*In 2004, ACORN abruptly flipped its position on banks — criticizing financial institutions for being too quick to grant mortgages to poor and middle-income earners who couldn't pay back their loans. It filed a class-action lawsuit in California against Wells-Fargo Financials. In the suit, ACORN said the bank engaged in unfair and deceptive lending practices, including "bait and switch" sales tactics. The same day it filed the lawsuit, ACORN brought 2,000 of its members to downtown LA to march against Wells Fargo's "predatory lending" and "abusive loan practices." ACORN's housing director Maude Hurd said then that the group was determined that the bank would not "continue to swindle and steal from our communities." Sounds like Cloward-Piven strategy to me! |
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