ACORN Storms Wells' NYC Office

As part of a national campaign against Wells Fargo, the Association of Community Organizations for Reform Now sent over 100 members to storm the company's corporate office in downtown Manhattan Sept. 16, demanding a meeting with Richard Kovacevich, Wells Fargo's chief executive officer.Demonstrators attempted to hand-deliver a request to Mr. Kovacevich, who ACORN representatives say has refused to meet with the group. Security stopped the elevators, however, and the demonstrators settled for a 15-minute occupation of the lobby, where they chanted, cheered, passed out literature to passers-by, and set inflatable sharks afloat in a large fountain. The community activist group has alleged that Wells Fargo Funding and Wells Fargo Financial are making subprime mortgage loans with high fees, rates, and terms similar to those of other allegedly predatory lenders that have entered into large settlements with regulators. A written statement by Wells issued later in the day said ACORN's allegations were based on "misinterpreted data and other inaccuracies" and that it was willing to meet with "credible organizations in the communities in which [we] do business."