Saturday, March 26, 2005

Wells Fargo Is Unethical and UnAmerican
In Their Business Practices

From Associated Press:

WASHINGTON - When Army reservist Steve Welter was called up for active duty in Iraq (news - web sites) last August, his wife never thought she would face her own fight to save the family's home from foreclosure.

A 65-year-old federal law, which Congress expanded last year, provides a range of protections for activated reservists and for Guard members called up by the Pentagon (news - web sites).

Those protections include a 6 percent cap, under certain circumstances, on consumer and mortgage interest rate debt incurred before activation; protection from eviction or foreclosure; payment deferral for federal taxes; and a stay on civil proceedings, including divorce and bankruptcy.

Keira Welter knew the law was supposed to protect a soldier's property from creditors during active military service. But for months, she said, Wells Fargo Home Mortgage Co. did not seem to care about the law, no matter how many times she explained her case.

"We had worked so hard to own our own home, and while my husband was over there serving our country it was going to be taken away," said Welter, 31, of Osawatomie, Kan.

After Wells Fargo started foreclosure proceedings in February, Keira Welter contacted the state attorney general's office and members of Congress. It was not until a local television station aired her story and Sen. Pat Roberts (news, bio, voting record), R-Kan., intervened that the company finally backed off.

You know, really, apparently shame also ought to be heaped on those members of Congress to whom this situation was brought. If any member of Congress ever hears of such a situation he must do something about it. Members of Congress, and all of us, should treat our soldiers as our heroes.