An effort designed to make The City’s pension fund divest its holdings with powerful San Francisco-based bank Wells Fargo fizzled Wednesday. Read More
This suspect was apparently weighed down by his criminal cravings.
A parolee was arrested Friday on suspicion of consuming $70 worth of food at a San Carlos sports bar and leaving without paying the bill, according to the San Mateo County Sheriff’s Office. Read More
This morning, homeowners and Occupiers in San Francisco, Oakland, and Los Angeles will descend upon their local Wells Fargo banks to announce their latest effort to purify the big bank. Read More
A group of protesters who said they are fighting to protect homeowners shut down a bank Thursday morning in the Bayview district.
The roughly 25 protesters shut down the Wells Fargo branch at 3801 Third St. about 11 a.m. as part of a day of action organized by the Alliance of Californians for Community Empowerment, the National Association for the Advancement of Colored People and Occupy Bernal. Read More
Nearly six months ago, the nation’s five largest loan providers — Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo — agreed to the $25 billion National Mortgage Settlement in response to the ongoing foreclosure crisis.
The terms of the settlement just went into full effect.
Thanks to California Attorney General Kamala Harris, almost half the settlement — $12 billion — was set aside for our state. Read More
The federal government has sued Wells Fargo in a New York court, accusing the nation's largest mortgage lender of misrepresenting the quality of thousands of loans in order to be eligible for federal loan insurance.
The lawsuit, filed Tuesday in federal court in Manhattan, seeks to recover "hundreds of millions of dollars" that the Federal Housing Administration paid out after borrowers defaulted on Wells Fargo mortgage loans. Read More
There are rumblings around town about a tech bubble like the one that burst following the dot-com boom in the late 1990s. Yet while tech growth in San Francisco has unquestionably fueled the economic recovery here, there is insufficient evidence to make the case for a bubble. Nonetheless, it is not too early to start thinking about what a bust could mean for the economy. Read More
The City’s ever-escalating housing and rental prices, already some of the highest in the state, will continue to grow and challenge San Franciscans and their leaders in the coming years, according to new projections from a Wells Fargo economist. Read More
Wells Fargo has agreed to pay $175 million to resolve allegations that the financial institution discriminated against qualified black and Hispanic borrowers in its mortgage lending, the U.S. Justice Department announced Thursday.
In the second-largest settlement of its kind, the biggest U.S. mortgage lender will pay $125 million to borrowers who were allegedly steered into higher-priced subprime loans or who paid higher fees and rates than white borrowers. Read More
The Occupy movement’s frenetic commemoration of May Day got plenty of attention as Bay Area demonstrators came out in droves to spread the message that income disparity has created a nationwide crisis. But fallout from the labor holiday could provoke backlash from otherwise supportive observers.
Click on the photo to see more photos from the protest. Read More