Occupy Wells Fargo Vigil to Stop Evictions on April 16, 2013

IMG_3044_1The Occupy Wells Fargo Vigil to Stop Evictions on April 16, 2013, took place at the Wells Fargo History Museum at 420 Montgomery Street in San Francisco. We continue to demand that Wells Fargo stop foreclosing on and evicting our neighbors with their illegal, predatory, or discriminatory loans.

We look forward to continuing the vigils this week and ongoing until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbor Bernetta Adolph, a disabled senior retired Muni employee.

To find out more and RSVP for one of the vigil opportunities, see http://occupytheauctions.org/wordpress/?p=8570

SFERS Inaction on Predatory Bank Motions for City Retirement Funds

IMG_2972_1The San Francisco Employee Retirement System (SFERS) Retirement Board decided on April 10, 2013, not to decide anything at all on the two predatory banking motions Commissioner Herb Meiberger proposed to the Retirement Board. The vote took place in a roundabout way after much comment from the public and the commissioners in Commissioner and SF Supervisor Malia Cohen’s absence (due to illness) and once SFERS Retirement Board President Wendy Paskin-Jordan and Commissioner Brenda Wright, a senior Wells Fargo employee, had recused themselves from the deliberations. Commission Victor Makras disclosed ownership of about $11,000 of Bank of America stock, which perhaps also should have been grounds for recusal.

After much discussion from the standing-room only crowd, including lots of Wells Fargo employees paid to attend and representatives from nonprofit organizations receiving Wells Fargo funds, as well as presentation of a petition in support of the motions signed by more than 130 people, Commissioner Meiberger was unable to get a second for the motion. Then, Commissioner Makras proposed a negative motion to stop further deliberations on Herb’s motion, for which he got a second, but could not get a majority vote since Commissioner and police officer Brian Stansbury joined Commissioner Meiberger in opposing the negative motion. However, when Commissioner Meiberger again proposed the original motion, Commissioner Stansbury still did not second the motion, so the Commission did nothing at all.

If the motion should come up with Commissioner Cohen present, it seems that she could provide the necessary second for the original motions and would perhaps be able to cast the deciding vote yea or nay on at least the first, if not also the second motion.

Go to: Media Coverage    Videos    Audio    Photos    Background    Links   

Media Coverage

San Francisco Business Times (note: incorrectly states that activists protested at Brenda Wright’s home)    San Francisco Examiner

Videos

Thanks to Steve Zeltzer for the first summary video above.

Thanks to John of Bright Path Video for the summary videos above (parts I and II).

Audio

Photos

Background:

IMG_2337_1Current and retired city employees, Foreclosure and Eviction Fighters, and supporters from Service Employees International Union (SEIU) 1021, Alliance of Californians for Community Empowerment (ACCE), Occupy Bernal, Occupy Noe, and the Occupy the Auctions and Evictions Campaign provided important testimony about the illegal, predatory, and discriminatory practices of banks like Wells Fargo, JP Morgan Chase, and Bank of America at meeting of the San Francisco Employee Retirement System Retirement Board on January 9, February 13, and March 13, 2013.

At each meeting, the group asked the Retirement Board to uphold its fiduciary responsibility to investigate the illegal, predatory, and discriminatory practices of the banks, to request that the banks stop these practices, to sponsor shareholder resolutions if they don’t stop, and to divest from the banks’ stocks if the shareholder resolutions do not succeed. Some of the Commissioners responded favorably to the public comment testimony.

Since the last SFERS Retirement Board meeting, a number of organizations have declared their support of the motions under consideration at the April 10 meeting, including the Retired Employees of the City and County of San Francisco (RECCSF), Housing Rights Committee of San Francisco, and the San Francisco Tenants Union.

The San Francisco Employee Retirement Systems (SFERS) handles investments for pension funds for current and retired San Francisco city employees. SFERS has policies that include “Social Investment Procedures” adopted at the SFERS Retirement Board meeting of September 27, 1988, which requires the SFERS Retirement Board when making investments in stocks, mutual funds, and so on, to consider:

“Community Relations: the relationship of the corporation to the communities in which it operates shall be maintained as a good corporate citizen through observing proper environmental standards, supporting the local economic, social and cultural climate, conducting acquisitions and reorganizations to minimize adverse effects and not discriminate in making loans or writing insurance.” (emphasis added by Occupy the Auctions)

A record number of San Francisco City and County employees, as well as others residents of San Francisco and beyond, are facing mortgage loan defaults, foreclosures, and evictions (an estimated 12,000 foreclosures in San Francisco between 2008 and 2011). Many have already lost their homes.

Wells Fargo, JP Morgan Chase, and Bank of America are the market leaders in foreclosures and related evictions here in San Francisco and statewide. These banks engaged in illegal, predatory, and discriminatory practices by putting African-American and Latino borrowers into higher-cost, subprime loans than white borrowers. In fact, in July 2012, Wells Fargo agreed to pay $175 million to settle a United States Department of Justice lawsuit for its discriminatory mortgage lending practices affecting more than 30,000 borrowers, including those banking at the Bayview Wells Fargo branch.

Billions of dollars in mortgage lender settlements with government agencies and other parties have to date not managed to solve the mortgage lending crisis, making mortgage lenders and servicers a potential medium-term and long-term investment risk. Illegal, predatory, and discriminatory foreclosures harm all homeowners, erode the property tax base, and cost local governments, hurting the standard of living of retirees and all working people.

01Wells Fargo is #1 in San Francisco foreclosures. San Francisco’s Mayor and Board of Supervisors have unanimously requested a halt to foreclosures and related evictions, especially since San Francisco Assessor-Recorder’s report showing that 84% of foreclosures have at least one legal violation and due to Wells’ $175 million settlement with the United States Department of Justice paid in response to allegations of racial discrimination in providing mortgage loans in San Francisco’s Bayview-Hunters Point and other neighborhoods.

Wells Fargo’s “waterfall” model, along with similar policies from other lenders, ensures that the bank can squeeze the most money possible from homeowners struggling to make payments while finally discarding them like trash if the bank can’t make a profit on every single loan. Running a mortgage loan business means assuming risks, especially after receiving billions in bailout funds from the taxpayers, many of whom are Wells’ mortgage loan borrowers.

Wells Fargo is putting 32 families at risk of losing their homes due to foreclosure and related evictions during this holiday season. Wells Fargo is foreclosing on and evicting veterans and disabled and senior homeowners and families with children, as well as targeting homeowners with life-threatening illnesses. Wells Fargo has engaged in predatory, fraudulent, and racist lending practices and has contributed to a rash of foreclosure deaths.

Links:

Petition Supporting SFERS Motions    April 10 Media Advisory    Agenda for SFERS Retirement Board Meeting on April 10, 2013    Staff Memo for SFERS Retirement Board Meeting on April 10, 2013    SFERS Social Investment Policy    Members of SFERS Retirement Board    SFERS Retirement Board Meeting on March 13, 2013    SFERS Retirement Board Meeting on January 9, 2013    San Francisco Business Times    KCBS (including audio segment)    Wells Pays $175 Million to Resolve Allegations of Racial Discrimination in Providing Mortgage Loans    Occupy Our Homes Wells Fargo Bayview Branch Action    Occupy Wells Fargo Noe Branch    Occupy Wells Fargo HQ    Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary)

San Francisco Retirement System to Debate Investments in Predatory Banks

The San Francisco Employee Retirement System (SFERS) Retirement Board plans to consider two motions regarding investments in banks engaged in illegal, predatory, or discriminatory lending at its next meeting.

What: SFERS Retirement Board Meeting on Predatory Bank Investments
When: 1:30pm on Wednesday, April 10 (arrive early to get a seat before meeting starts at 2:00pm)
Where: 30 Van Ness Avenue, 3rd floor, near Market Street, San Francisco

SFERS Commissioner Herb Meiberger introduced the motions with overwhelming support from current and retired city employees served by the retirement system.

Background:

IMG_2337_1Current and retired city employees, Foreclosure and Eviction Fighters, and supporters from Service Employees International Union (SEIU) 1021, Alliance of Californians for Community Empowerment (ACCE), Occupy Bernal, Occupy Noe, and the Occupy the Auctions and Evictions Campaign provided important testimony about the illegal, predatory, and discriminatory practices of banks like Wells Fargo, JP Morgan Chase, and Bank of America at meeting of the San Francisco Employee Retirement System Retirement Board on January 9, February 13, and March 13, 2013.

At each meeting, the group asked the Retirement Board to uphold its fiduciary responsibility to investigate the illegal, predatory, and discriminatory practices of the banks, to request that the banks stop these practices, to sponsor shareholder resolutions if they don’t stop, and to divest from the banks’ stocks if the shareholder resolutions do not succeed. Some of the Commissioners responded favorably to the public comment testimony.

Since the last SFERS Retirement Board meeting, a number of organizations have declared their support of the motions under consideration at the April 10 meeting, including the Retired Employees of the City and County of San Francisco (RECCSF), Housing Rights Committee of San Francisco, and the San Francisco Tenants Union.

The San Francisco Employee Retirement Systems (SFERS) handles investments for pension funds for current and retired San Francisco city employees. SFERS has policies that include “Social Investment Procedures” adopted at the SFERS Retirement Board meeting of September 27, 1988, which requires the SFERS Retirement Board when making investments in stocks, mutual funds, and so on, to consider:

“Community Relations: the relationship of the corporation to the communities in which it operates shall be maintained as a good corporate citizen through observing proper environmental standards, supporting the local economic, social and cultural climate, conducting acquisitions and reorganizations to minimize adverse effects and not discriminate in making loans or writing insurance.” (emphasis added by Occupy the Auctions)

A record number of San Francisco City and County employees, as well as others residents of San Francisco and beyond, are facing mortgage loan defaults, foreclosures, and evictions (an estimated 12,000 foreclosures in San Francisco between 2008 and 2011). Many have already lost their homes.

Wells Fargo, JP Morgan Chase, and Bank of America are the market leaders in foreclosures and related evictions here in San Francisco and statewide. These banks engaged in illegal, predatory, and discriminatory practices by putting African-American and Latino borrowers into higher-cost, subprime loans than white borrowers. In fact, in July 2012, Wells Fargo agreed to pay $175 million to settle a United States Department of Justice lawsuit for its discriminatory mortgage lending practices affecting more than 30,000 borrowers, including those banking at the Bayview Wells Fargo branch.

Billions of dollars in mortgage lender settlements with government agencies and other parties have to date not managed to solve the mortgage lending crisis, making mortgage lenders and servicers a potential medium-term and long-term investment risk. Illegal, predatory, and discriminatory foreclosures harm all homeowners, erode the property tax base, and cost local governments, hurting the standard of living of retirees and all working people.

01Wells Fargo is #1 in San Francisco foreclosures. San Francisco’s Mayor and Board of Supervisors have unanimously requested a halt to foreclosures and related evictions, especially since San Francisco Assessor-Recorder’s report showing that 84% of foreclosures have at least one legal violation and due to Wells’ $175 million settlement with the United States Department of Justice paid in response to allegations of racial discrimination in providing mortgage loans in San Francisco’s Bayview-Hunters Point and other neighborhoods.

Wells Fargo’s “waterfall” model, along with similar policies from other lenders, ensures that the bank can squeeze the most money possible from homeowners struggling to make payments while finally discarding them like trash if the bank can’t make a profit on every single loan. Running a mortgage loan business means assuming risks, especially after receiving billions in bailout funds from the taxpayers, many of whom are Wells’ mortgage loan borrowers.

Wells Fargo is putting 32 families at risk of losing their homes due to foreclosure and related evictions during this holiday season. Wells Fargo is foreclosing on and evicting veterans and disabled and senior homeowners and families with children, as well as targeting homeowners with life-threatening illnesses. Wells Fargo has engaged in predatory, fraudulent, and racist lending practices and has contributed to a rash of foreclosure deaths.

Links:

Agenda for SFERS Retirement Board Meeting on April 10, 2013    Members of SFERS Retirement Board    SFERS Retirement Board Meeting on March 13, 2013    SFERS Retirement Board Meeting on January 9, 2013    San Francisco Business Times    KCBS (including audio segment)    Wells Pays $175 Million to Resolve Allegations of Racial Discrimination in Providing Mortgage Loans    Occupy Our Homes Wells Fargo Bayview Branch Action    Occupy Wells Fargo Noe Branch    Occupy Wells Fargo HQ    Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary)

For this release and updates: http://occupytheauctions.org/wordpress/?p=8821

Occupy Wells Fargo Vigil to Stop Evictions on March 30, 2013

wellsfargo-haight-action.stillfromvideoThe Occupy Wells Fargo Vigil to Stop Evictions on March 30, 2013, went to another location, the Haight! We continue to demand that Wells Fargo stop foreclosing on and evicting our neighbors with their illegal, predatory, or discriminatory loans.

We picketed with signs and leaflets in front of the Wells Fargo bank branch at 1726 Haight Street to a lot of positive and a little negative response. We charged into the bank urging people to “move your money out of Wells Fargo.” The security guard told us to leave, then monitored the door to let in only one customer at a time.

We look forward to continuing the vigils this week and ongoing until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbor Bernetta Adolph, a disabled senior retired Muni employee.

At their weekly meeting this morning, the Foreclosure and Eviction Fighters of the Alliance of Californians for Community Empowerment (ACCE), Occupy Bernal, and Occupy Noe decided to endorse the Occupy Wells Fargo Vigil to Stop Evictions.

To find out more and RSVP for one of the vigil opportunities, see http://occupytheauctions.org/wordpress/?p=8570

Occupy Wells Fargo Vigil to Stop Evictions on March 29, 2013

IMG_2950_1The Occupy Wells Fargo Vigil to Stop Evictions on March 29, 2013, went well. We continue to demand that Wells Fargo stop foreclosing on and evicting our neighbors with their illegal, predatory, or discriminatory loans. They still had covered up the Wells Fargo “family jewels” — the Wells Fargo stagecoach.

We look forward to continuing the vigils this week and ongoing until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbor Bernetta Adolph, a disabled senior retired Muni employee. Bernetta made a cameo appearance at the vigil today, along with a Boston activist named Denise and Foreclosure and Eviction Fighters Gladys and Edzel.

To find out more and RSVP for one of the vigil opportunities, see http://occupytheauctions.org/wordpress/?p=8570

Occupy Wells Fargo Vigil to Stop Evictions on March 28, 2013

IMG_2947_1The Occupy Wells Fargo Vigil to Stop Evictions on March 28, 2013, went well. We continue to demand that Wells Fargo stop foreclosing on and evicting our neighbors with their illegal, predatory, or discriminatory loans. They still had covered up the Wells Fargo “family jewels” — the Wells Fargo stagecoach.

We look forward to continuing the vigils this week and ongoing until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbor Bernetta Adolph, a disabled senior retired Muni employee. Bernetta made a cameo appearance at the vigil today.

To find out more and RSVP for one of the vigil opportunities, see http://occupytheauctions.org/wordpress/?p=8570

Occupy Wells Fargo Vigil to Stop Evictions on March 26, 2013

IMG_2942_1The Occupy Wells Fargo Vigil to Stop Evictions on March 26, 2013, was again a smashing success! (well, we didn’t actually smash anything) 😉 Two of us gathered to demand that Wells Fargo stop foreclosing on and evicting our neighbors with their illegal, predatory, or discriminatory loans. They still had covered up the Wells Fargo “family jewels” — the Wells Fargo stagecoach.

As students from a local school headed into the Wells Fargo History Museum, we asked them to ask why Wells Fargo is throwing children and disabled seniors out of their homes.

We look forward to continuing the vigils this week and ongoing until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbor Bernetta Adolph, a disabled senior retired Muni employee.

To find out more and RSVP for one of the vigil opportunities, see http://occupytheauctions.org/wordpress/?p=8570

Occupy Wells Fargo Vigil to Stop Evictions on March 25, 2013

IMG_2941_1The first day of the Occupy Wells Fargo Vigil to Stop Evictions on March 25, 2013, was a smashing success! Five of us gathered to demand that Wells Fargo stop foreclosing on and evicting our neighbors with their illegal, predatory, or discriminatory loans. Before we even arrived, they had covered up the Wells Fargo stagecoach — the Wells Fargo “family jewels” as it were — so that we couldn’t have nice photo ops of protestors and the stagecoach. Personally, I like the photo op of them being silly enough to cover up the stagecoach for five protestors much better! (see photo on the right and videos below)

We look forward to continuing the vigils this week and ongoing until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbor Bernetta Adolph, a disabled senior retired Muni employee.

To find out more and RSVP for one of the vigil opportunities, see http://occupytheauctions.org/wordpress/?p=8570

PNC Bank Protest — Help Yin Wong Stay in Her Home!

IMG_2779_1On March 15, 2013, few dozen protestors from the Alliance of Californians for Community Empowerment, Occupy Bernal, Occupy Noe and other organizations protested PNC Bank’s seventh attempt to evict disabled senior Yin Wong from her San Francisco Bayview home even though she made all her payments on time. The Foreclosure and Eviction Fighters and their supporters shut down the entrances to the PNC Bank branch on the 28th floor of 575 Market Street, as well as access to the rest of the building except through a loading dock on the rear side of the building. The group demanded that PNC Bank cancel the eviction and sell Yin Wong her home.

Media coverage: Huffington Post

Videos and photos:

Links: Action Alert    Protest at PNC on August 27, 2012    Protest at PNC on July 26, 2012    OLD PNC Action flyer in English    OLD PNC Action Flyer in Chinese

PNC Bank Protest — Stop Eviction and Help Yin Wong Keep Her Family Home

PNC Bank plans to evict Foreclosure and Eviction Fighter Yin Wong and her family from their home in Bayview. We have to stop them!

 
Please take action with these steps to save their home:

NOTE: PNC Bank has been blacklisting email addresses, so if you can send your email from another email address please do so.

1) Call and email these PNC staff with the message below:

  • PNC CEO James E. Rohr right now at 412-762-2294 (may transfer to Executive Complaint Office voicemail) or 412-963-6133 (home)
  • PNC Bank President William Demchak at 917-348-1173 (cell)
  • PNC Senior Vice President Thomas Hyland at 212-527-3938
  • PNC Bank Vice President of Corporate Communications Fred Solomon at 412-762-7544

To: james.e.rohr@pnc.com, james.rohr@pnc.com, bill.demchak@pnc.com, thomas.hyland@pnc.com, frederick.solomon@pnc.com
Cc: alisa.winslow@pnc.com, alok.satyawadi@pnc.com, andrew.siwulec@pnc.com, angela.gammage@pnc.com, barbara.martocci@pnc.com, barbara.stuck@pnc.com, catherine.bernard@pnc.com, dale.klose@pnc.com, daniel.potter@pnc.com, david.aloise@pnc.com, deborah.vanvalkenburgh@pnc.com, ginger.siegel@pnc.com, jerry.furby@pnc.com, joel.roediger@pnc.com, john.robinson@pnc.com, john.turner@pnc.com, joseph.chasteen@pnc.com, karen.larrimer@pnc.com, kevin.scheffler@pnc.com, kim.mcneil@pnc.com, laura.watson@pnc.com, liz.kuonen@pnc.com, lou.stempkowski@pnc.com, michael.delgado@pnc.com, michael.golden@pnc.com, michael.ley@pnc.com, robert.andres@pnc.com, sam.colton@pnc.com, sean.costello@pnc.com, susan.campbell@pnc.com, william.lashbrook@pnc.com, action@occupytheauctions.org
Subject: Stop Eviction and Sell Yin Wong (#0002043106) Her Family Home

Dear PNC,

Please postpone the seventh eviction attempt you’ve scheduled for March 6, and sell San Francisco resident Yin Wong and her daughter Wai Cheung (PNC mortgage customer loan #0002043106) their family home in Bayview. After PNC purchased their mortgage loan from National City Mortgage, they received no notification of the purchase so their EFT payment didn’t make it to PNC, which rapidly foreclosed on their home and has tried six times to evict them. They have always paid and been prepared to pay their mortgage, so please negotiate with them and settle this matter fairly.

Sincerely,

your name here

2) Sign the OccupyOurHomes.org Petition.

3) Stay tuned for 6:00am Wednesday home eviction defense at Yin Wong’s home, which may last all day. Those who wish to commit civil disobedience (i.e. take an arrest) may have the opportunity to do so, although anyone who doesn’t want to risk arrest may of course also participate.

Background

PNC Bank is stealing the home of Yin Wong, disabled senior by ILLEGALLY foreclosing on her and her family after National City Mortgage sold the loan on her home to PNC Bank. The first she heard of PNC’s purchase of the loan was a foreclosure notice in the mail. Even though Yin Wong has the money to pay the loan and has tried to get PNC Bank to accept it, PNC has refused and has pushed eviction proceedings forward even after four prior court appearances during which the Superior Court judge urged PNC to correct the problem. Yin Wong has tried over and over to work with PNC, but PNC has refused to work with her.

PNC Bank did the exact same thing with the Cruz family in Minneapolis… thousands of people have protested their eviction, organizing to re-occupy their home with dozens of arrests.

Let’s stand together to fight back and let banks know that we won’t let them foreclosure on families illegally.

JOIN US AND DEMAND PNC WORK WITH YIN TO KEEP HER HOME!!!

To get involved or for more information, call Grace at ACCE at +1-415-377-6872 or email gmartinez@calorganize.org

Links: Protest at PNC on March 15, 2013    Protest at PNC on August 27, 2012    Protest at PNC on July 26, 2012    OLD PNC Action flyer in English    OLD PNC Action Flyer in Chinese

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=8439