Posted under Economy
Earlier, I wrote about a new lawsuit that alleges Wells Fargo systematically pushed African-Americans into subprime loans even when they qualified for a prime rate.
Tomorrow, the Baltimore Economic Crisis Response Network is organizing a protest of Wells Fargo. Some info from the organizers:
Where: Wells Fargo Home Financial Office. 1118 Light Street, Baltimore, MD 21230.
When: Thursday, June 11th, 4:30 p.m.
Why: Wells Fargo received $25 Billion in Federal funds as part of the banking bailout. Now they are refusing to extend credit to small businesses and refusing to work with homeowners to avoid foreclosures.
We will serve a “notice of default” to Wells Fargo for misusing taxpayer funds.
You can read more about the lawsuit against Wells Fargo at TPMmuckraker
One Response to “Wells Fargo Protest Tomorrow In Baltimore”
Charlie Cooper on 10 Jun 2009 at 2:50 pm #
We will also tell Wells Fargo to keep Quad City Die Casting Open! Stop Foreclosures!
Wells Fargo (which now own Wachovia) received $25 Billion in taxpayer funds as part of the bank bailout. Now they are refusing to extend a line of credit to Quad City Die Casting in Illinois which will cause the loss of 80 union jobs. The United Electrical Workers and Jobs With Justice will be protesting Wells Fargo in Chicago on Thursday, and we will be protesting in solidarity with them here in Baltimore.
For more information on Quad City Die Casting and UE: http://www.ueunion.org/uenewsupdates.html?news=480
Recent testimony presented in the Baltimore City lawsuit against Wells Fargo shows that the company engaged in racist predatory lending practices :
http://www.baltimoresun.com/news/local/baltimore_city/bal-md.wellsfargo04jun04,0,5155910.story
We demand that Wells Fargo work with homeowners to negotiate their mortgages and avoid foreclosures.
This protest has been organized by several individual members of the Baltimore Ecopnomic Crisis Response Network. If your group would like to endorse the demonstration, please contact aimee.pohl@gmail.com or charlie.coop@verizon.net