On Feb. 28, 2003, Minnesota ACORN members protested the predatory lending of Wells Fargo.

Predatory lending means imposing unfair and abusive loan terms on borrowers, often through aggressive sales tactics, taking advantage of borrowers' lack of understanding of extremely complicated transactions, and outright deception.  Predatory loans turn the dream of homeownership into a nightmare, in the worst instances ending in foreclosure.  The damage done by Wells Fargo and other predatory lenders is increased by the fact that predatory loans are made in such concentrated volume in poor and minority neighborhoods where better loans are not readily available, and the loss of equity, and foreclosure can devastate already fragile communities.  ACORN is campaigning to stop these abuses by promoting legislation and regulation, putting pressure on particular offenders, and education and outreach.

Minnesota Grandmother Sits-in to Save House - Friday 31. of October
On October 15, Minnesota ACORN member and grandmother Denise Brantley was arrested for trespassing as she and other ACORN members staged a sit-in to reclaim the home she lost through a foreclosure rescue scam. The action was part of Minnesota’s ongoing Foreclosure Rescue Scam Campaign. Following a h... By Becky Gomer, 31-10-03 11:32 Category: Predatory Lending
Boston, Maryland and DC Protest Wells Fargo - Friday 31. of October
ACORN offices in the Northeast are taking action against Wells Fargo to spotlight the lender’s predatory practices. On October 21, Boston ACORN members, State Senator Dianne Wilkerson and City Councilors Chuck Turner and Felix Arroyo held a press conference at the home of Wells Fargo borrower Monica... By Lisa Donner, 31-10-03 11:19 Category: Predatory Lending
ACORN Submits Comments Opposing OCC Plan to Pre-empt Local Predatory Lending Laws - Thursday 16. of October
On October 6, ACORN submitted comments criticizing a proposal by the Office of the Comptroller of the Currency (OCC) that would exempt national banks and their operating subsidiaries from all state predatory lending laws. ACORN President Maude Hurd responded to the OCC's proposal, saying that "the p... By Lisa Donner, 16-10-03 04:21 Category: Predatory Lending
Oakland Anti-Predatory Lending Law Upheld - Tuesday 30. of September
On September 17, California’s 1st District Court of Appeals upheld the Oakland anti-predatory lending law that was passed in 2001 through a campaign spearheaded by ACORN. One of the strongest laws in the country, the Oakland ordinance was challenged in court by the American Financial Services Associ... By Lisa Donner, 30-09-03 11:27 Category: Predatory Lending
Minnesota Takes Action On Foreclosure Rescue Scam Operations - Tuesday 30. of September
On September 13, Minnesota ACORN members “foreclosed” on the home of one of the worst offenders of foreclosure rescue scams, Hendrie Grant from Grant Holdings. The action was part of Minnesota’s Foreclosure Rescue Scam Campaign, which is organizing to stop operations like Grant who promise to save p... By Minnesota ACORN, 30-09-03 11:24 Category: Predatory Lending
Mass. Holds Legislative Forum - Wednesday 6. of August
On July 28, Massachusetts ACORN held a legislative forum attended by 125 ACORN members, one state Senator, two state Representatives, two City Councilors, and an aide to Speaker of the House Thomas Finneran. ACORN members spoke in support of a state bill against predatory lending, a bill to allow im... By Lisa Clauson, 6-08-03 06:00 Category: Predatory Lending
Minnesota Takes on Foreclosure Rescue Scams - Wednesday 6. of August
Minnesota ACORN is working to put a stop to foreclosure rescue scams perpetrated by Equistar Real Estate, Grant Holdings, and other companies. These companies offer to buy the homes of borrowers facing foreclosure and sell them back, but the companies then rent the houses back on terms so steep that... By Becky Gomer, 6-08-03 06:00 Category: Predatory Lending
Minneapolis Holds Hearing on Predatory Lending Ordinance - Thursday 24. of July
A Minneapolis City Council committee held hearings this month on a proposed anti-predatory lending ordinance. ACORN members testified in support of a strong ordinance to protect homeowners. One member who testified is facing foreclosure and the imminent loss of her house to predatory lending. When A... By Becky Gomer, 24-07-03 06:00 Category: Predatory Lending
Pittsburgh Hearing on Predatory Lending Attended by Secretary of Banking - Thursday 24. of July
On July 21 in Pittsburgh, ACORN members held a public forum on predatory lending together with a coalition of groups brought together by ACORN from Allegheny and Beaver Counties. Pennsylvania Secretary of Banking A. William Schenck spoke in support of ACORN's work and the need to stop predatory lend... By Maryellen Hayden, 24-07-03 06:00 Category: Predatory Lending
Pennsylvania Launches Campaign for Anti-Predatory Lending Law - Wednesday 25. of June
On June 19, Pennsylvania ACORN held a 100-person "Stop the Sharks" rally in Philadelphia to kick off a campaign for state legislation against predatory lending. ACORN members chanted and waved banners and flags. ACORN member Karen Beltman testified powerfully about the predatory loan she had receive... By Ali Kronley, 25-06-03 06:00 Category: Predatory Lending
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