First Community Foreclosure Protest in Context of Dodd/Frank Wall Street Reform Bill:
San Diego, July 7th
Date: Wednesday, July 7, 2010
Time: 11 am – 12 pm
Location: Union Bank, 1201 5th Avenue, San Diego, CA 92101
Congressman Bob Filner will co-host with Mabuhay Alliance the first Main Street protest regarding bank foreclosures since the Dodd/Frank bank reform bill was passed by the House. The protest will begin with Japanese/Morgan Stanley controlled Union Bank at its San Diego headquarters at 1201 5th Avenue, San Diego, CA 92101 at 11 am.
Congressman Filner and Mabuhay will be joined by 50 protesting homeowners who will discuss Union Bank’s harsh anti-foreclosure policies that are incompatible with the Dodd/Frank Bank Reform bill. Congressman Filner and Mabuhay Alliance will also discuss future regulatory reforms in context of the Dodd/Frank Bank Reform bill to protect up to 20 million homeowners from foreclosure.
A single mother with four children, two of whom are disabled will speak at the press conference on how Union Bank has refused her a loan modification, has foreclosed on her property, has sued to evict her and has asked the sheriff to take immediate action. Faith Bautista will discuss why this is inconsistent with the Obama program, the Frank Dodd bill and the practices of their Japanese parent company as applied in Japan. Attached is the letter Mabuhay sent to Union Bank on this issue.
Immediately following the press conference at Union Bank there will be a similar protest/press conference at Citibank’s headquarters criticizing Citigroup’s anti-consumer policies on foreclosure despite it being the beneficiary of $45 billion in taxpayer (TARP) funds. Press conference is at Citibank headquarters near Union Bank at 755 Broadway Circle, San Diego, CA 92101.
Congressman Filner said, “Too many people across San Diego have lost their homes as a result of reckless decisions by Wall Street. The Wall Street reform bill will put the power back in the hands of consumers and restore some common sense to our financial system. I want to thank the Mabuhay Alliance and the many banks who are working to prevent foreclosures so people can stay in their homes and ask the other banks to follow their lead.”
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