hoy en san francisco se enfocaron en el banco wells fargo.ilar niÑo nos cuenta por que y lo que respondio la institucion. take pkg take pkg 28:01out wells fargo hoy en san francisco decenas de personas se unieron en una protesta contra el banco wells fargo...lo acusan de tener intereses economicos en la industria de las prisiones en el pais, que dicen se beneficiaria de leyes anti-inmigrantes y un mayor numero de arrestos. cinthya munoz/organizacio n "causa justa" 15:57 estamos aqui para demandar a wells fargo que saque su dinero de companias que invierten en el encarcelamiento de la comunidad migrante como cca y el cgo group 16:05 li morales/organizaci on "orgullo en el trabajo" 13:47 sus inversiones combinadas en prisiones estan valoradas en mas de 120 millones de dolares 13:51 acciones como estas dicen que se repitieron en 13 ciudades del pais. la hicieron hoy en el dia en que entra en vigencia una ley en georgia la cual han comparado a la 1070 de arizona. 20:10 la ley de georgia va a resultar en mas gente detenida, arrestada y deportada y

we also have a lot of our wells fargo team members. they are here. they want to get to know you even more so that we can serve you better. tonight, i want to especially thank mayor lee and supervisor ross for holding this event. it is so exciting that we get a part to play with this. thank you very much, and, have the new year, everyone. enjoy your evening. thank you. [applause] >> thank you very much, and thank you to wells fargo for supporting this event. i would also like to support other sponsors. i'm going to name them. applied technology and science, at&t, of joe engineers inc., and i also want to thank everybody who helped this program. you know who you are. i cannot see it, but everyone who helped. a lot of people held this program. special thanks, of course, to mayor ed lee and his office. thank you all for helping us to put this together. please don't leave. i do not want to be accused of standing between you and the entertainment. the entertainment segment is going to start. we will have dances and songs, and after that, we will ask you to

next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential loan, i use the standard five c's of credit. the first one is character. what we are looking for is a minimum score around 640. we would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. if we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may be. it cannot be, i did not want to pay that payment any more. the second c, conditions. basically, how precise will the money be used? we are looking at a business plan. when you look at a business plan, that is just a start up. we are looking to see where there will be the need for lending. if you are an existing busi

wells fargo will pay an $85 million penalty but did not admit wrong doing. and some customers will now be getting compensation. >> reporter: debbie says she's been fighting with wells fargo for a loan modification. >> it's been really frustrating. they don't seem to want to work with us. >> wells fargo is the first lender to face a penalty by the federal reserve over a list of allegations that it steered potential prime borrowers into costly subprime loans and falsified income information and applications as a result of incentive pay and sales quotas and a lack of controls. anna is the leader of lions for california a group critical of wells fargo. >> $85 million is not enough what. we've lost in homes and our communities are suffer sog much. >> the $85 million penalty is spelled out in an agreement with the fed. the bank no longer operates the targeted loan unit and does not admit wrong doing. the wells fargo ceo issued a statement the alleged actions were committed by a relatively small group. and it's implementing processes that will identify and provide

wells fargo is very pleased to be here. wells fargo has a commitment to invest in the communities in which it has a presence. this is our headquarters city. wells fargo takes significant deposits in san francisco, and therefore, wishes to give back to the city. unlike rich, i always have to say that in my talks, but that is an important part of how we do our business. we are a financial institution. we could not invest in the city unless we had partners like tndc to work with. like everyone else, we are pleased there is a community organization that knows but they are doing. we feel comfortable with them. they are on solid ground financially, but they also know how to develop these particular types of rehabs which are actually very difficult to do. they have a very strong population that they manage and they do so with a great skill set. we are pleased to work with them. as mayor lee mentioned, these projects are of tremendous partnerships with many partners. this project would have never occurred, unless it was in san fran

this afternoon, basically saying that a lot of this was misguided at wells fargo. they say, quote, wells fargo serves as trustee and as such has no role in the foreclosure activities or maintenance of the property on sinbad avenue. now, we checked in out with the city of san jose. they confirm that the people responsible for this is bank of america. and i just got off the phone while we were in the recorded piece just now and bank of america down in southern california told me that they have been maintaining that property and that they did have a problem in july and it was only a matter of time before they would get to it again. they also confirmed the city fined them for some blight issues in the past. they say that they are going to send somebody over there again to that particular property and clean it up. they say they will do whatever they can to make sure that that property, you know, stays as it should. back to you. >> all right. len ramirez in san jose, thank you. >>> a major real estate website is taking steps tonight to crack down on the spike in online r

look at wells fargo. same story. and of course, at bank of america or citigroup they're down for the year. do you see that trend changing. >> we don't have any apples in the bank. the challenge we look for in the back half of the year is continuing problems. a lot of problems were overhang on the bank stocks are gone. worried about these capital levels. we know some of that. a lot of stocks -- yet the big issue out there is what's going on in europe and the contagion is endemnick these large financial institutions. until we get resolution, it's going to be tough for these stocks to outperform the market. >> susie: given that all of these stocks are down, and i understand what you're saying in terms of the global economy, are there buying opportunities here? >> there are. if you look at the valuations, all of these big financial institutions are trading at compelling valuations. the real issue for investors is which is a value, and which is a value trap. >> susie: which are i recommending? >> we like j.p. morgan and w

which explains wells fargo's short-lived spokesman sir owes-a-lot. (rapping) he likes big debts, and he can apply! you other brothers can't deny, when a banker walks in with an itty-bitty rate and a big loan in your face, you get sprung! [cheers and applause] but now, one man is standing up to wells fargo. and winning the fight, he is tonight's difference maker. [cheers and applause] ♪ for too many years, average homeowners have been powerless against big banks but if philadelphia, one man, patrick rogers fought back and actually foreclosed on the foreclosers as we learned from cnn's don lemon. >> thank you for joining us. you are becoming a folk hero among homeowners especially those stresd about paying their mortgages. there's been some resident resolution to this case, hadn't there? >> there has. >> stephen: does he have fangs? oh, my god he's not a difference maker he's a vampire. this story got good. go get 'em don. >> you are a hero to a lot of people and thank you for coming on. >> stephen: what? no -- don, ask him about being a vampire. do yo

cinthya munoz/organizacio n "causa justa" 15:57 estamos aqui para demandar a wells fargo que saque su dinero de companias que invierten en el encarcelamiento de la comunidad migrante como cca y el cgo group 16:05 li morales/organizaci on "orgullo en el trabajo" 13:47 sus inversiones combinadas en prisiones estan valoradas en mas de 120 millones de dolares 13:51 acciones como estas dicen que se repitieron en 13 ciudades del pais. la hicieron hoy en el dia en que entra en vigencia una ley en georgia la cual han comparado a la 1070 de arizona. 20:10 la ley de georgia va a resultar en mas gente detenida, arrestada y deportada y esto en las detenciones y en los encarcelamientos es donde ganan estas corporaciones 20:20 gfx el banco wells fargo fue enfatico en decir que no posee acciones en las companias mencionadas, pero que como parte de sus servicios pueden hacer inversiones de parte de un cliente... y asi "puede dar la impresion erronea de que wells fargo es un propietario de acciones de una compania" 29:44 algunos de estos manifestatnes dijeron que para demostrar que su inconformismo es

a group has been critical of wells fargo. >> $85 million is not enough. what we have our community is suffering so much. >> the $85 million penalty is spelled out in an agreement with the fed. the bank do no longer operates the targeted loan unit. they issued a statement that the alleged actions was committed by a relatively small group. it is implementing processes that will identify customers that were harmed. >> up to 10,000 borrowers may be available for compensation but taking out their loans between 2004 and 2008. >> contacting the customers will be submitted in 90 days. >> if you are interested in the settlement. go to our website at abc7news.com and look under see it on tv. >> 4:46. deal or no deal. congress and the white house take one step forward and two back in talks to avert a national debt default. >> new gear. >> one thing lack of sleep can make you focus on.3q lysol believes your family should never have to touch a germy pump again. so we developed the new stainless look no touch handsoap system. our lysol no touch handsoap system automati

the fed says wells fargo falsified income information with the borrower's knowledge. up to 10,000 people could be eligible to get back 1,000s skpdz $20,000, wells fargo says it terminated a small group responsible for alleged actions and it's working to strengthen it's internal control autos thousands of homeowners, maybe you, will be getting refunds for thee fees they he paid to save their homes. >> seems like banks are rebating money left and right. if you had a home loan serviced by country wide financial you may have money coming to you. more than 450,000 former countrywide customers will be receiving refunds together worth $108 million. the ftc says countrywide was charging excessive fees to homeowners struggling to keep their homes. they were for services such as landscaping and property inspection. now, customers will get refunds from a few hundred dollars to thousands of dollars each. if you want to inquire about the refunds there is a link that you need. just go to abc 7 news.com. if have you a problem with your credit card company there is a new place to tur

shame on wells fargo. if they don't work with me, me and my three children will be out on the street. >> if you think you have been victimized here we have on our website. can again on go to abc7.com and click on see it on tv. >>> for 98 days two tribes held a prayer vigil in the glen cove area to keep the city from putting up rest rooms and a parking lot. they say it has been used for 35 years as a gathering place. it gives the tribes a bigger voice in future decisions that affect their land. >> parking problem could prevent planned parenthood from opening a women's health clinic in redwood city. the dispute involves the proposed clinic on el camino real and threats of protests. >> planned parent hhood wants to start a clinic here in the empty offense building on the 2800 block of el camino. but redwood city told the agency it needs more parking spaces. >> we are requiring 27 total. and the site only has 18 spaces. >> planned parenthood saysar rs the street agreed to lease them the additional nine spaces.

los activistas dicen que recogieron la basura de una de las casas embargadas por wells fargo...o.t. ana guardado/alliance for community empowerment 7:29:00 las casas quedan abandonadas y el problema más grande es que es que las comunidades se ven más sucias.. los activistas dicen que los embargos conllevan al abandono de casas por parte de los bancos, y eso arruina los vecindarios.. s.o.t. 8:05:00 hacen prostitución ellas, vandalismo, las casas de los vecinos se bajan de precio, es un desastre. esta vecina coincide con las quejas.. s.o.t. 'maria' 25:55:00 lo que yo digo es si el banco tienen mucho dinero porque no viene y limpia esa casa y le da otro modo vista porque la casa está peor que cuando vivian ahi las personas.. en un comunicado escrito, wells fargo dijo que ellos solo eran el fideicomisario de esta casa en particular, y que el responsable del embargo y mantenimiento es banco de amrica.. bank of america lo confirm y dijo que solucionan este tipo de asuntos en 48 horas. de hecho el viernes, la ciudad mult a banco de america con mil dlares por desatender esta casa. s.o.

i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certi

now, this afternoon, wells fargo did issue a statement to us saying that wells fargo serves as trusteend as such has no role in the foreclosure activities or maintenance of the property on sinbad avenue. >> reporter: we also got a late phone call today from bank of america, which owns the property, and says that they will be doing everything they can to fix whatever is wrong over there, mow the lawns, take care of that property as it should. dana, this is a big problem not only here in san jose but in neighborhoods all over the bay area because those homes sit vacant, people get into them, there's been reports of crime, prostitution, things like that, going on in those neighborhoods. and nobody wants to live near that. >> neighbors are fed up. len, thank you so much. >>> trash from san francisco could soon be dumped in yuba county. the board of supervisors approved a $112 million contract with landfill owner recology. beginning in 2015, trash will be hauled by train to wheatland. supporters say the deal could save city residents $100 million over 10 years. opponents call it a sweethear

wells fargo has agreed to pay but has not admitted to wrong doing. up to 10,000 borrowers were affected. it will get between $1,000 and $20,000 apiece. now for the rest of our news before the bell on this thursday morning let's check in with cnbc's nicole lapin. good morning. >> hey, great to see you this morning. futures a little lower, flat, but that's due to some of the intel effect we saw. they reported good earnings last night but cut the forecast on the pc market this year. intel supplies chips for 80% of the world's pcs so it's important. stocks fell as investors took a breather from tuesday's rally amid the jitters not only about debt issues but also in europe. this morning in about 15 minutes we get big data on unemployment, weekly jobless claims, it's important this week because it is the last read for the month. we also are looking to a lot of big earnings, at&t, morgan stanley. just to recap from yesterday dow fell 15 points, 12,571, the nasdaq lost steam off 12 to 2814. also, americans may spend less on back-to-school shopping. the the n

we have jeff from wells fargo. you are still with us, right? come on out here. we have peter from green apple books. where is peter? peter, come on up here. these are also the employers working with the city, working with our supervisors, all of them, to make sure they do the best enjoying our efforts. even when we do these, it has been public/private partnerships that actually keep and maintain this. i want to be your with everybody to announce that we have already been working on how we can fund more of these, so with the jfk route that we wrote this morning, recreation and park and mta have been working with our transportation authority through the board of supervisors, and they found a grant that would immediately allow them to plan for the jfk route to be implemented. by the end of this year, mta and rec and park will have a dedicated bike lane on the jfk drive by the end of this year. [applause] that is a really great announcement, and we will have more of them. that is just a first, and i think a number of announcements we will try to make and continue to

. >> and wells fargo grease to record fines for steering fwriors high-priced loans they couldn't afford. >> and new screening equipment coming to u.s. airports intending to keep your privates intending to keep your privates private. i ate breakfast and got heartburn, third day this week. so i took my heartburn pill and some antacids. we're having mexican tonight, so another pill then? unless we eat later, then pill later? if i get a snack now, pill now? skip the snack, pill later... late dinner, pill now? aghh i've got heartburn in my head. [ male announcer ] stop the madness of treating frequent heartburn. it's simple with prilosec otc. one pill a day. twenty-four hours. zero heartburn. no heartburn in the first place. great. >> closed captioning brought to you by mancini sleepworld. >>> air travelers will find security cameras to allow more privacy. there will be software installed that will prevent people from seeing through the clothing. security screeners will see an outline of bodies. privacy advocates are still concerned but security officials say they shouldn't be. >> the new so