Wells Fargo Under Dept. of Treasury Federal Investigation

Wells Fargo Under Dept. of Treasury Federal Investigation

 

On 3 July 2014 Rev. Frank Paul Jones was denied the right to open a saving account for the National Community Network, INC., and was given a signed document from the store manager stating to the effect that all key members of this non profit organization will have to be present and do a roll call before her, prior to her authorizing such business transaction.

 

We took this up the ladder of Wells Fargo Corporate Department and still after first stating this doesn't make any sense, they would redirect us by saying there is something in your records that was placed there, the will not allow me to open your account.  We were denied again on 7 July 2014 and again this weekend and it is all documented.

 

This matter was reported to the Department of Treasury office of the Comptroller of Currency.   The argument presented by Rev. Frank Paul Jones, is that this is just one example of Redlining and Jim Crow Banking practices in the South. I realize now these are some of the barriers that have to be broken if our community is to ever advance.  The system down here is design to repress blacks. The laws are racially biased and unfairly enforced.

 

Such banking practices puts us at a huge disadvantage in competing with white non profits in Highlands County. It disallows us to run crowd-funding campaigns in order to raise immediate funds. For example if a kid needs an operation or even tuition to stay in school and has no insurance or money from his parents, we would require to open an account in his/her name but under our non profit entity tax exemption  statuses, until funds are transferred.

 

Another business disadvantage is for  example we have Pay Pal, because we cannot open another account, we cannot create a chiasm or gap between Pay Pal and our actual general funds.  Therefore anyone who has an account with us can charge us outrageous debits and we would have no recourse until Pay Pal completes their investigation. Such a stunt could destroy us financially.  But this is how negroes are supposed to do business down here in the South, says Wells Fargo.

 

We are waiting on the decision of the office of Comptroller and then will decide on the proper response to these unethical business practices. We want to insure that all black non profit agents and churches are allowed to open bank accounts quickly and without scrutiny as a result of our complaint. This will open the door to community charity.  And we want a public apology from Wells Fargo on the front page of the Highlands Today Sunday Edition. So that everyone knows Wells Fargo is no longer a Jim Crow Banking Establishment.

 

Rev. Frank Paul Jones aka Apostle Paul Castellano

Wells Fargo Bank Accused of Jim Crow Banking Practices

Wells Fargo Bank Accused of Jim Crow Banking Practices

 

By: Rev. Frank Paul Jones - President and CEO - The National Community Network

 

Rev. Frank Paul Jones, President and CEO of the National Community Network, INC., filed a complaint with the Office of Comptroller of U.S. Currency, the Department of Treasury on July 7th, 2014.  The complaint is against Wells Fargo Bank for unfair Jim Crow & Redlining banking practices, with the intent of preventing any type or form of black unity in the South and in Avon Park, FL.  This comes at the beginning our fund raising campaign, to prepare to put into action, "Operation Solution and Response by 1 Nov. 2014.

 

The reason for filing this complaint is because Rev. Frank Paul Jones, who was not even duly recognized as reverend in a letter by the Bank's Store manager Samantha McClelland below, which is another sign of  her disrespect and disregard for black authority and self determination in the South; is that this goes far beyond simply our being denied a savings account in order to be more fiscal responsible by saving the monthly fees associated with banking with Wells Fargo, but they are basically saying these things as well is:

 

1: If we decide to run a crowd-funding campaign (raise money over the internet) for a sick child in the hospital dying with an immediate need, all of our board members and all of our officers from every part of the country must do a roll call and come before Master Samantha McClelland for her approval, here in Avon Park, FL.  This is discrimination and unfair business practices.

 

2: They are saying if our community decides to support someone who may not be politically acceptable by Wells Fargo, to do so that must all show up before Master Samantha McClelland for her approval. This is discrimination and unfair business practices.

 

This opens the black community up to all types of intimidation tactics that can be used to prevent our organizing for our rights.  This may go beyond our battle for voting rights in the South.  This opens all our supporters in key positions in our organization to being vetted by those who may be their oppressors and may act as a deterrent and therefore it is my duty to stand before them and therefore it should be my right as a non profit President & CEO - Agent whose bylaws state he handles all fiduciary responsibilities, who is already doing business with this banking institution with a business checking account, in times of community associated needs be able to act at our full 501 c 3 capacity. What she is doing clearly preventing us for doing our daily business transactions and therefore clearly prevents our organization from properly functioning as we were designed and intended to serve our community.

 

I do not think this was an isolated incidence, but a clear cut conspiracy being exposed proving that Wells Fargo is on a large scale suppressing black investment, redevelopment of community and black unity or our ability to unify for any just causes of our choice without Wells Fargo ability scrutinize us.  And based on their agenda have the authority to serve us or not serve us,  by giving them the ability to target individuals who support our causes out of key positions. These are basic fundamental banking rights being denied for black's in Avon Park, FL. And wherever Wells Fargo does business in the State of Florida.  "We as black people should have equal rights in banking institution or we have no rights at all."

 

The Store Manager was so arrogant as to sign this letter as to say, "Now get out of my bank nigger."  Anyway this is how she made me feel she was handling me. We haven't decided on our next course of action to end these unfair banking practices by Wells Fargo.  Stay Tuned!

 

Rev. Frank Paul Jones - President and CEO

The National Community Network, INC.

 

She was so arrogant as to give me this document, which she signed and therefore there is no denying what happened.

 

This letter is to confirm that on this 3'd day of July 2O14, we are unable to fulfill the request of the

customer Mr. Jones to open a savings account in the name of the corporation in which Mr. Jones is the operating agent of. We are unable to open the business savings account due to the articles of the corporation listing seven additional officers that are not present at the financial institution.

 

I believe this is a wide spread practice at Well Fargo & Company, because the store manager went as far as to sign this letter stating she would deny us banking rights at Wells Fargo, based on bank policy.

 

 

July 3, 2014

 

Samantha McClelland

Store Manager

 

Wells Fargo Bank

Avon Park FL 33825