Saturday, December 24, 2011

Occupy Memphis Asks City/County to Expand Wells Fargo Lawsuit

Posted By on Sat, Dec 24, 2011 at 9:00 AM

At its Sunday general assembly, Occupy Memphis passed a "Notice to Redress" urging the city of Memphis and Shelby County to expand their lawsuit against Wells Fargo to include "Hispanic and poor white constituencies."

Currently the lawsuit, filed in conjunction with the city of Baltimore, alleges that Wells Fargo engaged in predatory lending among African American residents. But Occupy Memphis members want to lawsuit to cover other communities they believe were also affected by reverse redlining practices.

"As this lawsuit is currently in discovery, we petition our governments to expand their complaint against Wells Fargo to include our entire community," reads the notice, which Occupy members are delivering to Memphis Mayor A C Wharton and Shelby County Mayor Mark Luttrell.

The notice also states that, if any criminal actions by Wells Fargo are revealed, that "no fines or plea bargains should be entertained as a substitute for conviction."

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