and if you visit a wells fargo atm and you're a wells fargo customer you can donate through our atms. really easy. i did it myself this morning. >> excellent. every penny counts. thank you so much for your good work. thank you for the donation. again $125,000 from wells fargo for the nationwide campaign. ken? >> all right. let's go again to give that you phone number. 1-888-5-helps-u. our total right now $168,500,000. we have more than 1500 donors who have come forward here in the bay area. call us, make a donation. it's what you can do sitting there watching tv tonight. it doesn't take much effort. we have people standing by at the phones. they will take your call and you can really help some people who are in desperate need of help tonight. back to you guys. >> thank you. we'll check back in with you in a few minutes. >>> new at 5:00, police are still searching for a hit-and- run driver on the peninsula. now, chopper 5 shows the scene just after 12:30 southbound 280 near black mountain road in hillsborough. chp says that a man driving a toyota 4-runner hit two cars on a shoulder the

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

a local woman goes into a wells fargo branch to pay off her auto loan. she closed her account and waited for her title. in tonight's call for action report, she tells us that wait turned into a two-year saga. >> jenny got her subaru in 2006. by october 4 of 2011, she saved up enough to pay it off. she went to the wells fargo branch and paid just over $1500 in crash to get her title. >> i had waited the two to three weeks and it hadn't come. >> the title never came, but another bill did. so jenny made a call to the bank. >> i talked to the lady and said this is a mistake. for some reason, your account came over here, but i'm seeing that it's all paid off in full. everything is great. >> this began jenny's two-year journey to finally get total ownership. she had paperwork that her account was paid in full and bank employees said it was a problem on their end, but wells fargo kept billing her for money she thought she already paid. jenny contacted call for action. here's what our team found. bank employees told jenny she owed just over $1500 to pay off her

nice to have you on set as well. >> thank you. >> come back soon. >> tim sloan from wells fargo joinings. >>> heading to the close with 20 minutes left in the trading session, the dow picking up a little steam. up 46 points. the nasdaq is doing well, up 34. s&p is in record territory. >> cisco may set the tone for tomorrow. in a few minutes they're out earnings. ceo john chambers will be here giving us his global outlook. a lot of people listen to what he has to say as cisco is uniquely positioned to read the world economy. >>> after the bell i'll be going toe to toe with the champ. >> pay-per-view. >> former heavyweight champion of of the world, mike tyson sits down with me. he's gotten off the canvas of bankruptcy and now taking on the challenge of publishing and theater. we'll be right back. stay with us for mike sti tye son. (vo) you are a business pro. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or abov

and wells fargo getting a nice pop after dan loeb here on cnbc revealed his stake in that company. we'll look inside his portfolio and find out what else he owns. that and much more on "the half." [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason

last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should get us know when we go back outside. not sure what to expect. second, i thank speaker pelosi for all the work she did to support the jobs act and before that, the stimulus bill, the original american recovery act bill that allows sba to be able

. >> in 2010, well wells fargo reduced elisabeth's mortgage so she could afford her payment. under ordinary circumstances, elisabeth 's would have nent a huge tax bill. >> $50,000 on taxes. >> if a creditor forgives your debt normally that's considered taxable income. >> but elizabeth and all of the struggling borrowers, were spared. foreseeing the financial disaster the tax laws could create. george w. bush siedged the mortgage -- signed the mortgage relief in 2011. >> it's a really good piece of legislation. >> a good piece of legislation that may not be able to help the borrowers who benefit from the $4 billion in consumer relief provided by the jpmorgan chase settlement. the mortgage forgiveness of relief act expires at midnight on december 31st, creating a financial nightmare for some homeowners, experts say. >> while they may be able to afford their new mortgage payment, they will be stuck with a tax bill they won't be able to afford and attempting to pay those taxes may wind them up in default again, or in foreclosure abouforeclosure. >> that $100,000 is considered inc

chief equity strategist at wells fargo. good to have you with us. >> thank you. >> what are you seeing in your accounts at wells fargo? are people developing a better appetite for equities and leaving bonds? >> i think they are. it's a slow process and not a one-step process, it's a two-step process. i think people are beginning to find equities less scary and more attractive and they are beginning to wonder about the bond holdings. they know rates are down an awful lot and we have to realize bonds go both ways. >> john, i'm sure you and many strategist say you have to own some bonds. are there still some bonds that are safe to own, or are you better putting your money into equitys? >> i think you're better off putting your money into equities. i think some corporate spreads are well praiced so we can go fr the junkiest judge. i was 27 years old when the bond market rally started. >> i was a young cat at that time, too, back in the '80s, if i'm inclined to invest in bonds, should i buy bond funnels or the individual securit

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

. >>> wells fargo paid $335 million to settle a lawsuit over risky mortgage back securities. the san francisco bank outlined the payout if a regulatory filing. the money results claims that wells fargo misled fannie mae and others about mortgages. >>> and smith will take the field some sunday, he's face the star quarterback cam newton. >>> and now gasia is in the news room with a look on what's coming up on tv 36. >>> tonight we've been looking into what experts say is a long term increase in the number of vehicle fires. just last week, a car fire forced drivers to abandon their cars. now beef learned some of the choices you make may be putting you at risk. join us for a live report coming up at 7:00 on tv 36. [ male announcer ] you can change your tomorrow if you do something today. and there's never been a better time because this year, devry university has $45 million dollars in need and merit-based scholarships and grants available to those who qualify. and this degree can make a difference. in 2012, 90% of devry university grads actively seeking employment had careers in

it's interesting you bring up that period while you were at wells fargo.some people who were leading the firm at that time saying the standards weren't nearly as high as they should have been surmount to being fraudulent for giving these peoples mortgages. what's wrong with that? it's quite clear some of these mortgages wasn't clear what they should have been for investors. >> that's correct. those loans were originated by s&ls and they were securizing and issued by banks. commercial, mainstream banks are not doing the bad things you're seeing in litigation today. >> except those that had or supported investment banks. >> well, i don't know how they support them. >> in other words, if we have a system whereby there's a reward for the people who are creating this stuff, even if -- even if there's a step over those who aren't directly involved this is a system and you can look at some headlines today, dick, the number of new structured finance deals that are coming out is astonishing. this sector was supposed to be left for dead several years ago. it's quite

two without outstanding litigation with respect to the municipal derives and it was reported with wells fargo to take the precedes and set them aside with outside council. we received word back recently in the last 48-hour period that they've approved the settlement and our ability to get the settle but at this time, there's no way to set side to side those funds in a trust fund they that didn't approve the second part of thatries. nerlsz we'll take the 27 thousand funds and apply them to litigation fees at least 14 other defendant that are out there. so plaintiff's rather >> anything else to add. >> i think the summary and i appreciate the finding. >> so that includes my report. >> the next business is at 9 the questions and matters. >> off ramp we're getting towards the holidays so if you can't be here for meetings. >> the next item is closed session. so we're going to move the closed session to another meeting. we'll continue the item to another date >> the next set of business is item 11 adjournment. okay. thank you we're going adjourned

this e-mail has links to the real wells fargo website imbedded it. updated account information, address, social security number. what it does of is when you hit the submit button the information did not go to wells fargo but to a computer server in hungry. bottom line, never give out your personal information to an unsolicited e-mail box. scam artists love this time of year. keep your guard up. don't get full speed and we come back we head out to los angeles for the l.a. on the show. some of the cars making there debut. we answer the question how you do that. some advice on how to talk to your axe about money. ♪ stay with us. ♪ this is the quicksilver cash back card from capil one. it's not the "limit the cash i earnvery month" card. it's not the "i only earn decent rewards at the gas station" card. it's the no-games, no-signing up, everyday-rewarding, kung-fu-fighting, silver-lightning-in-a-bottle, bringing-home-the-bacon cash back card. this is the quicksilver card from capital one. unlimited 1.5% cash back on eve purchase, everywhere, every single

this e-mail has links to the real wells fargo website imbedded it. updated account information, address, social security number. what it does of is when you hit the submit button the information did not go to wells fargo but to a computer server in hungry. bottom line, never give out your personal information to an unsolicited e-mail box. scam artists love this time of year. keep your guard up. don't get full speed and we come back we head out to los angeles for the l.a. on the show. some of the cars making there debut. we answer the question how you do that. some advice on how to talk to your axe about money. ♪ stay with us. ♪ [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools

and the other child died at wells fargo bank. >>> it could lead to a shakeup at the san francisco fire department. it shows the latter truck striking the motion cyclist. hater he tested aoff the blood alcohol limit. >> i think our crews under the circumstances did the best they possibly could with everything that was going on and testifying that they faced. >> quinn has possible punishment for their response to the crash. >>> the 8th protest over the deadly shooting of andy lopez resulted in the first arrest. he was shot and killed on october 22nd and the deputy said he thought the beebee gun lopez was holding was a real one. they marched downtown and they are calling for the didn't tee. at least 33 break-ins have been reported all over the city. palo alto also talked about smash and break in and one happened in the livermore neighborhood. police say do not leave anything in plainview. >>> the mall -- crowds at the malls may be smaller this year, they may be doing 30% and that's the highest percentage ever. they also are finding more from brick and mortar stores and many are taking adv

something to prevent a systemic breathdown -- breakdown and jp morgan took over those banks just like wells fargo -- >> can you just say is that a good thing or a bad thing? [laughter] >> jon: and make it snappy, nerd! [laughter] we don't have all day. well, actually we do literally have all day 24 hours 7 days a week. but still good or bad! and wear a tie! [laughter] now watch wolf blitzer. take an analyst making a nuanced argument about the balance in this country between liberty and security. watch blitzer take this cat to j school. >> after 9/11 i think the american people gave the executive branch extraordinary leeway to sort of keep. >> is that good or sphwhad. >> think ultimately it's a good thing. >> jon: it's just not -- good or sphwhad can't believe this dude let himself get blitzed so quickly. let's michel bachman show you how it's done in the timely affordable care act. >> let's go through the points tell me if it's good or bad. is it good or bad that children can be on their parents health insurance policies until they reach 26. >> these are biftz done now. >> but that's part of obam

that's why you're seeing wells fargo stock down.believes as soon as the mortgage market stabilizes, which he believes will be next year around the second quarter that margins will soon follow. for now, we'll send it back to you. >> kayla tausche back at hq. the house oversight committee set to hold a hearing at the bottom of the hour, that after news that the web site is unlikely to be fixed by the end of the month deadly. . eamon? >> reporter: yes, a tough morning. there had been some question about the chief technology officer would testify. the white house initially said this guy is too busy dealing with the health care.com rollout to go up to capitol hill and testify and do all the preparation required for that. some people had described him as actually sleeping in his office in the roll-out of the healthcare.gov web site, obviously plagued with problems. we have a little of an excerpt for his prepared testimony this morning. he doesn't say enough but he says we have much work still to do but are making progress at a growing rat

the room and includes dhs and greens and habit for a 450u7b9 and neighborhood for america and the well fargo foundation and many groups across the country who believe that home is the better way for success. the tenderloin neighborhood is one of the local orchestrates we're 2k3wr5e6 for their leadership in making this possible. with this event home matters is moving beyond housing to illuminate health w is one of the health issues that starts at home. i hope you will all support this movement get on board with the matters and fill out the cards you can learn more at the american.com and facebook.com we're live twitter right now. we encourage you to do so share where home is. does home matter for health? it does. we'll tell you why home matters. awhile plotting along as a bored

. >>> wells fargo, the latest bank to settle government claims over the sale of bad mortgages just ahead of the financial crisis. the san francisco-based bank paid less than $1 billion in penalties in the case. that's a relatively small cost compared to other banks dealing with similar claims. >>> kraft foods is removing the yellow dye in its mac and cheese products that are marketed to kids. it does not affect the plain elbow macaroni and cheese. the company denies the decision has anything to do with a highly-publicized online campaign about the health risks of yellow dyes. instead, a spokeswoman says they're just making the food healthier. >>> expect to see long lines outside the apple stores this morning when the tech giant's new ipad air goes on sale. the full-sized tablet features a 9.7-inch retina display and a faster chip. it weighs just one pound. the price about 500 bucks. >>> also today, i'm not sure about this one. lay's is introducing a solution for those seeking the sweet and the salty. there they are. take a look at this. lay's wavy potato chips dipped in milk chocolate. d

. >> reporter: in 2010, wells fargo bank reduced the size of elizabeth's mortgage by $2,000 so she could afford her monthly mortgage payment. >> we're about 1274 right now. >> under ordinary circumstances, her $200,000 mortgage would be taxed for income, and. >> if a creditor forgives your debt and they say, okay, you don't owe this to us anymore t. that's normally taxable income. >> reporter: but for elizabeth and all of those having the size of the mortgage reduced were spared. but president george w. bush signed the mortgage debt relief act in 2007. >> this bill will create a three year window for homeowners to refinance their mortgage and on any debt they may receive. and it's a really good piece of legislation. >> a good piece of legislation that may not be able to help the billions in debt relief provided by jpmorgan. it expires at midnight on december 31, and it could be a nightmare for struggling homeowners. the jpmorgan settlement can't address this problem. while they may be able to afford their mortgage payment, they may be stuck with a tax bill that they can't afford. and it

. >> in 2010 wells fargo reduced the size of elizabeth's mortgage so she could afford her mortgage paymentunder ordinary circumstances elizabeth's 200,000 principles reduction would be taxed as income. for elizabeth that would have meant a huge tax bill. >> $60,000 on taxes. >> if a creditors forgives your debt, meaning they say, okay, you don't owe this amount to us any more, normally that's considered taxable income. >> reporter: but elizabeth and all of the struggling borrowers who have received financial relief by having the size of their mortgage were spared. for seeing the financial disaster that the tax laws could create, president george w. bush signed the mortgage relief bill. >> this with allow homeowners pay no mortgage on debt forgiveness they may receive. this is a good bees of legislation. >> reporter: a good piece of legislation, the act expires admitted night december 31st creating what experts say a financial nightmare for struggling homeowners. >> it could not have addressed this problem. there is a big catch in this while they may be able to afford their new mortgage pay

so wells fargo sees a lot of upside. >> i think anyone who's got a kid in child care knows this is bigess. >> it ain't cheap either. >> that's what i mean. >>> yesterday we talked about how nobody is talking about cisco shares. they were red hot. we're going to highlight we're red shot because cisco having their worst day in almost three years. weak sales, weak guidance. what a disaster. on the technicals, rich ross. on the fundamentals, mark lichtenfeld. people expected a lot from cisco. they disappointed the world. what do you make of the story? a quarterly issue or a management issue? >> well, i think it's maybe a little bit of both. i tell you what. i like the stock here. i think you do want to let it settle in a little bit. you don't a falling knife. when it does maybe in a few days or few weeks, there's a lot to like. only trading at ten times forward earnings. 3.2% dividend yield. i think if they set the bar very low on purpose for the second quarter. they said to expect an 8% to 10% revenue decline. what happens if next quarter they're still leaving a decline. let's say it's on

that includes $45 billion from bank of america, $26 billion from jpmorgan, and $9 billion from wells fargo. attorney general eric holder has indicated, though, the government's investigations into the other big banks over similar concerns is far from over. >>> the supreme court has gelt a blow to opponents of texas' new abortion law. in a 5-4 decision, the court ruled the state can continue to enforce the restrictions. that includes a requirement that doctors who perform abortions in clinics must have admitting privileges at a nearby hospital. critics say the ruling has affected more than a third of the state's abortion clinics. wendy davis drew nationwide attention for her ten hour filibuster back in june. in a statement, she writes in part, this is an abuse of power by politicians in austin. i trust women to make their own decisions and will continue to work to make sure that women and mothers are safe and have access to adequate health care. republican governor rick perry praised the ruling say, quote, this is good news for the unborn and the women of texas who are now better protected

need to raise $40,000 for the trip and they are well short of that with a travel sunday set up at wells fargo we do have that information on our website at abc7news.com if you go to the story you see the information. leyla gulen? >> dry for a football game. toward the embarcadero and the ferry building we have clear conditions with high clouds today, we expected rain early this week but it does not look like it will happen. it will move to southern california. sort of kissing the coast as it makes it to the southeast. for california we will be 62 degrees in monterey and 48 in tahoe, 71 in palm springs so very mild. for the next three days we have decent temperatures and dry conditions and a look at the full seven-day forecast in a moment. but, first if you are making travel plans it is early but you can see how clear everything is at highway 92 we had an early sig-alert that cancels and all lanes have re-opened at skyline and over the altamont pass, it is going to be top speeds out of tracy to livermore. this is the golden gate bridge which is empty right now from sausalito to san francisco.

moody's confirmed ratings for citigroup, bank of america, state street and wells fargo. moodys says all 8 banks are rated as investment grade and have a stable outlook. president obama is calling on his supporters today. following a rocky start to the massive insurance overhaul, the president said he'll hold a conference call with supporters today to discuss immigration reform, healthcare and more. meanwhile, both sides of the aisle are looking for a fix in light of the recent changes to obamacare. friday, the president met with insurance executives to brainstorm ways to fix the current situation. the president met with insurance executives to brainstorm ways to improve the current situation. " because of choice and competition, a whole lot of americans who've always seen health insurance out of reach are going to be in a position to purchase it. and because of the law, we're also going to be able to provide them help even if they are still having trouble purchasing that insurance. but they've got to know what those options are in order to be successful." also on friday,

wells fargo is number one on the list followed by , coca-cola, ibm, american express, procter & gamble, walmart, exxon mobile, us bancorp, direct tv, and goldman sachs. ninety-five billion dollars in aircraft orders for boeing.not a bad start for the first day of the dubai air show.boeing's triple-7 x is the sought-after aircraft.but where it'll be built is the subject of our cover story. machinists in washington state rejected a boeing contract to build the triple-7 x, a more fuel-efficient update of boeing's triple-7 airliner. in a devisive vote that pitted job security versus take-aways, machinists weighed. whether having their pensions frozen and time to reach top scale extended from six-years to-16 years...was worth steady work for eight years. in a vote affecting 32-thousand workers-- they told boeing, "no deal." "it was draconian. they went for the whole magilla. they should have negotiated in exchange for job security." the vote has opened a door for other communities eager for the chance at landing a big boeing contract. an official from savanah, georgia where general dynamics

wells fargo recently installed a financial education portal for consumers to find answers to frequentlysked questions. jpmorgan chase as a financial lie bare. bank of america commissioned its own study for 78% of respondents said learning about personal finance is hard. now the banks try to make that a bit easier, setting up the first financial education platform. no mention of its own products and digital educator of the renowned khan academy as a partner. the result, better money habits.com, where a video series walks through everything from adjustable rate mortgages, to tax deductions, and everyday lessons often forgotten, small steps for an industry failing the grade on financial literacy, consumers still have to do their homework. for "nightly business report," i'm kayla toushy. >>> it is rivalry weekend in college football, so that means millions of people will be glued to their tv sets, but as jane wells tells us, one legendary coach is hoping to change the way fans watch. using what's known as a second-screen strategy. >> run the pistol on us. >> reporter: no one knows oklahoma

he's regional chief investment officer at wells fargo private bank. thanks for joining us tonight. >> thank you. >> are there any head winds that could stop this? six uptakes and we've been through september and october with great gains. where is the weakness in the market? >> i'm not sure you'll see a lot of it. we only have 30 trading days left in calendar year 2013. we'll look into 2014 and as we look into 2014, i think the environment sets up nicely for overall economic growth and descent earnings growth. i'm not sure there are a lot of head winds. certainly on a relative basis to your earlier point and the earlier segment where interest rates are and don't forget cheap inflation or low inflation at today's levels. >> darrell, i would like to follow up on the report from seema where she's talking about the market. at some point the fed will cut back on the stimulus. what companies do you think will be growth winners in that environment and do you agree with stocks she was talking about? >> yeah, as you turn the page into 2014 you have to look at g

td bank, bank of america and wells fargo are all offering mortgages with as little as 5% down.the changeof heart can be attributed to market conditions -- risng home prices mean the banks are taking less of a gamble. just ahead-- the stock market has been a stunner this year. but trader alan knuckman has uncovered a stoc k he says could run higher to catch up. chart talk is next alan knuckman joins us now to talk about the strength of this market. good morning to you alan. > > good morning angie. > > just how far have we come? it has been a fast ride. yes it definitely has, the nasdaq has been leading the way. were up 30% for the year and as you may know there's going to be the twitter ipo so all eyes are on tech. > > alright so let's talk about some stocks that have not participated in the rally. > > right that's the thing that mentioned a couple weeks back it's again the theme some stocks who haven't played ball yet. if you look at emc, emc is about 12% off the peak right now and the stock has been trading between 22 and 27 and right now we're seeing about 23 1/2. now it's bounced off

too big to jail problem as one of the major money center banks like city bank, bank of america, wells fargojp morgan would. if you had one of those banks charged criminally it would limit their ability to transact business and have massive lay offs and a real problem for the economy. >> the fines topped the 157 million dollars that the hedge fund was ordered to pay and he is also serving a 11-year prison sentence. charges against coen are still possible and al jazeera new york. >> it's time for a short break on the news hour and when we come back. >> crime here is sky high and will i raise two criminals? no, i don't think so. this is the time to leave. >> more islands seek a better life in the united states and we will tell you how one nfl team is beating allegations of bullying and they are seeking help and more on that, stay with us. ♪ welcome back, a quick update on a story we reported on earlier, in the united states the suspected gunman during a shooting in new jersey has shot himself and after reports of a gunman firing inside and police say there were though other injuries. here is h