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Wed Apr 30, 2014, 07:12 AM

Wells Fargo blasted for 'predatory lending'

Wells Fargo & Co. may be holding its annual meetings outside its home turf in San Francisco of late, but the banking giant continues to attract controversy and protests no matter where it goes.

The bank's top brass were in San Antonio on Tuesday for the company's annual meeting, and although the event went smoothly, Wells Fargo still faced sharp questions over its mortgage practices.

About 40 people picketed outside a Wells Fargo branch a few miles away from the annual meeting. "Banks got bailed out; we got sold out," they chanted, holding "Stop Foreclosures" and "End Predatory Lending" signs.

"We're here because we want and demand accountability from Wells Fargo," said Lauren Rodriguez of the Texas Organizing Project, which she said fights for working families. "We won't accept anything less than an end to their predatory lending, abusive foreclosure practices and investments in private prisons."

snip

"No other bank has forgiven $8 billion," said Stumpf, who received $19.3 million in compensation last year.

Read More: http://www.sfgate.com/business/article/Wells-Fargo-blasted-for-predatory-lending-5440048.php

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Reply Wells Fargo blasted for 'predatory lending' (Original post)
Jesus Malverde Apr 2014 OP
pipoman Apr 2014 #1

Response to Jesus Malverde (Original post)

Wed Apr 30, 2014, 07:30 AM

1. Forgiven?

 

As in no debt write off on people's credit report? Not sent to collection? Not called repeatedly? And not prohibited from these things because of bankruptcy laws? Just "forgiven" from the goodness of their huge corporate hearts?...I think not...No, I suspect it is more "forgiven" after all of these things and more because of the blood/turnip result of predatory lending practices. ..

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