Action Suit Against Wells Fargo in Los Angeles
http://www.housingwire.com/2009/09/01/wells-fargo-discrimination-suit-goes-class-action-1/
Judge Throws Out Baltimore Suit Against Wells Fargo
http://www.nytimes.com/2010/01/09/business/economy/09baltimore.html
http://www.nytimes.com/2009/06/07/us/07baltimore.html
LETTER CALLING FOR THE JUSTICE DEPARTMENT TO INVESTIGATE WELLS FARGO BANK
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