A23 Wells Fargo Shareholder Meeting Protests Draw Hundreds of Protestors, Demand Housing Justice

IMG_3112_1A protest at the Wells Fargo headquarters at 420 Montgomery Street in San Francisco took place on April 13, 2013, in coordination with a protest earlier the same day at the Wells Fargo Shareholder meeting held in Salt Lake City, Utah. These protests are a special edition of the Occupy Wells Fargo Vigil to Stop Evictions.

More than a dozen protestors from the Alliance of Californians for Community Empowerment (ACCE) and other organizations infiltrated the shareholders meeting and told Wells Fargo executives what they thought of their practices regarding predatory, illegal, and discriminatory lending and related foreclosures and evictions. Maria Alvarez, whose family is facing eviction by Wells Fargo, got to tell Wells Fargo CEO John Stumpf to his face that he is a liar, then Wells threw the protestors out of the shareholders meeting.

IMG_3134_1Meanwhile, in San Francisco, about one hundred protestors from the ACCE (San Francisco and Oakland), Occupy Bernal, Occupy Noe, and the Occupy the Auctions and Evictions campaign held a memorial service in front of the Wells Fargo Headquarters and History Museum at 420 Montgomery Street. A trumpeter named Elaine played taps and Archbishop Franzo King delighted participants with his saxophone stylings. Various spokespeople read out the names of those who have lost their home or their lives to foreclosures and evictions, spoke in solidarity with those protesting in Salt Lake City, and listed off the many families still struggling to save their homes from Wells Fargo. After each name or section, the crowd chanted repeatedly, “Housing Justice, Home Security!”. Finally, Kathy Lipscomb and Merrie Jo Musni delivered some calalilies to Wells Fargo to complete the memorial service.

Links: Media Coverage    Videos of Wells Fargo Protest in Salt Lake City    Videos of Wells Fargo Protest in San Francisco   Photos of Wells Fargo Protest    Videos of Union Bank Protest    Photos of Union Bank Protest

Media Coverage

ABC 4: http://www.abc4.com/content/news/slc/story/Protestors-travel-to-SLC-to-rally-at-Wells-Fargos/bxvrOQVRw0ySHLv5QpLKXA.cspx

Associated Press: http://www.ctpost.com/news/crime/article/Demonstrators-disrupt-Wells-Fargo-meeting-in-Utah-4456961.php

Charlotte Business Journal: http://www.bizjournals.com/charlotte/blog/bank_notes/2013/04/protesters-interrupt-wells-fargo.html

Deseret News: http://www.deseretnews.com/article/print/865578855/Protestors-target-Wells-Fargo-annual-meeting.html

Getty Images: http://www.google.com/hostednews/getty/article/ALeqM5gRHE2aisbbNKB1X2Aq31hpdgV86A?docId=167277289

Philadelphia Business Journal: http://www.bizjournals.com/philadelphia/blog/jeff-blumenthal/2013/04/big-banks-met-with-protest-at-annual.html

Salt Lake Tribune: http://www.sltrib.com/sltrib/money/56197313-79/wells-fargo-meeting-bank.html.csp

San Francisco Bay Guardian: http://www.sfbg.com/print/politics/2013/04/23/wells-fargo-foreclosure-fighters-they%E2%80%99re-baaaack

San Francisco Business Times: http://www.bizjournals.com/sanfrancisco/blog/2013/04/protesters-hit-wells-fargo-annual.html?page=all

Videos of Wells Fargo Protest in Salt Lake City

Videos of Wells Fargo Protest in San Francisco

Photos of Wells Fargo Protest

Then, the group broke up with some people going on to protest an eviction by Union Bank at a branch nearby.

Videos of Union Bank Protest

Photos of Union Bank Protest

A23 Wells Fargo Shareholder Protests in Salt Lake City, San Francisco

wells_fargo_billboardLast year thousands of us marched on Wells Fargo and protested their abusive, discriminatory, often illegal lending practices. This year, Wells Fargo has decided to “run for the hills”, moving their annual meeting to Salt Lake City, in an effort to hide from their customers and community. But we’re not going to let them. Homeowners are traveling to Salt Lake City and demonstrating here in California to let CEO John Stumpf know that he will be held accountable. Wells Fargo had its most profitable year ever in 2012, while they’ve sent the rest of us deeper and deeper into debt. Enough is enough!

Homeowners and students are coming together to call for a DEBT JUBILEE – it’s time for the big banks to renegotiate the unfair debt that is crippling our current recovery and our future stability.

Not everyone can road trip to the Shareholder’s meeting in Salt Lake City this Tuesday, but everyone can help in at least one of three ways:

1. WEAR BLACK to the Solidarity Action and Memorial Service for Home Security at Wells Fargo Headquarters in San Francisco on Tuesday, April 23 at 11am: Click here to sign up for the event on facebook or here to RSVP directly.

2. Sponsor a Home Defenders trip to Salt Lake City: We have dozens of Home Defenders ready to chase Wells Fargo all the way to Salt Lake City, but we need $2300 more to pay for their travel and lodging. Click here to help sponsor a Home Defender’s trip.

3. Come with us to Salt Lake City: Sign up here to get more info.

Over the last month alone, we have released a study showing the impact of Wells Fargo’s foreclosure pipeline, confronted John Stumpf at a bankers conference and staged direct actions around the state. Wells Fargo is running away, but with your help they won’t get away with what they have done to our communities.

Click here to sponsor a Home Defender’s trip to Salt Lake City.

accebanner-emailThanks for all you do.

In Solidarity,

Vivian Richardson, ACCE

A22 San Francisco City Hall Action to Protect Tenants From Eviction

Text invitation from the Housing Rights Committee of San Francisco–

We’re going to stop condo conversions for the next decade or more, permanently ban condo conversions on all 5+ units buildings and we’ve removed the threat to rent control in the Wiener-Farrell legislation!

We’re almost there—- there has be one more hearing because of our amendments and we really need people at this one. Join us Monday, April 22, at 12 noon for a rally prior to the final Land Use Committee hearing. The rally will be on the steps of City Hall (Civic Center side) and the hearing will be in Room 263 of City Hall.

The Wiener-Farrell legislation to convert apartments into condos was turned from one of biggest threats to tenants into legislation which will save thousands of apartments from conversions and thousands of tenants from evictions. Under amendments crafted by Supervisors Chiu, Kim, and Yee, all condo conversions will be stopped for at least the next decade and, if and when they resume, conversions will no longer be allowed for 5+ unit buildings. In addition, future conversions will need a higher level of owner-occupancy, which will prevent condo conversions from being used solely for rent control repeal.

These gains were significant enough to allow Existing TICs an expedited condo conversion process over the next several years, but amendments were made here as well. The lifetime leases were made enforceable and other loopholes were plugged up.

Eviction_Death_Flyer

Occupy Wells Fargo Vigil to Stop Evictions on April 20, 2013

IMG_3089_1The Occupy Wells Fargo Vigil to Stop Evictions on April 20, 2013, was a double header — it took place at the Wells Fargo branches at 286 King Street and 490 Brannan Street in San Francisco. Wells Fargo called their corporate security and the police to the protests. Wells Fargo threatened us with a citizen’s arrest, presumably for trespassing, but courteous police officers detained us briefly while writing a police report and released us with a little receipt (no charges or citations).

IMG_3106_1We 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 on an ongoing basis until Wells Fargo stops their illegal, predatory, or discriminatory foreclosures and evictions of folks like our neighbors Manuela Alvarez, Peter Fairfield and Linnea Sweet, and disabled senior Bernetta Adolph.

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

Photos of takeover of Wells Fargo branch at 286 King Street:

Photos of takeover of Wells Fargo branch at 490 Brannan Street:

Occupy Wells Fargo Vigil to Stop Evictions on April 19, 2013

IMG_3051_1The Occupy Wells Fargo Vigil to Stop Evictions on April 19, 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 neighbors Manuela Alvarez, Peter Fairfield and Linnea Sweet, and disabled senior Bernetta Adolph.

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 April 18, 2013

IMG_3045_1The Occupy Wells Fargo Vigil to Stop Evictions on April 18, 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

Occupy the Auctions on April 17, 2013, in San Francisco

On April 17, 2013, auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) sold one family’s home at the foreclosure auction in San Francisco, that is, 619 20th Avenue to auction investor Stephan Alexander Florida of Last Mile Properties for $713,200 (lender Wells Fargo Bank).

Auctioneer Andrew Zheng of Cal Agent Services read postponements and cancellations.

Auctioneer Andrew Zheng of Cal Agent Services read postponements and cancellations.

Auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) read postponements and cancellations.

Auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) began sale of 619 20th Avenue to auction investor Stephan Alexander Florida of Last Mile Properties for $713,200 (lender Wells Fargo Bank).

Auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) continued sale of 619 20th Avenue to auction investor Stephan Alexander Florida of Last Mile Properties for $713,200 (lender Wells Fargo Bank).

Auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) continued sale of 619 20th Avenue to auction investor Stephan Alexander Florida of Last Mile Properties for $713,200 (lender Wells Fargo Bank).

Auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) sold 619 20th Avenue to auction investor Stephan Alexander Florida of Last Mile Properties for $713,200 (lender Wells Fargo Bank).

Occupy Wells Fargo Vigil to Stop Evictions on April 17, 2013

The Occupy Wells Fargo Vigil to Stop Evictions on April 17, 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

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)