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National Urban League and Wells Fargo launch African American issues
(November 6, 2009) The National Urban League announced that it has
entered a three-year, multi-million dollar partnership with Wells Fargo
to address challenges within the African American community, starting
with a focus on sustainable housing and community stabilization.
The partnership was launched Nov. 5 during the National Urban League's
Equal Opportunity Day dinner in New York. John Stumpf, president and CEO
of Wells Fargo, is chairing the benefit event.
During its first year, the multi-faceted relationship will include
grants to selected National Urban League affiliates for foreclosure
counseling , technical assistance for foreclosure prevention programs,
staff training on foreclosure counseling and a significant presence at
National Urban League events -- including its annual conference. Wells
Fargo's Hands on Banking financial education curriculum -- which
includes a focus on credit management -- also will be an integral part
of the campaign.
"This partnership complements the National Urban League's outreach
efforts to help homeowners in distress to remain in their homes and
ultimately build viable communities," said Marc Morial, president and
CEO of the National Urban League. "The opportunity to pursue and
preserve homeownership is a core component of the Urban League's
Opportunity Compact, and is deeply embedded in our Economic Empowerment
The three-year partnership builds on an initiative announced earlier
this year between the National Urban League and Wells Fargo to
co-sponsor a new edition of The Foreclosure Workbook: The Complete Guide
to Understanding Foreclosure and Saving Your Home. The workbook, written
by foreclosure author Carla Douglin, was distributed free-of-charge to
at-risk consumers across the nation. A reprinting of this workbook will
be part of the effort the two organizations will undertake over the next
"Wells Fargo's vision has long been to help our customers succeed
financially by helping them achieve and sustain homeownership," said
Stumpf. "We believe in doing what is right for our customers, and that
includes working with them when they encounter financial challenges or
other hardships that make it difficult for them to afford their homes."
Earlier this year, Wells Fargo introduced Leading the Way HomeŽ, a
multi-faceted initiative to stabilize housing, advance homeownership and
revitalize neighborhoods in cities hit hard by foreclosure. The new
partnership also will include joint activities to tackle these issues.
The Urban League assists more than 400,000 people a year to secure
homeownership maintain good credit and obtain monetary savings.
"Our partnership with the National Urban League is another important
step in Wells Fargo's continued efforts to better serve our diverse
communities in which we live and work," said Stumpf. "We want to satisfy
our customers' financial needs, and this relationship will help us
continue to do just that."