Wells Fargo Shareholder Meeting Disrupted

Protesters attempt to make an arrest on bank CEO.

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    NEWSLETTERS

    AP
    Protesters angry with the bank's mortgage policies are making their feelings known.

    Protestors barged into San Francisco-based bank Wells Fargo's shareholders' meeting on Tuesday -- and attempted to make a citizens' arrest on bank CEO John Stumpf -- as demonstrations outside the bank's Montgomery Street headquarters made their dissatisfaction with the bank known, according to reports.

    About a dozen people angry with the bank's mortgage policies interrupted the Salt Lake City shareholders' meeting, the San Francisco Examiner reported, with another 30 people protesting in San Francisco outside the bank's Financial District headquarters.

    Homeowners facing foreclosure and eviction blame the bank for "dual-tracking" mortgages -- meaning, simultaneously working to foreclose on a home while working with homeowners to find a payment plan -- and for being slow or unwilling to work with homeowners.

    Private security guards escorted the man who attempted to make an arrest on Stumpf out of the meeting, while police said they had made no arrests on protesters in San Francisco or Salt Lake City.

    A bank spokesperson noted that "Wells Fargo has adjusted mortgage loans in recent years for 167,000 borrowers for a total of $6.6 billion in forgiveness," according to the newspaper.