FOR IMMEDIATE RELEASE
October 29, 2013
Contact:
Maurice Weeks, ACCE
MEDIA RELEASE FOR October 29th, 2013
NEW REPORT HIGHLIGHTS MILLIONS SPENT BY WELLS FARGO IN CAMPAIGN
CONTRIBUTIONS & LOBBYING TO BUY INFLUENCE, HALT CRUCIAL LEGISLATION
Report looks at contributions to state legislators,
the committees they sit on, and the fate of several bills that would have helped to refund and rebuild California
This year, in the 2013 legislative session, Wells Fargo actively lobbied against Change of Commercial Property Ownership legislation (AB 188) which would have raised tens of millions of dollars in new revenue for the state. Their campaign contributions to state legislators on key committees in which the bill was heard greased the way. The Housing and Jobs bill faced a similar fate. These are two examples of legislation that would benefit consumers that died or stalled with the significant help of Wells Fargo lobbyists and political donations.
In this new report, Wells Fargo’s political spending to the California Legislature, federal recipients, and lucrative lobby contracts are brought to light. The report was written by Public Campaign and the ACCE Institute.
WHAT: In 3 cities across the state, community members will hold rallies in front of Wells Fargo Bank and present the findings of this new report. The group will demand that Wells Fargo support commercial property tax reform legislation and public financing of elections. This event is taking place during a statewide week of action. For more info visit refundcalifornia.org
WHO: Homeowners facing foreclosure by Wells Fargo, community members, housing advocates, elected officials
WHEN/WHERE: TOMORROW – TUESDAY, OCTOBER 29th, 2013
Bay Area: Wells Fargo HQ, 420 Montgomery Street, San Francisco, CA @ 4:00 pm
For more information please call John Eller – 415-725-9869.
THE REPORT WILL BE AVAILABLE ONLINE ON TUESDAY OCTOBER 29that http://publicampaign.org/
California faces many challenges to funding vital services, stemming foreclosures, and regaining its role as a leader in the country. However, corporations like Wells Fargo stand in the way of key legislation that would move the state forward.
Wells Fargo’s tax dodging and foreclosure reputation are well known throughout California and have been a focus of ACCE and their coalition partners for years. This report comes as a part of the continuing campaign to hold Wells Fargo accountable for their actions in California and urge them to work with low to moderate income communities.
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Maurice Weeks
Campaign Coordinator
ACCE (Alliance of Californians for Community Empowerment)
510-269-4692 (o)
973-494-2461 (c)
mweeks@calorganize.org