we do have wells fargo and bank of america. but most of our business owners or small-business owners. one of the things i brought this morning at the forum is than most of these people, not all, and most of these people do not speak english and will have a hard time speaking english or understanding english. and when they have either call me or i have reached out to them, they are afraid to look at these are virginity funds are getting these small interest loans. so i am glad that jennifer had put down in her talk about reaching out to people who have a hard time with the english language. doing brochures. and i am willing and excited to do this for them and for the neighborhood. our news letter as an outreach to let these people know that we want to help not only fix their awnings but clean up their storefronts. the other thing that i wanted to say is most of these business owners actually hire from within the community. [bell rings] i even know that walgreen's hires from within the community. so that is good for us in a good

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

for that was the day east coast businessman henry wells and william g. fargoed a banking and express company to capitalize on the gold rush boom in california. wells fargo and company soon became a leading provider of shipping and banking services throughout the west. and it also played a role in the pony express. wells fargo stagecoachs were a frontier life line in the pre-railroad days. and the company's frontier exploits became the basis of the tv series "tales of wells fargo" which ran from 1957 to 1962 with dale robertson as special agent jim hardy. >> one thing about working for wells fargo, you met all kinds of people. >> osgood: it wasn't just the wild west. >> the wells fargo wagon. >> osgood: the wells fargo delivery wagon was such a staple of 19th century small town american life that it got its own song in the broadway musical and hollywood film "the music man." ♪ the wells fargo wagon is a coming down the street ♪ ♪ don't let him pass my door ♪ >> osgood: in 1905 wells fargo split the banking business from the shipping operation which was later so

in terms of wells fargo, well be fine.e have a diversified model and we are doing really well. >> amazing that now you are the largest bank by market value. when you look at what you just went through in terms of the stress test, what's the next catalyst in terms of measuring the health of the industry? is it another regulatory? another fed institute? >> i think it is primarily just performance. the financial services industry needs to demonstrate that we can perform in this kind of slower growth lower rate environment. we have been able to do that. that's why we are the most valuable financial services in the country. >> do you think rates will move higher soon? we are seeing money move from fixed income. what do you think that means. >> feds say stocks will be low until 2014. markets may be saying something different. i don't know for sure. wish i did. >> it is tough for you to make money with record low rates. >> tougher than slightly higher rate. but we don't make all of our money just spr spread income, from loans and

the wells fargo loan is at one time source of funding. this must be repaid and only targets the five quarters that you see on the slide. there is mission street, and ocean avenue. these finds come up another question that came up is where did they come from and how long have they been with in city control? these funds were lent to the city as 80% interest by wells fargo. at that point, these were dedicated just to storefront improvements in the bayview. at the same time, the redevelopment agency had a portfolio of funds to provide grants to businesses in the bayview for restoring storefronts. it was hard to interest businesses in a loan program when we had greagrand dollars fr the same activity. as a result, the funds state dormant for many years and it was the sheriff that we worked to have those incorporated into a revolving loan fund and for the first time we set rates for what those could be lent out and with wells fargo's help, we really expanded the scope from just store front, now they can be used for working capital, inventory, fo

wells fargo has not returned our requests for comment. >>> beautiful day out there. if you're a farmer. leigh glaser -- >> leigh: i know. we have been talking about this today. it's been kind of that elusive rain. not terribly heavy, the -- but just enough you need the windshield wipers and also it just keeps on coming down. not a lot of end in sight with this system as it slowly churns across the bay area. this is the 24 hour totals, and not a heavy rainmaker. a little over a half an inch in half moon bay. otherwise, seeing about a quarter inch, maybe a little more. and a little more as we head through the overnight hours. current temperatures, one thing you can say about today is it is cool. temperatures only in the 40s across much of today. 47 right now in san francisco. 48 in antioch, and san jose, 46 degrees. here's a look at the highlights. we'll continue with periods of rain overnight. rain tomorrow morning. with afternoon hours. we may get a little break. we get a break on monday, and then a more active rain pattern will set up tuesday and wednesday. live dop

now owned by wells fargo. a loan they have tried to modify for years and that is now considered to be predatory. you're doing everything you can. >> we have been selling things on craigslist and sold our truck. >> reporter: this is their last resort where wells fargo says mortgage owners are invited to meet one on one with a loan mod expert and may have a principal reduction or even moratorium on payments for customers out of work. >> typically about 25% get an answer here on the spot from attending the event and then shortly thereafter we're seeing about two out of every three customers gets some kind of workout option. >> reporter: while housing advocate kevin stein feels any help is positive you argues you shouldn't have to go to a fair to get a loan mod. >> it shouldn't be that the manner in which you contact someone makes a difference or who within the company you contact makes a difference. >> reporter: and while he says he does get fewer complaints about wells than the other banks, the california reinve

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

here it is. $25,750 payable to wells fargo investments.ank traced the check number and found the number in a dead checking account. >> they said i had to put a stop payment on it on the 26th of november. >> he said he never stopped payment and it should have been earning interest all these years. we asked wells fargo how it happened and the bank said it could not discuss the bank only saying, "we have been in contact with him and we believe we reached a fair resolution. ". >> they refunded his deposit of $25,700, but not with the interest he expected. >> well i am glad i got that back anyway. you guys are great. >> james tells us wells fargo did agree to pay $1800 interest on the funds for the six months it laid in the dead checking account. not as much as it might have earned had it been invested, but he is glad to have that money back. michael finney, 7 on your side. >>> speaking of money, if you have $78 million to spare you might be interested in a mega mansion in san gabriel valley in southern california. the home is 32,000 square fee

he's been trying to get wells fargo to modify his loan ever since. >> we were in a loan modifications for the better part after year and a half, they said they're going to help you, but they had no intention of to do so. >> reporter: they worked for two years to work for home ownership. they were unable to reach a conclusion. >> you need to be outside. >> reporter: the deputies arrived like clock work with guns drawn and warned goreski that the s.w.a.t team to be on their way. >> they're on the way. we don't know all that extra, extra excitement. >> reporter: after a brief negotiation, he comes out peacefully. but the wells fargo employee hiding behind the umbrella, he changed the locks of the home he built with his own two hands. with most of his belongings in storage, goreski has moved in with his in-laws. >> this is my new room. >> reporter: at 51 years old he's gone from living in a 3,000 square foot home to this. >> so now what? >> oh, you know, i don't know. i mean, i'm just going to put one foot in front of the other, get up in the morning, put my pants on one leg at a time an

to get the information it needs to decide if wells fargo is still the right bank for the city. >> today we are getting word that most of california's state parks will likely be saved from closing. a parks official said deals are in place now at 11 parks for groups to take over. negotiations underway at 40 more including two in marin. the officials said he expects the state will close about 15 of 278 parks july 1st. >> a state lawmaker drawing a master plan for cools to improve their techniques when it comes to teaching english learners. the state senator learned english as a second language when he was a young appointment now he is drafting three bills to create a master plan for schools. the state department of education said 10% are proefficient in the language. >> a former power house has filed suit againstall and five other countries. graphics property holding claims that several phones including the i-phone use their technology. the company is based in new york but was founded in sunnyvale. >> an angry mother is pushing for a new law after her high school daughter moved in

. >>> wells fargo about to hit more customers with a $7 a month fee for checking accounts. the bank is already charging all new customers as well as existing customers in several western states. in may at least six more states will be added to the list. wells fargo isn't saying which ones yet. the bank says there are ways around it. customers can actually maintain a $1,500 minimum daily balance or make direct deposits of $500 pour more each month to avoid the fee. they can also get a $2 discount by opting for only online statements. >>> apple and five major publishers may be in trouble with the feds. "the wall street journal" says the justice department plans to sue them for allegedly conspireing to raise the prices of e-books. if that happens, it might result in cheaper e-books for customers. >>> filmmaker james cameron directing his own real life epic adventure more than seven miles below the surface of the pacific ocean. that's right. the man behind "titanic" and "avatar" is also a deep sea explorer. cnn got to go behind the scenes down deep into the mariana trench. >> i

that's true for wells fargo, too.fargo says customers will be notified before those fees take effect on their accounts. the bank does say it is making these changes gradually and hopes they're giving customers time to go into their branch, talk over their options and find the account that works for them. john? >> alison kosik, thank you. >>> up next, hear the truth about newt gingrich's presidential campaign and whether it's about to run out of gas. >>> and you'll hear the remark that got congressman barney frank banned for a day from the house floor. sarah... will you marry me? i think we should see other people. in fact, i'm already seeing your best friend, justin. ♪ i would've appreciated a proactive update on the status of our relationship. who do you think i am, tim? quicken loans? at quicken loans, we provide you with proactive updates on the status of your home loan. and our innovative online tools ensure that you're always in the loop. one more way quicken loans is engineered to amaze. i don't want a plunger a

i like the wells fargo activity

wells fargo is hosting in richmond. katie marzullo is there and joins us with more. >> reporter: this is a large scale event. 400 wells fargo customers have registered. when they get here, they can look into getting help with either a loan modification or refinance. 25% of people who attend will leave with those changes in hand. >> the interest rate was going to increase in three years. >> reporter: these are hard times for homeowners like don from martinez who is behind on his mortgage payments. >> i took out another position in the organization where i wasn't making as much as i was before. secondarily, i went back to college and got my mba. >> reporter: wells fargo, often criticized for being part of the problem has been reaching out to customers who need help. >> about 81% of wells far get is owned by others. the vast majority would be freddie mac, fannie mae, fha. >> reporter: she says closing doesn't -- she says foreclosing doesn't benefit the bank any more than it does the homeowner. >> they will work with that p

he's been trying to get wells fargo to modify his home ever since. >> we were in the loan modification better part of the year and i have and they kept saying they would help that they had no intention of helping us. >> wells fargo said they would put the family for over two years. unfortunately we were not able to reach the modification option. >> the deputies arrived like clockwork with guns drawn and warned him that the swat team could be on their way. after brief negotiation he comes out peacefully with the wells fargo employee hiding behind the abroad, they changed the locks of the home that he built with his own two hands. with most of his belongings in storage, he has moved in with his in-laws. at 51 years old he's gone from living in the 3000 square foot home, to this. >> so now what? >> i don't know. i'm just going to get out of bed in the morning and put my pants on one leg at the time and go out and give it hell. >> there is the $100 reward for anyone who reports are impaired driver. the money would be paid for by the drunk driver and awarded only after conviction, and anti-

today a baltimore city group will evict wells fargo bank. good jobs better baltimore says at noon today they will gather at the wells fargo bank on east monument street and symbolically evict the bank. they want to highlight the negative effect wells fargo had in baltimore and nationwide as a corporate tax dodger and bad actor in the foreclosure crisis. >>> today's world water day. in an event in front of city hall corporate accountability international is going to release public water works. the report analyzes the investment gap in public water and the potential of water investment to create jobs. the report will be released at 11:00 this morning. >>> so some of us are 301, others 410, others 443. get ready now for 667. the newest area code makes its debut saturday. the new code is for those living in the baltimore area and along the eastern shore who get a number of any kind for any phone device. the area code is expected to create an additional $8 million phone numbers. >>> -- 8 million phone numbers. >>> the mess some had to face this m

wells fargo raising its dividend.t are you expecting this to tell us in terms of the rest of the banking sector? are you expecting a string of dividend increases? >> yes, we really are. but we're not expecting an enormous increase. because the cash flow they can use for buybacks is variable. times are good, you can use that money, times are bad you don't want to cut your dividends. they're going to be cautious. yes, they look like 8 percentage, but they're not close to the dollars they were paying out in dividends before. >> jackie, let me get you in here. tell me what your reaction is to all of this news, in terms of the fed stress test. do you think we're out of the woods, as they say, now that we have this information? what do you think? >> i don't think we're completely out of the woods. obviously this is a good sign, and i think the anticipation coming into these stress tests especially for the likes of a wells fargo, jpmorgan were fairly positive. we thought coming out of that, that we would see the dividend hik

we asked wells fargo how this happened.iscuss the case, only saying we have been in contact with mr. d, and we believe we have reached a fair solution. here it is. the bank refunded his original deposit of $25,750, just not with the interest he expected. >> well, i'm glad i got that back anyway. you guys were great. >> james tells wells fargo agreed to pay $1,800 interest on the funds for the six months it laid in the dead checking account. now not as much as it might have earned had it been invested, but he's glad to have this money back. i'm michael finney, 7 on your side. >> up next we will show you around an old school auditorium that's about to get a new lease on life. >> here are the winning numbers from last night's $10 million super lotto plus. 14, 24, 38, 40. the meganumber 19. no one got all six numbers. wednesday's jackpot is estimated at $11 million. >> a landmark san francisco theatre owned by the school district may open up after being hidden for more than 25 years. the city's arts and lecture series wants to

wells fargo expresssend tiene 1 servicio de envios a mas de 10 paises en latinoamerica. mexico es el mas importante por el volumen que mantiene. hemos enviado mas de mil millones de dolares el ano pasado, 2011, tuvimos 1 aumento de 23%. y siendo ya que la poblacion de origen mexicano es la mas grande pues ... la distribucion mas grande.los ejecutivos de wells o han visto 1 fuerte crecimiento y ha ampliado su red en mexico y otros paises con convenios con instituciones como el banco azteca y el grupo elektra, ofreciendole rebaja en el costo del envio de remesas. el aumento registrado el 2011 toavia no alcanza a recuperar los niveles record de envios de remesas justo en los anos anteriores al inicio de la crisis economica el 2008. desde washington, fernando pizarro, univision." debido al miedo a la deportacion de muchos inmigrantes del estado de alabama por los recientes cambios en sus leyes, varios de ellos ahora se enfocan en el vecino estado de louisina en busca de una nueva vida... vamos al informe de nick valencia desde nueva orleans... 00:1humberto guzmán inmigrante

. >> he took it to wells fargo bank and put $25,000 into a college fund earning tax free interest. >> she told me if they invested aggressively up to 10,000s ndz five years it sounded great, however, years later when he was ready to use it his dad got a big shock. the college fund was gone. >> there is no record of this account. >> wells fargo says it did not exist. james lost his paper work over the years and now, he couldn't prove he had opened the account. his $25,000 had simply disappeared. >> it felt like you've got to be kidding me you know? i gave money, someone i trusted. and there is just telling me we don't have it he tried for a year to find the money a search using social security number turned up nothing. >> i was just so flustered and just so, so upset. and this is expensive. now, what sup, dad? what are we going do? >> james called 7 on your side. we told him to search every scrap for any document linked to that account. then, it happened. >> i just happened to find the receipt. >> i found his copy of the cash year's check he'd deposited into the fund payable to wells f

. >>> wells fargo will build up its corporate banking services in 12 cities, including hong kong, india france jeremy et cetera. two percent is there and they are hiring more.

wells fargo positively surprised me. on the other hand we've been cautious on bank of america, and i think that it does make it more cautious on sun trust. on the other hand, citi even though they didn't do well in the stress test, once we get past some of the noise that will be a very interesting stock for investors to look at. >> susie: all right, thank you so much, fred, lots of good information. appreciate your coming on the program. >> thank you, suzive. >> susie: any disclosures or ownership on these stocks you mentioned? >> no. >> susie: thanks so much again, good night. also from the fed today, policymakers made no change in interest rates. wrapping up a meeting in washington, the fed said the economy is improving, but decided to keep its key short term rate near 0%. the fed's policy statement said the economy has been "expanding moderately". policymakers also noted that the "labor market is improving" and unemployment has "declined notably". consumer spending and business investments are up, and while "oil and g

wells fargo advisors. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. [♪...] >> announcer: with nothing but his computer, an identity thief is able to use your information to open a bank account in order to make your money his money. [whoosh, clang] you need lifelock, the only identity theft protection company that now monitors bank accounts for takeover fraud. lifelock: relentlessly protecting your identity. call 1-800-lifelock or go to lifelock.com today. ♪ ♪ one, two, three, four ♪ you say ♪ flip it over and replay ♪ we'll make everything okay ♪ walk together the right way ♪ do, do, do, do >>> today's congress, least productive and popular in recent history. what would it take to turn it around? what about if they don't get anything d

wells fargo is not say which states are getting the new fee but it is going into effect in may. there are ways for you to avoid defeat. -- to avoid the fees. >>mark: here is a live look outside on the bay bridge. we will continue to follow our breaking news story, a large apartment fire in berkeley. >>mark: ross mirkirimi has pleaded not guilty for a domestic violence incident that allegedly occurred new year's eve. the new court documents in the case revealed in to me details about his relationship with is ex- girlfriend christine floras. documents detail he did screaming matches where mirkirimi allegedly grabbed for arm party not to bruise her. >>darya: we are back with more and a couple of minutes. we will continue to follow our breaking news story. a fire at as to the apartment complex in berkeley. and >>darya: of breaking as out of the east today, a big fire has berkeley students out on the streets as an apartment is burning. joining us now, will tran, what is the status of the fire? >> it looks like for the first time the fire department has a firm grip on this. we do not