• Petitioned Avid Modjtabai

This petition was delivered to:

Avid Modjtabai
David Carroll
Mark Oman
Carrie Tolstedt
Howard Atkins
Chairman- Wachovia/Wells Fargo
John Stumpf
James Strother
Richard Levy
David Hoyt
Patricia Callahan
Kevin Rhein

Wells Fargo CEO: Comply with mandatory reporting of possible financial abuse of elderly clients or those with Alzheimer's

    1. Petition by

      B Stone

      NY, NY

Many of us have elderly parents or relatives whose funds are controlled by siblings or family members who should be acting in a position of trust.  Instead they are easily being financially exploited and preyed upon by those in a position of trust. 

A report on financial abuse of the elderly by MetLife indicates the most common abusers weren’t strangers but their children along with “trusted professionals.”

Wells Fargo, like all financial firms, is required to file suspicious activity reports (SARs) of suspected financial abuse of their elderly clients to the Financial Crimes Enforcement Network.   FINCEN publishes Red Flag warnings of suspect financial exploitation of the elderly

My mother, at 84 and a widow with Alzheimer's is a prime targel for financial exploitation and abuse.  Her account at Wells Fargo is being controlled under suspect circumstances by a family member who is an employee of Wells Fargo

Wells Fargo has ignored FINCEN warnings of obvious abuse and apparently particpated in the financial exploitation of my mother to further their own greed and self serving interest.

Please require that Wachovia-Wells Fargo does not ignore suspicious signs of financial exploitation of their elderly clients including my mother and complies with their mandatory reporting requirements. 

The results of Wells Fargo’s refusal to report warning signs of abuse are horrific and far reaching.  At her age, my mother should be enjoying her golden years.  Instead, she is being isolated by my sibling, is frightened and confused about her finances and has suffered unexplained physical injuries. 

 Not only is my mother apparently being financially exploited, Wells Fargo may be putting their other elderly clients at risk.

If your sibling or relative is isolating an elderly parent and you suspect financial abuse take action and require their financial firm file a SARs report. 

Please sign my petition, send it to John.G.Stumpf@wellsfargo.com and forward it others to request their signature to require Wachovia-Wells Fargo immediately file a mandatory SARs report to report the signs of financial abuse of my elderly mother and any of their other elderly clients.

Thank you.

B.Stone

 

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    1. Reached 5 signatures

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    Reasons for signing

    • Margaret butcher STAR, ID
      • over 2 years ago

      I have the right to occupy the space I'm in - I have the responsibility to take care of the space I occupy. Remove your hand from the cry of your people.

      Without a united voice -the banks win. I have been fighting Wells Fargo on my own for three years now; in and out of three HAMPS; made all the payments, “lost” paperwork every time etc. I was being put through a 4th HAMP when a man knocked on my door; that’s how I found out Wells Fargo had “sold” my home two days before.

      I work as a teacher’s aid in special education and had to quit college for my elementary education degree and interventionist for neglected and abused children, to fight Wells Fargo. Wells Fargo flipped my home back to Freddie Mac, who then filed to evict me and filed summary judgment which they were granted. I filed a “TRO” (temporary restraining order), to prevent the caring out the eviction order - and GOD BE MERCIFUL - the judge granted me the TRO. I still have a long battle and I am so tired.

      I live in Idaho were there is no in state help for homeowners like me and we are now prevented from out of state help by law. I can’t end my own suffering, but must see this through to the end so they are stopped from doing this to others. Every day that I work with little ones, I witness the damage done to them and their families by these banks...then I go home and fight the same battle for me and mine.

      We are not a number to these banks - we are cash cows and when our milk runs dry, it's off to the slaughterhouse.

      It is not the carcass of the dead buffalo rotting in the sun, with their tongues and hides striped for sport and profit that stain our ground, but the distressed neighborhoods with empty homes and displaced families which blight our land. Not unlike the abuses and excess of the past which left the land’s inhabitants, my lineage, homeless and displaced. Now, today it is corporate banks in bed with foreclosure mills who strip and gut what they were entrusted to conserve. How ironic it is to see a stag coach wagon on the letters I receive.

      “The frog does not drink up the pond in which he lives.” Sioux proverb

      My uncle says it another way...

      I am praying and signing...

      Be strong.

      Peg

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    • kathleen zagaros TAMPA, FL
      • over 2 years ago

      My parents were also victims of exploitation by their neighbor and 2 susequent court appointed guardians. My Father died. My mother has alzheimers and was very abused and lost all of her money. I am still working to make changes in our laws. I know your pain!!

      REPORT THIS COMMENT:
    • Jon Meadow NEW YORK, NY
      • over 2 years ago

      too many people are lured in by "trust" departments who have ignorant employees who mismanage and squander their assets.

      REPORT THIS COMMENT:

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