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Thursday, February 23, 2012

Occupy Bernal Heights to "Auction" Home of Wells Fargo CEO

Posted By on Thu, Feb 23, 2012 at 9:00 AM

click to enlarge Now foreclosures are coming back to bite him
  • Now foreclosures are coming back to bite him

This weekend, San Francisco families are planning to descend on the front steps of Wells Fargo CEO John Stumpf's home to deliver a foreclosure notice of their own, and stage a mock auction to show the wealthy financier the same kind of humiliating treatment that local families have experienced, thanks to big banks.

Activists claim they have no other choice but pay him a visit -- their dozens of messages to Stumpf have gone completely ignored, and Wells Fargo has refused to negotiate in good faith with Bernal residents

to modify their home loans, despite clear evidence of "wrongdoing" by


Readers might recall that a recent report commissioned by the city

claimed that 84 percent of loan foreclosures contain multiple errors and violations, including felony crimes.

This reported only further motivated occupiers, who aside from Saturday's confrontation, will also demand the city impose a moratorium on home

auctions, pending public investigations into bank wrongdoing.

Here's what they want from Wells Fargo:

  • Stumpf to meet with the foreclosure victims -- now

  • An immediate moratorium on foreclosures, until a plan is developed to save homes

  • Wells Fargo to provide homeowners fair and affordable loan modifications with reductions in loan principals

According to Occupy

Bernal, more than 80 homeowners are in foreclosure right now and "do not have the luxury of waiting while

Wells Fargo continues to evict families illegally and sell their homes."

San Francisco foreclosures must stop now," the group said.

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About The Author

Erin Sherbert

Erin Sherbert

Erin Sherbert was the Online News Editor for SF Weekly from 2010 to 2015. She's a Texas native and has a closet full of cowboy boots to prove it.


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