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OPEN LETTER TO WELLS FARGO CEO JOHN STUMPF
Dear Mr. Stumpf,
It’s time to repent and turn yourself in to the 99%. It’s time to stop your public lies. It’s time to stop issuing toxic mortgage loans to homeowners. It’s time to right the wrong as you promised. It’s high time to stop putting the stagecoach in front of that horse.
My name is Donna Vieira. You have known me for the past 7 years through my complaints and on-line petitions sent to you directly. With the authorization given directly by EVP & General Counsel Jim Strother and Major Business Unit General Counsel David Moskowitz, Wells Fargo gave my family a fraudulent mortgage loan in 2005 based on a hugely inflated appraisal. Wells Fargo’s mortgage loan is so toxic that as soon as we signed your mortgage loan contract before the ink dried, our home was already $243,000 underwater. Attorney General suspended your hand-picked appraiser’s license for committing appraisal fraud against my family and mandated the appraiser to complete fraud course. I forwarded you and your senior executives a copy of the Attorney General’s ruling. However, you still refused to correct your mistakes as promised and chose to wrongfully foreclose on my American Dream. Details are well documented on the website: www.wellsfargomortgagefraud.com
My husband and I have collectively banked with World Savings, Wachovia and Wells Fargo for 20 years. Both of us are first generation immigrants. My husband Nuno was a proud veteran who served this great country and now, we are self-reliant and responsible small business owners. We carry no debt other than the mortgage loan with Wells Fargo. Because of your toxic mortgage loan, our American Dream became an American nightmare. Shame on you!
When Attorneys General refuse to prosecute, Judges refuse to uphold the laws, Wells Fargo and you become extremely “successful and profitable” in defrauding homeowners like us. You awarded yourself $17.9 million this year for building a business model based on fraud, pain and suffering of my family and millions of others. Our elected officials and “Honorable” Judges allowed you to steal under their supervision. Shame on them!
Our tragic experience is not an isolated incident. How Wells Fargo defrauded my family is the perfect example why communities across the nation have crowned Wells Fargo the following titles.
Leads in Foreclosure – Continuing to wrongfully foreclose on families in an economy it helped to ruin.
Predatory Lender – Targeting communities of color with unfair, deceptive, or fraudulent practices during the loan origination process.
Corrupting our Democracy - Protecting its profits by quadrupling spending on lobbying since the financial crisis began.
America’s Biggest Tax Dodger – Hoarding billions of tax dollars that should be paying for public services and putting America back to work.
We have loudly advocated for Wells Fargo to carry out its promises to us and fellow borrowers across the Bay Area, the State of California and the nation. It has been a challenge, to say the least, to get the Bank to do the right thing. I met you in person at the 2011 shareholder’s meeting in San Francisco and pleaded to you not to steal my home. Instead of hearing what I had to say, you had the policemen arrested me for asking. That’s no customer service as stated in your interview.
In your recent interview with DiversityInc’s CEO, Luke Visconti on Leadership, Corporate Citizenship and Sustainable Business & Accountability, this is what you said: “The primary reason we get up in the morning and go to work is not to make money. The primary reason is to serve customers; the result is you make money. We want to make sure we never get the stagecoach in front of that horse.” “http://diversityinc.com/leadership/wells-fargo-ceo-john-stumpf-on-leadership-corporate-citizenship-sustainable-business-accountability/
April 24 was another shareholders’ meeting. We are actively partnering with the 99% Occupy movement. We are requesting the Bank meet with us regarding our home. We hope to meet in person and come to an agreement, until then we fully intend to continue exposing corruption, calling public attention to Wells Fargo’s abusive and predatory lending practices, our case and the case of thousands of other families.
This time, the JUSTICE and FAIRNESS will be defined by us, the 99%.
Sincerely,