Groups Call for Consumer Cop to Protect Against Foreclosures

For media calendars on October 17, 2011

RALEIGH, N.C., Oct. 14, 2011 /PRNewswire-USNewswire/ -- Community development and consumer advocates will hold a rally and march on the grounds of the state capital at noon on October 17 to call on state and federal officials to be a consumer cop and protect consumers against big banks overstepping their legal authority.

The rally coincides with a N.C. Supreme Court hearing of Dobson vs. Wells Fargo, a case in which the bank is pursuing a foreclosure without proper documentation to show its ownership of the loan. If the court finds in favor of Wells Fargo, it will overturn well-established N.C. property rights laws, place extreme burdens and inequities on low- and middle-income families when defending against foreclosures, and cause devastating decreases in property values for thousands of North Carolinians.

What: Rally to kick off statewide campaign to spread awareness of the consequences of fraudulent foreclosure practices and the remedies that are needed.

When: October 17 at noon

Where: State capital grounds

Speakers will include community development advocates as well as North Carolinians dealing with foreclosure.

Rally participants will carry signs and suitcases to represent families forced out of their homes by fraudulent foreclosure proceedings.

SOURCE Community Reinvestment Association of N.C.