OnePittsburgh “celebrates” Wells Fargo’s 160th Birthday

Nearly 150,000 Pennsylvanians have been denied their legal privilege to an in person meeting with their mortgage lender. Until March 21st, Michelle Kohar was one of them.

Pennsylvania’s Act 91 requires mortgage lenders to give people whose homes they are foreclosing the chance to speak to the lender and work out a deal, but many banks illegally failed to do so and moved to foreclose without any meetings

OnePittsburgh and a group of activists descended on Shadyside to protest Wells Fargo’s unscrupulous practices such as “robo-signing” and foreclosing on homes, as in Michelle’s case, that have contributed significantly to the sad shape of our economy.

Not that Wells Fargo is hurting – the bank has received $43 Billion in bailout funds from taxpayers and have been able to dodge $17.9 Billion in taxes, even receiving $681 Million in tax refunds from the federal government. They paid the CEO almost 18 million and gave the guy in charge of mortgages an $8 million gift when he retired this year, for a job well done!

Wells Fargo refused to meet with Michelle at first, but our strength is in our numbers. Because there were more than 25 of us outside their office chanting, they finally set up an appointment for her to talk to someone. It is a small victory, but significant step towards justice for Michelle and the 99 percent


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