Occupiers To 'Auction' Wells Fargo CEO's Home

Activists in San Francisco say Wells Fargo CEO John Stumpf has left them no choice. Despite a recent report commissioned by the city that found that 84 percent of loan foreclosures contain multiple errors and violations, including felony crimes, Stumpf continually ignores their messages, and Wells Fargo refuses to negotiate in good faith with residents to modify their home loans. So the people...

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Activists in San Francisco say Wells Fargo CEO John Stumpf has left them no choice. Despite a recent report commissioned by the city that found that 84 percent of loan foreclosures contain multiple errors and violations, including felony crimes, Stumpf continually ignores their messages, and Wells Fargo refuses to negotiate in good faith with residents to modify their home loans. So the people of Bernal and San Francisco are going to meet at CEO Stumpf's home this Saturday, Feb.25th at 1:00 p.m. PST to foreclose on his home and auction it off.

The occupiers also plan to demand that 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.

No doubt there will be video, stay tuned.

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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