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Wells Fargo to be targeted by Denver protesters in week of actions "to restructure Wall Street"

wells fargo protest cropped.jpg
Update, below: Wells Fargo will be the target of several actions this week by the Colorado Progressive Coalition, including plans to "move in" to a branch on Thursday with lamps, pillows and coffee pots to protest the bank's high number of foreclosures. Dubbed the Mile High Showdown, the actions are accompanied by specific demands (read them below), which differentiates it from Occupy Denver.

The actions start this afternoon. According to Ben Hanna, organizing director for the Colorado Progressive Coalition, a group of labor leaders, clergy and homeowners will deliver a letter detailing its demands to the Wells Fargo branch at 1700 Broadway around 12:30 p.m. The group will ask that the letter be faxed to Wells Fargo president John Stumpf, Hanna says, "so we're clear about what our concerns are."

The Mile High Showdown is associated with a national campaign "to restructure Wall Street" called The New Bottom Line, which is demanding reform from three major banks: Wells Fargo, Bank of America and Chase. Of the three, Wells Fargo has the biggest presence in Colorado, which Hanna says is why activists here plan to target it.

"If Wells Fargo fails to come to its senses this afternoon and do all those things (in our letter), our communities will send a clear message that they can no longer use our money to foreclose on families and support deportations," Hanna says.

Wells Fargo is responsible for more foreclosures in Colorado than any other bank, Hanna says, and is also a major shareholder in the GEO immigrant detention center in Aurora, which has been the subject of previous protests.

Update, 2:33 p.m. October 24: Look below for photos and captions by Stephanie DeCamp from today's rally. That's followed by a rundown of what's planned for this week, courtesy of Hanna.

wells-fargo-denver-protest-1.jpg
Photo by Stephanie DeCamp
Ben Hanna, Colorado Progressive Coalition's Organizing Director (center), runs the group of protesters through the ground rules of entering the Wells Fargo Bank to deliver a list of demands.

wells-fargo-denver-protest-2.jpg
Photo by Stephanie DeCamp
Protesters are told to forego chanting and sings before entering. Security later thanked them for being "quiet and civil."



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Donna Vieira
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Wells Fargo lied in the past and is still lying right now. Wells Fargo not only originated fraudulent mortgage loan, sold its fraudulent mortgage loan as mortgage backed securities, wrongfully foreclosed home, but also falsified IRS forms to claim tax write-off. http://wellsfargomortgagefraud.com

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Just so I'm clear....you voluntarily took a loan out on a house that you probably shouldn't have to begin with.  You got yourself into debt with credit cards, and car loans, and lived paycheck to paycheck, saving nothing for a rainy day.  You put little or nothing down on the house and overpaid because a salesman talked you into it.  Your job status changed, you've lost the cars, the credit companies are calling you and now your really struggling to keep stuff going in the right direction.  Your answer is to FAX a document to the ceo telling him its his fault that all of this has happened to you, and you should be relieved of your obligation that you voluntarily signed.  Riiiiiiiight 

Have you tried, living within your means, working extra jobs (probably ones you don't like and that don't pay very well) so that you can maintain your integrity and take care of your financial responsibility?  yea didn't think so.  Thats silly talk.  Its the corporations fault you were living beyond your means.

TheRevolutionHasStarted
TheRevolutionHasStarted

Yea, they are trying to take my property as well. 

I started the loan modification process back in May.  There is now a fourth person working on my application who is again asking for the same documentation I have already submitted twice before.  I make payments when I can (I am currently unemployed), but am still receiving acceleration letters in the meantime (threatening to start foreclosure). 

Also, I have not received a statement for months.  I have not been able to access online statements for months, including for previous years. 

I opened a checking account just so I can have a paper trail of making payments and am forced to write my loan number on the check since I have no payment stub to go with the check.  Also, payments are not posting to my online account, but rather are sitting in "unapplied funds".

The games they play....

Robert Chase
Robert Chase

Nationalize Wells Fargo, Bank of America and Chase.

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