Memphis confronts WELLS FARGO's unethical practices

WHAT: Memphis confronts WELLS FARGO's unethical practices
WHEN: TUESDAY • OCTOBER 19th
TIME: 7:30am-9:00am
WHERE: Memphis Botanical Gardens
750 Cherry Road Memphis, TN.
... (meet up 7:15am at parking, service road off Cherry north of Botanic Gardens)


Wells Fargo bank in celebration of it's acquisition of Wachovia bank is hosting a "Community Event" on TUESDAY, October 19th at 7:30am-9:00am at the Memphis Botanical Gardens at 750 Cherry Road Memphis, TN. At this event WELLS FARGO will grant $48,000 to local nonprofit organizations in a shallow attempt to buy the goodwill of the people of Memphis as well as whitewash their actions in our community.

Join us Tuesday as we come to collect the $60,000 in back taxes, and unpaid fines and fees owed by WELLS FARGO to our community. This money is owed on 45 properties that they own or have foreclosed on, leaving families on the streets, and communities plagued by blight. If WELLS FARGO wants to have the good will of the people of Memphis and Shelby county then they must earn it by responsible and ethical actions not by hiding behind the good works of local non-profits.

You already know that over the past ten months the Mid-South Peace and Justice Center has been hard at work in researching the root causes and connections between social ills such as homelessness, blight, fires, home foreclosure and how these problems intersect and manifest in our communities. In this process we have observed how the predatory behavior of banks and lending institution like WELLS FARGO does not end with the distribution of sub-prime loans in African American neighborhoods, nor does it end with families put out on the streets via home foreclosure. These unethical actions extend further as vacant properties owned by banks are being left as open sores in all our neighborhoods. In addition all over our country there is a massive tide of cases with errors, forgeries, bogus documents to outright fraud in the foreclosure process. As of today Attorney General's offices from all 50 states have launched probes into these foreclosure irregularities and many banks and states have enacted a moratorium on foreclosures. WELLS FARGO has refused to halt foreclosures for this review.

Here in Memphis many bank owned properties in low income areas are unmaintained, unsecured and uncared for and become magnets for vermin, trash, fires and crime. To make matters worse many of these bank owned properties have years of unpaid back taxes and unpaid code fines. So not only are the the people of Memphis victimized by predatory lending and high rates of home foreclosure, but adding insult to injury WE ALL PAY for the results of predatory lending and lax management of bank owned property and pay higher taxes from increased fires, grass mowing, demolition costs and homeless services costs to cover for their lack of responsible action.

View a BlightWatch video of how Wells Fargo takes care of their properties here.
video

WHAT: Memphis confronts WELLS FARGO's unethical practices
WHEN: TUESDAY • OCTOBER 19th
TIME: 7:30am-9:00am
WHERE: Memphis Botanical Gardens
750 Cherry Road Memphis, TN.
(meet up 7:15am at parking, service road off Cherry north of Botanic Gardens)

*Any questions or if you'd like to volunteer to join us please contact us at 901-725-4990 or at brad@midsouthpeace.orgSee More

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