Thursday, September 19, 2019

SEN. DIANNE FEINSTEIN'S PREFERRED BRIBESTER CRIMINAL BANKSTERS WELLS FARGO FACES SUIT FOR PREDATOR LENDING - But isn't that all Wells Fargo does?

Leaving California to the Homeless

Donald Trump visited enemy territory this week.
He came out here to the deep blue state of California to raise a few million bucks at private fundraisers in Silicon Valley and Beverly Hills.
He also went down to the border with Mexico to inspect the wall the federal government is building to stop illegal immigration and protect what no longer deserves to be called the Golden State.
What the president couldn't see while he was out here were all the wealthy and productive Californians who are leaving this state in droves.
They are the people who are tired of being tortured by high state taxes and bad laws like the ones that prevent low-income housing from being built, or that make their electricity and gasoline so expensive.
They are the people who've watched the sidewalks of their great cities being turned into permanent tent communities for the poor, the homeless, the drugged and the mentally disturbed.
They are the tax base that has been footing the bill for the social welfare benefits and government services that are bestowed so generously on state citizens and illegal immigrants.
They have seen the grim future of their formerly great state and said to themselves, "We're outta' here."
But millions of Californians like me can't leave. We have kids and grandkids here.
We love the state and its people. We love the weather, the beaches, the deserts and the mountains.
What we don't love is what the Democrat Party and its policies have been doing for decades to harm California and its big cities.
The Democrats running this state almost act like they hate it. All they seem to want is more illegal immigrants, more crippling environmental laws and higher prices for everything.
The shocking TV images of huge homeless communities living in tents in Los Angeles and San Francisco are the most glaring sign of the Democrats' failure.
Even Democrats like Gov. Gavin Newsom agree that it has been state policies like strict building laws and environmental regulations that have created tens of thousands of homeless people.
Only let's please not call them "homeless people." It's a misnomer.
Most of the thousands of people you see on TV living in tents and sleeping bags are homeless by choice.
They're mostly drug addicts. Or mentally ill. Or bums or vagrants who've chosen to live on the street amid their own garbage, used drug needles and human waste.
They're also mostly males.
There are lots of genuinely homeless people in California who need assistance from government or private social agencies.
But they're usually women and children and they're usually living in shelters where they can get the help they need.
Shelters have rules you have to follow and homeless mothers and their kids will abide by them. Men won't.
We keep hearing that we need to build more low-income housing units for the homeless.
But the truth is, most of the men on the sidewalks of downtown L.A. wouldn't stay in a shelter if it was located in the penthouse of the Westin Bonaventure Hotel.
Half of the country's unsheltered homeless people live in California. LA Mayor Eric Garcetti wants President Trump to solve the state's homeless crisis.
But it's the responsibility of the Democrat-controlled state government, the Democrat governor and the Democrat mayors - the ones who created the crisis in the first place.
For California natives like me, it's a crying shame.
The most beautiful state in the U.S. has been wrecked by Democrats and it's only going to get worse as more illegal immigrants arrive from Mexico and Central America.
I'm afraid it's only a matter of time before the state runs out of money and the productive people who provide it. -

 California attorney general joins Oakland’s suit against Wells Fargo for predatory lending

 

The suit accuses the bank of steering minority borrowers toward high-cost, risky loans

 

 

By EMILY DERUY | ederuy@bayareanewsgroup.com | Bay Area News Group
California’s top cop is wading into a lawsuit against Wells Fargo alleging that the bank engaged in predatory mortgage lending.
Attorney General Xavier Becerra on Thursday announced he had filed an amicus brief in support of Oakland’s suit against the company, which accuses Wells Fargo of steering minority borrowers toward higher-risk, higher-cost loans than white borrowers.
“Equal access to housing starts with equal and fair access to our financial institutions,” Becerra said in a statement. “For many African-Americans and Latinos, the hardships of the mortgage crisis haven’t stopped. Our fight for economic justice continues and I’m proud to stand with the city of Oakland in this effort to combat predatory lending in our state.”
The case is before the U.S. Court of Appeals for the Ninth Circuit, where Wells Fargo wants a judge to dismiss the suit. The bank says it has been a fair lender and does not discriminate.
Originally filed by Oakland in 2015, the suit alleges that Wells Fargo violated the federal Fair Housing Act and the California Fair Employment and Housing Act and hurt the city by directing minority borrowers toward risky loans and refusing to allow many of them to refinance. Black and Latino borrowers, the suit says, were more than twice as likely to receive a bad loan than similar customers. Such practices, Oakland argued, hurt property values in minority communities, limited property tax revenue and raised the costs of providing city services.
“Wells Fargo’s racially discriminatory mortgage lending practices against African-Americans and Hispanics have devastated individuals, families, and communities in Oakland, throughout California, and across the country where Wells Fargo operates, dramatically increasing foreclosures and decreasing the Black and Latino middle class,” Oakland City Attorney Barbara Parker said in a statement.
“Evidence shows that Wells Fargo systematically provided more expensive and higher risk loans to African-American and Hispanic borrowers in Oakland and other cities who qualified for the more favorable loans that the bank offered to white borrowers,” Parker continued. “We applaud Attorney General Becerra for standing with Oakland to hold Wells Fargo accountable and stop these racially discriminatory practices.”
In the amicus brief, Becerra argued that the bank’s practices leave minority communities particularly vulnerable to foreclosures, which can have reverberating effects, from increased homelessness and a decline in physical and mental health for stressed borrowers to the deterioration of schools.
The bank has denied the accusations.
“We continue to disagree with the city’s accusations in this appeal and we are prepared to present strong arguments in support of our long history of fair and responsible lending in Oakland and across the country,” company spokesman Ruben Pulido said in an email on Thursday.
“Wells Fargo has been a part the Oakland community for more than 140 years and will continue our longstanding efforts to work with customers, credit counselors, nonprofit organizations and government agencies to expand homeownership and revitalize distressed neighborhoods. We will continue to focus on helping customers succeed financially and expanding homeownership in California and throughout the United States.”


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