Action for the Common Good
Action for the Common Good is creating people-powered change, and they need your help. Please read below to learn more about the issues they're working on and how you can get involved. Thank you!
Attorney General Holder: You said no bank is "too big to jail". Prove it starting with Wells Fargo.$21.9 billion. That’s Wells Fargo’s profit for 2013. It’s their most ever.  And it’s coming off the backs of foreclosure victims and underwater homeowners like me. My name is Yolanda Andrews, and Wells Fargo bankers are trying to steal my home. That’s why I went to San Antonio, Texas on April 29th to directly confront Wells CEO John Stumpf and ask him to work with me to keep me in my home. I brought with me 6,000 signatures of people like you telling him to do the right thing. Then last week, on May 5th, U.S. Attorney General Eric Holder uttered words I’ve been waiting for him to say since Wall Street bankers destroyed our economy, foreclosed on 5 million families and kept 20% of homeowners underwater: “No bank is too big to jail.”   Losing your home hurts the same whether you are African American, Latino, Asian or white. But Wells Fargo has been investigated and paid multi-million dollar settlements for racial discrimination in lending and how it deals with foreclosed homes. Here’s why Wells Fargo and its CEO John Stumpf should be the poster children for proving there is no such thing as “Too Big to Jail”: Just two years ago it settled lawsuits by Memphis, TN and Baltimore, MD for a combined total of $607 million.  In 2013, the New York Attorney General sued Wells Fargo for systematically violating key servicing standards national $25 billion foreclosure settlement regarding loan modification practices.  Also in 2013, Wells Fargo settled a fair housing complaint with the U.S. Department of Housing and Urban Development for $39 million because it “maintained and marketed foreclosed properties in White areas are much better… than such properties … in African-American and Latino Neighborhoods.”  Two months ago, news reports show that in 2011 and 2012 Wells Fargo published an internal manual showing how to forge proof of ownership documents in foreclosure files.  And just last month, a report from the University of Minnesota shows that Wells Fargo systematically denied credit and refinancing of sub-prime mortgages to communities of color in the Twin Cities.  I’ve been fighting for an affordable loan modification from Wells Fargo for 5 years now – Wells Fargo’s last offer was for a $49 reduction – and it has impacted my health to the point where I can no longer get steady work. Earlier this year, they filed for foreclosure on my house. I’ve been on the receiving end of every kind of abuse Wells Fargo has admitted to and pledged to stop. We need to ensure that they live up to their word. Stand with me and demand Eric Holder live up to his own words and start prosecuting Wells Fargo.  http://dealbook.nytimes.com/2014/01/14/wells-fargo-4th-quarter-profit-rose-10-slightly-ahead-of-estimates/?_php=true&_type=blogs&_r=0  http://diversity.berkeley.edu/underwater-america-report  http://www.washingtonpost.com/business/economy/no-company-is-too-big-to-jail-holder-says-of-justice-dept-probes/2014/05/05/e133e49c-d45f-11e3-aae8-c2d44bd79778_story.html  http://money.cnn.com/2012/05/30/news/companies/wells-fargo-memphis/ and http://articles.baltimoresun.com/2012-07-12/news/bs-md-ci-wells-fargo-20120712_1_mike-heid-wells-fargo-home-mortgage-subprime-mortgages  http://www.ag.ny.gov/pdfs/NMS%20MOL.pdf  http://www.nationalfairhousing.org/Portals/33/News%20Release%20for%20NFHA%20Wells%20Fargo%20Complaint%20120410%20Pdf.pdf  http://nypost.com/2014/03/12/wells-fargo-made-up-on-demand-foreclosure-papers-plan-court-filing-charges/  http://www.law.umn.edu/metro/index.html18,706 of 20,000 SignaturesCreated by Yolanda Andrews
Tell Janet Yellen: No more Goldman Sachs at the Fed2015 has revealed serious problems with the presidential selection process for regional Federal Reserve Banks. First, Federal Reserve Banks rebuffed requests for transparency and public input. Then, vacancies at the Philadelphia and Dallas Federal Reserve Banks were both filled with individuals involved in their own selection. Now, with the Minneapolis Fed’s selection of Neel Kashkari, all three spots have been filled by former Goldman Sachs insiders, an outcome that undermines the Fed’s claim of independence from influence by major banks. Sign our petition now to demand Janet Yellen commit to reforming the presidential selection process by requiring that each regional Fed bank establish: 1. A public list of candidates being considered for the position of Reserve Bank president. 2. A town hall opportunity for the public to ask questions of the current Reserve Bank president and the chair of the board of directors that is leading the process. 3. A commitment to interviewing at least three candidates who are not Wall Street bankers for the position of Fed President.497 of 500 SignaturesCreated by Brian Kettenring