June 12 San Francisco Retirement System Refusing Debate on Investments in Discriminatory Banks

Update: Nine housing justice activists staged a “magical, transformational intervention” of the San Francisco Employee Retirement System (SFERS) Retirement Board meeting on June 12, 2013, in which masked players impersonated the Retirement Board Commissioners and explained why they had a change of heart, then passed two motions to engage banks like Wells Fargo, Bank of America, and JP Morgan Chase on their illegal, predatory, and discriminatory lending practices according to the long-standing SFERS social investment policy.

The nonviolent protest took place at the time that has been reserved for public comment for the past 20 years until the public comment period was moved to the end at the last SFERS Retirement Board meeting in May, requiring those wanting to make public comment to wait through three to four hours of deliberations before getting a chance to speak. SFERS Executive Director Jay Huish had also canceled, for no other reason than his “discretion”, a May 29th Special Meeting to discuss the motions on discriminatory bank lending requested by SFERS Commissioner Malia Cohen, who also serves on the San Francisco Board of Supervisors.


The San Francisco Employee Retirement System (SFERS) Retirement Board is refusing to debate two motions regarding investments in banks engaged in discriminatory lending. For the sixth month, Foreclosure and Eviction Fighters and their supporters from the vast majority of SFERS current and retired employee organizations will demand that the Retirement Board consider these motions to urge the banks to halt their predatory lending practices and to stop evicting our neighbors from their homes and make it right for those who have already been evicted.

What: SFERS Retirement Board Meeting on Predatory Bank Investments
When: 1:30pm on Wednesday, June 12 (go immediately to sign in and stand in line at the door to get a seat — no protest in front of the building this time)
Where: 30 Van Ness Avenue, 3rd floor, near Market Street, San Francisco
Petition: https://tinyurl.com/crt5kga

SFERS Commissioner Herb Meiberger introduced the motions at the April 10, 2013, SFERS Retirement Board meeting with overwhelming support from current and retired city employees served by the retirement system (read Commissioner Meiberger’s remarks about the meeting here).

Background:

IMG_2972_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, March 13, April 10, and May 8, 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 some asked the banks to divest from the banks’ stocks if the shareholder resolutions do not succeed. Some of the Commissioners responded favorably to the public comment testimony.

A number of organizations have declared their support of the motions including organizations representing most of the members of the SFERS retirement system:

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 what ended up as $234.3 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’ $234.3 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. 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:

Statement Read by ACCE/Occupy Organizers at May 8, 2013, SFERS Retirement Board Meeting    Petition Supporting SFERS Motions    SFERS Retirement Board Meeting on April 10, 2013    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 $234.3 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 updates: http://occupytheauctions.org/wordpress/?p=9983

May 8 San Francisco Retirement System Debating Investments in Discriminatory Banks

The San Francisco Employee Retirement System (SFERS) Retirement Board is debating two motions regarding investments in banks engaged in discriminatory lending.

What: SFERS Retirement Board Meeting on Predatory Bank Investments
When: 1:00pm on Wednesday, April 10 (go immediately to sign in and stand in line at the door to get a seat — no protest in front of the building this time)
Where: 30 Van Ness Avenue, 3rd floor, near Market Street, San Francisco
RSVP: https://www.facebook.com/events/508497745864874
Petition: https://tinyurl.com/crt5kga

SFERS Commissioner Herb Meiberger introduced the motions at the April 10, 2013, SFERS Retirement Board meeting with overwhelming support from current and retired city employees served by the retirement system (read Commissioner Meiberger’s remarks about the meeting here).

Background:

IMG_2972_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, March 13, and April 10, 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 some asked the banks to divest from the banks’ stocks if the shareholder resolutions do not succeed. Some of the Commissioners responded favorably to the public comment testimony.

A number of organizations have declared their support of the motions including organizations representing most of the members of the SFERS retirement system:

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 what ended up as $234.3 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’ $234.3 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. 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    SFERS Retirement Board Meeting on April 10, 2013    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 $234.3 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 updates: http://occupytheauctions.org/wordpress/?p=9510

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

ALERT: Wells Fargo Stop Auction of Fairfield-Sweet Home!

Please join us to protest Wells Fargo’s foreclosure auction of Peter and Linnea’s home.

What: Occupy the Auction – Stop Wells Fargo from selling the Peter and Linnea’s home

When: 1:45pm, Tuesday, March 19

Where: City Hall Steps, 400 Van Ness Ave., San Francisco (*not* Civic Center side)

Please bring whistles and earplugs if you can. Also please make calls and send emails below.

PLD.croppedTake action to stop Wells Fargo from auctioning off Peter Fairfield and Linnea Sweet’s home of 33 years–

  • Contact Wells Fargo staff with the following phone and email message:

    • Brenda Wright, Senior VP of Community Relations, +1 415-623-7738
    • Alfredo Pedroza, Director of California Local Government Relations, +1 415-396-0829
    • Ruben Pulido, Communications Staff, +1 415-852-1279
    • John Stumpf, CEO, +1 866-878-5865

     
    Sample message:
     
    To: brenda.wright@wellsfargo.com, alfredo.pedroza@wellsfargo.com, ruben.pulido@wellsfargo.com, john.g.stumpf@wellsfargo.com
    Cc: action@occupybernal.org
    Subject: Stop the March 19 Foreclosure Auction of Peter Fairfield and Linnea Sweet’s Home (loan# 1100225238)

    Dear Wells Fargo staff,

    Please take IMMEDIATE action to stop the March 19 foreclosure auction of Peter Fairfield and Linnea Sweet’s home at 831 Chenery Street (America’s Servicing Company loan# 1100225238) in San Francisco’s Glen Park neighborhood and offer them a fair deal loan modification.

    The Fairfield-Sweet family accessed their home equity to save their photography business with a predatory loan that a mortgage broker assured them they could refinance when payments skyrocketed. But that turned out to be false once the economic crisis set in. Now that their family business is secure, Peter and Linnea (who is disabled) are seeking to live out the rest of their senior years with a loan modification that has affordable payments so they can remain in their home.

    Please also meet the demands for each of the 32 families who Wells Fargo has put at risk of foreclosure and eviction and stop dual tracking by continuing to list foreclosure auctions while negotiating loan modifications.

    Stop contributing to the rash of deaths by foreclosure! Stop the single-minded greedy focus on profit! Stop ignoring the health and well-being of your customers and the communities where we live! Take whatever action is necessary to keep distressed families in their homes!

    This is an URGENT request, so please respond right away.

    Sincerely,

    your name here


Background:

When their photography business got dot-commed out of a SOMA office building with 30 days notice to vacate, Peter Fairfield and Linnea Sweet decided to access their home equity to save their main source of income. A mortgage loan broker convinced them that a sub-prime loan with escalating payments could easily be refinanced when the payments ballooned, so they thought their problems were solved. But the economic downturn made a refi impossible and Wells Fargo (America’s Servicing Company) foreclosed on their home of 33 years. Peter and Linnea are seeking a fair deal loan modification from Wells Fargo so that they and their dog Dagmar can remain in their home.

Wells 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 paid to resolve 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.


This alert brought to you by ACCE, Occupy Bernal, and other supportive organizations coordinated within the Occupy the Auctions and Evictions campaign.

Links: Wells 32 Action Alert    OLD Wells 32 Action Flyer (four to page)    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)    Upcoming Bank Auctions of Foreclosure/Eviction Fighter Homes    Foreclosure/Eviction Fighter Profiles    Previous Action Alert

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=8524

Fairfield-Sweet Home With Banner

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

Action: SFERS, Please Stop Investing in Wells Fargo!

ACCE, SEIU, Occupy Bernal, and Occupy Noe Foreclosure and Eviction Fighters and supporters again provided important testimony about the illegal, predatory, and discriminatory practices of banks like Wells Fargo, JP Morgan Chase, and Bank of America at the meeting of the San Francisco Employee Retirement System Retirement Board on March 13, 2013, just as previously on January 9, 2013 and on February 13, 2013.

The group again asked the Retirement Board 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.

Media coverage: San Francisco Business Times    KCBS (including audio segment)

Videos:

Grace Martinez of ACCE provides testimony to SFERS Retirement Board.

Foreclosure and Eviction Fighter Gladys Dewitt provides testimony to SFERS Retirement Board.

SFERS Retirement Board President Wendy Paskin-Jordan, a former Wells Fargo employee, responds to public testimony.

San Francisco Muni employee and Local 200 former President Alice Fialkin provides testimony to SFERS Retirement Board.

Foreclosure and Eviction Fighter Ian Haddow provides testimony to SFERS Retirement Board.

Former San Francisco city employee Susan McDonough provides testimony to SFERS Retirement Board.

Foreclosure and Eviction Fighter Larry Faulks, evicted from his home by Wells Fargo, provides testimony to SFERS Retirement Board.

Foreclosure and Eviction Fighter and Teamster Ricardo Rodriguez provides testimony to SFERS Retirement Board.

Harry Baker, Retirement Security Chair for SEIU Local 1021, which is the largest union representing SFERS members, provides testimony to SFERS Retirement Board.

Foreclosure and Eviction Fighter Jackie Wright provides testimony to SFERS Retirement Board.

Grace Martinez of ACCE provides testimony to SFERS Retirement Board.

SFERS Retirement Board staff and commissioners discuss whether they can calendar consideration of a resolution on foreclosures and related evictions at the next SFERS meeting in April 2013.

SFERS Retirement Board staff and commissioners continue discussing whether they can calendar consideration of a resolution on foreclosures and related evictions at the next SFERS meeting in April 2013.

The rest of the discussion was not captured on video.


01#1 in SF Foreclosures and Related Evictions: Racist and Predatory

Who: (Retired and Current) City Employees, especially those facing foreclosure/eviction and supporters
What: Public Comment at San Francisco Employees Retirement System (SFERS) Retirement Board Meeting (2 minute limit)
When: 2:00pm, Wednesday, March 13
Where: 30 Van Ness Avenue, 3rd floor (near Market Street)

We are asking SFERS to do the following:

  • Investigate investments in Wells Fargo, which is #1 in foreclosures and related evictions in San Francisco and elsewhere, as well as other lenders foreclosing on and evicting San Francisco homeowners..
  • Prepare and submit a Wells Fargo shareholder resolution to stop predatory and/or racist foreclosures and related evictions for consideration at the next annual Wells Fargo shareholder meeting (probably in April 2013).
  • If Wells Fargo doesn’t adopt the shareholder resolution at its next shareholder meeting and take immediate steps to implement policies and practices in line with the resolution, then divest from any investment in Wells Fargo within three months after that shareholder meeting.

We are asking San Francisco Mayor Lee to do the following:

  • Appoint only qualified candidates to the SFERS Retirement Board who are not executives or employees at Wells Fargo, JP Morgan Chase, or Bank of America (the top three in predatory foreclosures and related evictions in San Francisco).
  • Issue a statement in support of divestment from Wells Fargo of all San Francisco City and County funds, including employee retirement and disability funds.

Background:

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)

Wells 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.


This alert brought to you by ACCE, Occupy Bernal, and other supportive organizations coordinated within the Occupy the Auctions and Evictions campaign.

Links: SFERS Meeting on January 9, 2013    Wells 29 Action Alert    Wells 32 Action Flyer (four to page)    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)    Upcoming Bank Auctions of Foreclosure/Eviction Fighter Homes    Foreclosure/Eviction Fighter Profiles

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=8449

ALERT: Wells Fargo – Stop the Eviction of Bernetta Adolph!

acce.foreclosure.bernetta-adolphPlease take action:

  1. Contact Wells Fargo staff with the following phone and email message:

    • Brenda Wright, Senior VP of Community Relations, +1 415-623-7738
    • Alfredo Pedroza, Director of California Local Government Relations, +1 415-396-0829
    • Ruben Pulido, Communications Staff, +1 415-852-1279
    • John Stumpf, CEO, +1 866-878-5865

     
    Sample message:
     
    To: brenda.wright@wellsfargo.com, alfredo.pedroza@wellsfargo.com, ruben.pulido@wellsfargo.com, john.g.stumpf@wellsfargo.com
    Cc: action@occupybernal.org
    Subject: Stop the Eviction of Bernetta Adolph!

    Dear Wells Fargo staff,

    Please stop the eviction of Bernetta Adolph at 48 Lobos Street in San Francisco, loan # 44793073 and rescind the foreclosure sale to offer Bernetta a fair deal loan modification so she can remain in her home. Bernetta is a disabled senior and retired San Francisco city employee who was a victim of loan modification scammers. She made several attempts to negotiate a loan modification with Wells Fargo prior to Wells’ auction of her home.

    Sincerely,

    Your name here

  2. Protest on Saturday afternoon, February 23, at a Wells Fargo branch: success! see http://occupytheauctions.org/wordpress/?p=8416

  3. Mark your calendar: Protest on Wednesday, February 27, at a Wells Fargo branch, as part of a nationwide day of action (more details TBA soon)

  4. Mark your calendar: Protest on Saturday, March 2, at the home of Wells Fargo Senior Vice President of Community Relations Brenda Wright (Update: postponed because Wells Fargo considering stopping eviction and rescinding sale of Bernetta Adolph’s home)

    Together we can stop predatory banks and help our neighbors!

Background

Bernetta has made several attempts to work with Wells Fargo. After her initial loan modification continued to be unaffordable, Bernetta became the victim of a loan modification scammers who ensured her that they could stop the foreclosure auction of her home. During this time, Bernetta continued to try to reach Wells Fargo to secure another modification. Wells Fargo foreclosed on her home and plans to evict her soon after March 2, 2013. She is a disable senior and a retired San Francisco city employee.

As #1 in foreclosures in San Francisco, Wells Fargo is putting 32 families at risk of losing their homes due to foreclosure and related evictions. 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: Stop the Foreclosures and Evictions of the “Wells 32″    Bernetta Testifying at San Francisco Employee Retirement System Meeting (fourth video)

For more info and updates: http://occupytheauctions.org/wordpress/?p=8384 or call Occupy Bernal at 415-483-9138.

ALERT: Wells Fargo – Stop the Auction of Alberto Del Rio’s Home!

Update as of February 4: Auctioneer Thomas of Lender Processing Services / Agency Sales and Posting (LPS/ASAP) sold 565 Banks Street back to lender Wells Fargo for $581,017.


Update as of January 31: Wells Fargo has postponed the auction of Alberto and his family’s home until February 4. Please keep the calls and emails coming to get Wells Fargo to cancel the auction and offer the family a fair deal loan modification so they can remain in their home.


ob.foreclosure.albertoPlease take action:

  1. Contact Wells Fargo staff with the following phone and email message:

    • Brenda Wright, Senior VP of Community Relations, +1 415-623-7738
    • Alfredo Pedroza, Director of California Local Government Relations, +1 415-396-0829
    • Ruben Pulido, Communications Staff, +1 415-852-1279
    • John Stumpf, CEO, +1 866-878-5865

     
    Sample message:
     
    To: brenda.wright@wellsfargo.com, alfredo.pedroza@wellsfargo.com, ruben.pulido@wellsfargo.com, john.g.stumpf@wellsfargo.com
    Cc: action@occupybernal.org
    Subject: Stop the Auction of Alberto Del Rio’s Home!

    Dear Wells Fargo staff,

    Postpone the auction of Alberto Del Rio’s home at 565 Banks St., San Francisco, loan # 47339080 (owner’s name is Gloria Lomeli) and offer the family a fair deal loan modification so they can remain in their home.

    Sincerely,

    Your name here

  2. Protest on THURSDAY, January 31, 1:45pm at CITY HALL (Van Ness side)

    Together we can stop predatory banks and help our neighbors!

    In the past few months we’ve stalled/stopped dozens of home auctions.

Background

Alberto Del Rio is a Bernal Heights resident who grew up in his family home. He lives there with his wife and 3 kids. To help his mother have a decent retirement, the Del Rio family took equity out of the home and refinanced. But their loan from World Savings was a Pick-a-Payment loan. Lawsuits have found these sorts of loans to be predatory. World Savings sold the loan to Wachovia, which was then acquired by Wells Fargo. “Wells took advantage of me like they did so many other people. They promised us the moon,” says Alberto, who has been trying to get a loan modification since 2000. The bank has continually lost his paperwork, and refused to negotiate in good faith. The bank even advised him to stop making payments in order to qualify for a loan modification, which triggered the foreclosure process. Alberto has been working hard and succeeded in raising his income so he can qualify for a fair deal loan modification. Now, Wells Fargo is scheduled to auction his home on January 31. But we won’t let them.

As #1 in foreclosures in San Francisco, Wells Fargo is putting 29 families at risk of losing their homes due to foreclosure and related evictions. 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: Stop the Foreclosures and Evictions of the “Wells 29″    Prior Auction Stopped (photos and videos)    Profile (old auction date)   

For more info and updates: http://occupytheauctions.org/wordpress/?p=8143 or call Occupy Bernal at 415-483-9138.

ALERT: Demand Chase Stop Auction of Baful Home

Update: JP Morgan Chase has postponed the foreclosure auction of the Baful home until March 1, 2013. Please continue the calls and emails to request cancellation of the auction and a fair deal loan modification so the Baful family can remain in their home.


acce.foreclosure.romeo-bafulJP Morgan Chase is planning to sell Romeo Baful’s home at a foreclosure auction on January 28, 2012.

Please take action to help Romeo, as well as his mother and his daughter:

  1. Call and email Chase with the following message:
    • Jamie Dimon, CEO, +1 212-270-1111
    • Peter Barker, California Chair, +1 888-342-6441

     
    Sample email:

    To: Jamie.Dimon@chase.com, executive.office@chase.com, peter.barker@chase.com
    Cc: action@occupytheauctions.org
    Subject: Stop Auction of Baful Home (Loan #1835186059)

    Please postpone the foreclosure auction of Romeo Baful’s home at 1352 Quesada Avenue in San Francisco (loan #1835186059) and offer him a fair deal loan modification. Romeo has lived for more than 20 years in the home he shares with his 82-year-old mother and 7-year-old daughter. A single father, he works part-time as a home care provider after getting laid off from his job due to budget cuts two years ago. In July, Chase approved a trial modification but, after several months payments, denied a permanent loan modification and set a date of January 28 to sell of the Baful home at a foreclosure auction.

    Sincerely,

    your name

  2. 9:00am on Monday, January 28, come protest at a Chase bank branch, Mission Street at 21st Street, San Francisco (please bring signs, banners, and whistles)
     
  3. 1:45pm on Monday, January 28, come protest at the foreclosure auction at City Hall, 400 Van Ness Ave, San Francisco (auction may start promptly at 2pm, please bring signs, banners, and whistles).

acce.foreclosure.romeo-baful-and-family

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=7496/