Occupy Atlanta will hold a press conference at 3:30 pm in Piedmont Park (in the green space behind Park Tavern at Monroe and 10th), followed by a march to Atlantic Station to protest Wells Fargo.
Among other crimes, Wells Fargo misled investors, including pension fund managers for NYC teachers, firefighters, and police, into investing into shaky bonds and securities backed by risk-laden mortgages the bank itself peddled. Wells Fargo is guilty of discriminatory loan practices and of manipulating transactions to maximize overdraft fees. Meanwhile, the bank received $25 billion in bailout funds and $301 billion from the Federal Reserve, at 0% interest.
Bad mortgage loan debt, the justification for the bank bailouts, is being passed on to consumers in the form of extra fees including usage fees for debit cards. Sun Trust, Regions Bank, and Bank of America have all dropped their proposed monthly debit card fees amid a storm of criticism.
