i am told over eight of them are wells fargo. i think the city should be applauded for its decision to take action against the banks, many of which have yet to face anything for what they have done in terms of negligence and illegal actions on their part. i think they should be lauded and i hope the city of san francisco would also be willing to say not only is it important to have safe, sound, business practices but it is important to invest in the city. i do not mean just sending a check to the nonprofit, taking care of the citizens in their homes and jobs and helping to stimulate the economy in san francisco. thank you. >> good afternoon. i am the political action chair for sau local 1021. rarely do we get the opportunity to overview process that has such a gigantic relationship to the rest of our economy. we have been paying for the economy. when we lose our services and as workers when we have to give up to protect some services. there is a little we can do here at the county level to address the economic crash. we have to d

i want to thank wells fargo for your leadership. they understand the issues that our city has, certainly in the southeast neighborhoods where we have had a record number of foreclosures, in part, driven by the lack of small businesses and the ability to get loans. many of us that the board of supervisors want to ensure this program gets as big as possible. i want to thank the mayor for your commitment. i hope in the term we are serving together, we figure out how to surpass the $5 million number. if we look to get this through the board as quickly as possible and eating many more soul food breakfasts at places like brenda's. [applause] >> thank you. the last time i was at an event for the revolving loan fund was in my district at a place called mission cheese. it is a very successful small business and i understand it is repaying its loan. this is one of those programs where you can invest a small amount of money and get a big bang for your buck. i also want to compliment the mayor and the full board. lots of time you hear politicia

[applause] >> for encouraging wells fargo to do what's right. and of course all the volunteers who make a difference every day on aids walks, aids hotlines, delivering meals or working here in the grove. i could go on and on. but let me leave you with this. as henry wells said, we have accomplished much, as we do render good. perhaps in the not too distant future we can return here to the national aids memorial grove. we can return to this very spot and celebrate all that we did to stop h.i.v. and aids and celebrate a cure. we are not alone amidst these trees and in the warm embrace of this grove, together we have, we can, and we are making a difference. it's a pleasure to be here. thank you. [applause] >> thank you, martin. as i conveyed in my remarks a few minutes ago, were it not for the courageous leadership and the risk-taking ability of the community that we live in, the city and county of san francisco, not only would we not have this space, but we would not have perhaps a national memorial to h.i.v. and aids. it's a unique relationship t

in case you did not know, wells fargo is 160 years old this week. we are still the largest and oldest financial company here in the city. san francisco has special meaning for us. i have to tell you, i was at the mayor's inauguration and he said he would never stop using the words job and job creation. that is what this is about today. we have given $431,000 to the revolving loan fund at below market rate. for 160 years, we have helped businesses thrive, through the gold rush days, through the technology boom, and now through the economic recovery, especially here in the bay area. we know when we revitalizes small businesses, we create jobs. and that is what we need here. that is what this partnership is all about. if we do not have successful communities, we know we cannot be a successful corporation. it is with great pleasure that wells fargo partners with the city. we are also good partners with working solutions, have done many things with them. we are so happy they are involved in this partnership. we, at wells fargo dedicated to partner with t

. >> i would like to introduce the senior haven't of wells fargo bank. the relationship this memorial has with wells fargo bank goes back many years. this event today would not have been possible without the support of wells fargo bank. wells fargo has shown a commitment not only to the national aids memorial grove and many other h.i.v. and non-profits, but also to the community as a whole. wells fargo bank, year in and year out, is a leader in philanthropic agencies and individuals in need. help me in welcoming to the stage, martin. [applause] >> thank you, john. good morning. i am with wells fargo community bank, and i am very pleased to be with you here today. on behalf of our team members in the san francisco bay area, wells fargo is proud for the eighth consecutive year to be the lead sponsor for this world aids day effort. our lives are not measured by the number of years or days we exist, but by what we accomplish while we live. and the good we make render. these words, spoken in 1875 by one of our company founders, -- co-founders, henry wells, ar

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

and wells fargo was one of them. >> reporter: wells fargo' contract with the city of berkeley is up this year so one council member proposed reconsidering. the council approved unanimously. they have $300 million in the bank. >> i think we'll do business with a bank that safeguards the city's assets with a good track record of investing in our community. >> reporter: wells fargo declined a request for an interview on the subject. >> we will actively bid on this account. >> reporter: mechanics bank is headquartered in richmond much smaller than wells but community-based. wells fargo isn't active in local charities and such. >> wells can always write a bigger check than mechanics bank can write but where mechanics bank steps up to the plate is we are involved in all the activities. we're in the local nonprofits, we're on boards, we're in associations. >> reporter: sometimes bigger is better. "occupy oakland" just days after busting windows at a wells branch deposited a $20,000 check in wells fargo! it said it could get to its money faster with a big bank than a small one. >> it is conceiva

he talked about the diversified businesses of wells fargo.doesn't have to think. >> do you want to sing the song? >> i don't want to ruin your ratings. it's an iconic symbol. seventh or eighth oldest brand in the country still in the same business. >> wells fargo's stagecoach. >> like a great clint eastwood movie or something. >>> when we come back, we'll get final thoughts from our guest host today, wells fargo ceo john stumpf. "squawk box" is coming right back. ♪ our machines help identify early stages of cancer and it's something that we're extremely proud of. you see someone who is saved because of this technology, you know that the things that you do in your life, matter. if i did have an opportunity to meet a cancer survivor, i'm sure i could take something positive away from that. [ jocelyn ] my name is jocelyn, and i'm a cancer survivor. [ mimi ] i had cancer. i have no evidence of disease now. [ erica ] i would love to meet the people that made the machines. i had such an amazing group of doctors and nurses, it would just make such a

supplementing that, the wells fargo fund. the payments from the small business loan program of $77,000, giving the sum total of 1 million [unintelligible] that amount, 15%, would go in as the administrative fee. giving the available capital. a couple of things to highlight about this recapitalization, the bells fargo funds are actually restricted funds. they are only targeted to the southeast sector of san francisco. they would not be available city-wide. this is a public-private agreement between wells fargo and the city to target the underserved neighborhoods. also, the wells fargo fund is a loan to the city that requires repayment. after the initial loans are made, in five years they would have to be repaid to wells fargo. regarding the administrative fee, this is a onetime fee. they will be not only administering the revolving loan fund, they would include technical assistance to all of the borrowers and applicants before, during, and after the loan is made. this would be for a term of five years and, pretty much in perpe

doing business with wells fargo since 2004. the multimillion dollar account could switch to a small community institution such as mechanics bank. >>> a boy accused of killing his parents is back in court today. moses kamin is charges with killing his parents. the district attorney says the teen was having trouble at school and argued with his mother before strangling her to death. authorities say the teen also strangled his father. >> moses came and was waiting for him in the dark. when he came in he grabbed him from behind. i believed the father never saw him. >> police say the teen put his parents bodies in the family car and tried to set it on fire. the teen is expected to assign a lawyer in court today and could enter a plea. >>> richmond police are asking people to come forward for who witnessed a brutal attack on an 80-year-old woman. police say she was sexual assaulted brutally beaten. she lives at an assisted living home and was out for a routine walk when she was attacked. >>> a strike involving kaiser health care empl

take pkg take pkg esparcieron las cenizas en frente a las oficinas principales del banco wells fargo san francisco.cenizas que representan arrepentimien to segn estos clerigos. y eso es lo que le estan pidiendo a los bancos. padre jose lucero/iglesia corpus christi 15:03 la temporada de cuaresma nos ayuda a cambiar lo de adentro y pedimos que wells fargo y otros bancos cambian del error que estan haciendo para nuestro pueblo 15:14 entregaron una carta al presidente del banco wells fargo donde le piden un alto inmediato a las ejecuciones hipotecarias. .esto a la luz del reciente reporte del registrador de san francisco, que encontro irregularidad es en mas de 80 por ciento de los embargos que se realizaron en la ciudad. reverenda gloria del castillo/iglesia del buen samaritano 18:42 lo primero es eso, una moratoria en los embargos que se estan haciendo y luego estamos pidiendo que reevaluen y vean como refinanciar estas casas de acuerdo al precio real de las casas para que las personas puedan afrontar pagar 18:57 la carta es firmada por sacerdotes y miembros de diferentes congregacion

a new deal has wells fargo making a new effort to help her make those steep housing payments. gil diaz now with the group who rallied in her defense. >>> reporter: in the last- minute phone call an attorney with fannie mae delivered the news to monica that she could stay in her foreclosed home for another two weeks. >> what she said is during this two-week process, they are going to look into wells fargo's claims that they want to stand by the agreement that they offered me. >> reporter: that agreement was a forbearance agreement that monica and wells fargo made on june 27, 2011. but monica found out a day later that her house in san francisco's excelsior district was put on the auction block. monica says there was a snafu in the paperwork. members of ace, which stands for alliance of californians for community empowerment were readystand behind her and keep sheriff's deputies from change locks today. >> this does not make any sense to continue what they are doing, what the banks are doing. putting families out of their homes that they worked hard for. >> reporter: a wells far

they want to pull it from the downtown wells fargo bank. he says he is authoring the proposal in response to the bank's role in the housing crisis that sent the economy spiraling. >> i feel this is one way in which we can make a statement and push for changes to promote the better banking practices and more equity in the society. >> but wells fargo says over the past three years wells fargo has donated more than $3 million to 89 non-profits in berkeley, and less than 2% of homeowner occupied loans in our servicing port folio have proceeded to foreclosure sale. the council wants to put its money in community banks or credit unions, but they need to know if they can handle a city the size of berkeley. >> it is possible for community banks to handle the business of the city of berkeley. >> the senior vice president points out that not all of them can offer the payment collections, the revenue sharing and the sophisticated money transfers. >> they have to be collateral liesed for the bank. we have to hold collateral. the fdic insurance is not e

they want to pull it from the downtown wells fargo bank. he says he is authoring the proposal in response to the bank's role in the housing crisis that sent the economy spiraling. >> i feel this is one way in which we can make a statement and push for changes to promote the better banking practices and more equity in the society. >> but wells fargo says over the past three years wells fargo has donated more than $3 million to 89 non-profits in berkeley, and less than 2% of homeowner occupied loans in our servicing port folio have proceeded to foreclosure sale. the council wants to put its money in community banks or credit unions, but they need to know if they can handle a city the size of berkeley. >> it is possible for community banks to handle the business of the city of berkeley. >> the senior vice president points out that not all of them can offer the payment collections, the revenue sharing and the sophisticated money transfers. >> they have to be collateral liesed for the bank. we have to hold collateral. the insurance is not enough

quienes tengan prestamos hipotecarios con una de estas cinco entidades: take gfx banco de america, wells fargo, jpmorgan chase, citygroup y ally financial dueÑa de gmac... jacqueline marcelos/consejer a de vivienda meda 1:55 las personas que tienen prestamos que los duenos de este prestamo se freddie mac o fannie mae no pueden calificar para esto, ellos tienen que continuar con los programas del gobierno 2:05 duenos de casa emproblemados con sus prestamos como maria, podran recibir modificacione s de sus hipotecas, reduccion de los intereses e incluso de los balances como parte del acuerdo...eso es lo que necesita maria... maria villarreal/busca una modificacion de wells fargo 29:20 no duermo no tengo paz no tengo tranquilidad ni mi esposo ni mis hijos ni yo ha sido una cosa bien bien terrible para nosotros 29:30 ella tiene su prestamo con wells fargo, y potencialment e se podria beneficiar, pero esta lejos de celebrar. 29:50 han prometido tantas cosas pero nunca se han cumplido 29:52 30:05 pues la verdad hasta no ver la realidad hasta entonces yo me voy a poner contenta 30:09 para las persona

maria villarreal/busca una modificacion de wells fargo 29:20 no duermo no tengo paz no tengo tranquilidad hijos ni yo ha sido una cosa bien bien terrible para nosotros 29:30 ella tiene su prestamo con wells fargo, y potencialment e se podria beneficiar, pero esta lejos de celebrar. 29:50 han prometido tantas cosas pero nunca se han cumplido 29:52 30:05 pues la verdad hasta no ver la realidad hasta entonces yo me voy a poner contenta 30:09 para las personas que ya perdieron su casa, si esto ocurrio entre septiembre de 2008 y el final del 2011, el acuerdo establece darles un restitucion de mil quinientos a dos mil dolares. kevin stein/coalicion para la reinversion en california. 15:46 it;s almost el monto es tan pequeno que es casi un insulto para la gente, pero ese es el acuerdo. kevin stein de la coalicion para la reinversion en california explico que la mayor parte de los beneficiados con el acuerdo judicial estan en esta categoria, por lo que lo consideran un avance pero limitado, 12:57 to keep pressure. una de las cosas que mas necesitamos es seguir presionando a freddie mac y fannie m

we did get a response from wells fargo. their response said in part: "the unfortunate reality is some customers are in homes they cannot afford even with substantially reduced payments we make every attempt to avoid foreclosure." certainly not enough for sfop. members say they've convinced members of their variety of churches to withdraw their money from wells fargo to date that has amounted to 10 million dollars if the demonstration doesn't get the attention of executives maybe something like that would. at least that is their hope. terry mcsweeney, abc7 news. >>> today the government's new consumer watchdog agency launched an investigation into the overdraft fees that banks charge. consumer bureau will ask banks for more detailed information about how the fees affect consumers how overdraft protection is marketed and what information consumers receive. overdraft fees account for 30 billion dollars in annual revenue for banks the investigation could result in new rules even lawsuits if regulators determine the banks are vi

wells fargo invested almost $100 million in cca and -- combined. those two groups are responsible for stopping immigration reform that is needed. we would like to ask in coalition with the other groups that are here today, pushing for this municipal bank that the board of supervisors not only make sure our money is one of a% safe but our communities are 100% safe and we're investing in institutions that will protect the rights we have to stay in the city. thank you. >> supervisors, i am with the california reinvestment coalition. one thing that is clear to provide some context is the public is frustrated and angry with financial institutions as a result of the kind of non- responsiveness we have heard others testified to today. as you know, these kind of efforts to do something about it are happening throughout the state. i want to commend supervisor avalos and treasurer cisneros for working to bring and neck -- a mechanism to bring some accountability at the local level. one added benefit of this approach is that by having financial institutions a

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

. >> we think he it's time for wells fargo to take responsibility for the damage that they have done. >> clergy from many disciplines gathered in front of a san francisco wells fargo on this ash wednesday in response to a report on city foreclosures. the audit showed that 83% of the foreclosures studied were in violation of at least one state law. the religious leaders came with a big jar of ashes to sprinkle in front of the bank because they want wells fargo and other major lending institutions to repent. they're demanding an immediate freeze on foreclosures until a full investigation is completed. >>> a san francisco homeowner got good news this morning about eviction proceedings against her. >> thank you. >> as supporters rallied around her, monica kenny received a fall from nan fannie mae saying the agency was delaying her eviction for two weeks. that's so they can look into reportses that wells fargo is willing to restructure her loan to avoid foreclosure. kenny lost her job two years ago and was scheduled for eviction today. >> there are people that you can go to. there are peop

we are stepping up and announcing today, with the help of wells fargo bank, joining us with our moneyo do a public- private relationship, continuing a very successful effort of working solutions to lead this effort. we are announcing it today at a very successful business, brenda's, introducing to the board and $1.5 million revolving loan program as the first part of our way to the $5 million. i know it is good news, but something we have to do. we need to replenish this program. the city will put up $1 million. the other $430,000 will come from wells fargo, with their target to be the southeast corridor, a san bruno, our mission, third street corridor, and the likes. they have always been very strong in helping out distressed areas. those are distressed areas. they have historically been. i want to personally thank wells fargo for putting up this money and joining us in this effort to focus on our small businesses. it has been part of their tradition to help out. they have always done so, but they have taken the opportunity to join us. when brenda located herself here back in 2005 --

we did get a response from wells fargo. their response said in part: "the unfortunate reality is some customers are in homes they cannot afford even with substantially reduced payments we make every attempt to avoid foreclosure." certainly not enough for sfop. members say they've convinced members of their variety of churches to withdraw their money from wells fargo to date that has amounted to 10 million dollars if the demonstration doesn't get the attention of executives maybe something like that would. at least that is their hope. terry mcsweeney abc7 news. >>> today the government's new consumer watchdog agency launched an investigation into the overdraft fees that banks charge. consumer bureau will ask banks for more detailed information about how the fees affect consumers how overdraft protection is marketed and what information consumers receive. overdraft fees account for 30 billion dollars in annual revenue for banks the investigation could result in new rules even lawsuits if regulators determine the banks are vio

to invest in wells fargo, jim? >> i think wells fargo is a fantastically undervalued situation. i cannot believe the stock is at 30. i was telling someone literally that it would not shock me to see wells fargo at 50. are you like the noble beast? the honey badger? do you care? i've never seen such negativity. you're beginning to start to drive me crazy. you keep this up, i may just have to pay a visit to your house. "mad money" will be right back. >> coming up, foundation recovery? the stock market's been riding high so far this year, but can commercial real estate tell us if the recovery is for real? cramer's finding out when he talks to the ceo of jimcorealty next. >> and later, at your request, all this week jim's checking his inbox, voice mail and twitter to answer your best questions on the air. tonight, could it be time to buy into the oracle of omaha's diverse portfolio? let jim decide. all coming up on "mad money." >>> miss out on some "mad money?" get your "mad money" text alert today text mm to 26221 to

that wells fargo is a major financer of the g.e.o.s. group which owns and runs the risk correctional institution in north carolina that is where thousands of people from right here in washington are sent to and incarcerated i know you wrote about some of the conditions and this prison and you also sort of mention why it's pretty clear that this is not viewed as a place for rehabilitation talk a little bit about this. well ridge correctional facility is an interesting because it's it's specially it's physically how does d.c. if it's so it's located in within north carolina which is something like two hundred fifty miles outside of d.c. and it's like you said it's run and operated by the geo group which is the nascent nation's second largest private prison operator so in d.c. it's interesting because back in the late ninety's congress passed a law basically moving taking the you know the responsibility for how the d.c. inmates and moving over to the federal government so that the federal government's responsibility now in that bill there

bank of america, wells fargo, j p morgan chase, citigroup and allied financial. not fretty mac and fanny mae. those are lenders used by 60% of americans. how do you find out if you can be a part of this? we have a link on our website listed under web link. live in oakland, i'm tara moriarty. >>> we received a statement this morning from wells fargo about the settle many. it says, quote, today's agreement recommends a very important step towards restoring confidence in mortgage servicing and stability in the housing market. as tara mentioned, you can find out whether you qualify or if you can be a part of this by going to our website. we've a link to ktvu.com. look under web link. you will find more videos and stories about today's announcement on bay area news and u.s. news tabs on the front page. >>> coming up, more good news on the job front at 12:15. we'll bring you the labor department's latest weekly reports on new claims for unemployment benefits. >>> an investigation is underway following a violent incident that left a police officer and a suspect both in

. >>> it's ash wednesday and the ash was spread to wells fargo bank. nearly 50 clergy members gathered outside the headquarters in san francisco to protest what they call rampant forclosure abuse. the group sprinkled ashes in front of the bank, symbolizing for the bank to repent. it comes after last week's release of a report that found 84% of foreclosures in san francisco homes violated at least one state foreclosure law. protesters called for a freeze on foreclosures and did their best to urge people to move their money out of wells fargo accounts. >> we are also launching a campaign and we invite communities in san francisco to move their money to institutions that honor our values. wells fargo spokesmen says the bank has foreclosed on less than 2% of homeowners. >> one day after marie colvin was reporting on the killing of a 2-year-old syrian boy -- she was a victim. they were among a group of reporters who snuck into the country to report. 56-year-old colvin was from new york and had been a correspondent for britain's sunday times for more than 25

wells fargo has been targeted by protesters.g individuals including this woman pulled their personal account. >> i did a few months ago because i felt like it was the right thing to do. >> reporter: even berkeley's major left the big bank. >> i removed my money from wells fargo recently. >> reporter: now the financial institution is at risk of losing the city of berkeley as a customer. >> edson. >> yes. >> reporter: the council tonight voting to explore other options to take over its $300 million account. >> when you look at moving our money to a bank that represents our community's values. >> reporter: jesse arreguin says wells fargo was at the heart of the financial melt down that impacted berkeley's economy. a wells fargo spokesman told us tonight that the bank is committed to berkeley saying that it has donated $300 million to nonprofits in the city over the past three years. and that it currently owns fewer than 10 foreclosed properties in the city. >> i think they've certainly done a lot of good things but i think it peals

wells fargo has been targeted by protesters.g individuals including this woman pulled their personal account. >> i did a few months ago because i felt like it was the right thing to do. >> reporter: even berkeley's major left the big bank. >> i removed my money from wells fargo recently. >> reporter: now the financial institution is at risk of losing the city of berkeley as a customer. >> edson. >> yes. >> reporter: the council tonight voting to explore other options to take over its $300 million account. >> when you look at moving our money to a bank that represents our community's values. >> reporter: jesse arreguin says wells fargo was at the heart of the financial melt down that impacted berkeley's economy. a wells fargo spokesman told us tonight that the bank is committed to berkeley saying that it has donated $300 million to nonprofits in the city over the past three years. and that it currently owns fewer than 10 foreclosed properties in the city. >> i think they've certainly done a lot of good things but i think it peals

those are the two kwaiest quality banks, jpmorgan and wells fargo. in terms of the capital markets plays goldman's had a pretty good run. i like the company quite a bit. but the capital volume -- the capital market volume is still really down. issuance isn't there yet. >> all right next up on the "halftime report," will rising gas prices change the dollar trade? we've got the play with the top analysts. plus one of the "fast money" traders is shorting high flying jcp. that's jcpenney. find out why after the break. looking for a better place to put your cash? here's one you may not have thought of: fidelity. now you don't have to go to a bank to get the things you want from a bank. like no-fee atms -- all over the world. free checkwriting and mobile deposits. now, depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. >>> welcome back to th

that warren might have been taking on the role of chief loan officer -- chief mortgage banker at wells fargospoke so glowingly about the virtues of taking out a 30-year fixed both for your own home and for rental properties. but berkshire would be a terrific beneficiary. wells would be because in the event that the world was better for housing, i suspect the yield curve would become a little more steep in which case berkshire -- wells fargo's enormous deposit base would be worth more. >> indeed. gentlemen, thank you very much. appreciate it. >> thank you. >> and from billionaires to millionaires, tonight on "how i made my millions" we're going to look through the martini glass. hand painted martini glasses into a multi-billion business. take a look. >> on a night unlike this back in 2000. >> girls night out. having a great time. >> she and some friends went martini sampling. >> one order of the chocolate, one order of the palm. >> while they quenched her thirst, creatively she craved something more. >> that class looked naked. and it needed a pattern on it. >> her idea, paint designs on the