KARE 11 News. October 10, 2011
MINNEAPOLIS - A Twin Cities neighborhood action group is blaming big banks for costing Minneapolis schools millions in state funding. The group, Neighborhoods Organizing for Change (NOC), linked home foreclosures to per-pupil funding.
"Wells Fargo's share of what it costs the Minneapolis Public Schools is $28 million," said Steve Fletcher, Executive Director of NOC. "I would like to see Wells Fargo write a $28 million check to the Minneapolis Public Schools. That would be a really good start. I would also like to see them agree to mediation for everybody facing foreclosure and I would like to see them start thinking about writing down principal to really adjust where the market is."