TAPinto-
Essex County Schools of Technology is following suit with the county government and will no longer bank with Wells Fargo over the bank’s foreclosure practices.
Essex County Executive Joseph N. DiVincenzo, Jr. earlier this month announced the county was cutting ties with the bank and putting its $3.6 million in holdings elsewhere. The move was in defiance of what DiVincenzo called “predatory lending schemes and aggressive foreclosure proceedings” from the bank that have impacted residents.
Essex County Schools of Technology Superintendent James Pedersen, who oversees schools in Newark and West Caldwell, gave kudos to DiVincenzo for his decision.
“While the County Executive is speaking for Essex County residents, the school district is speaking for our students who see and understand how this affects their neighborhoods,” Pedersen said in a statement. “There are other more reputable banking institutions we can do business with that can provide us with first-class service and more peace of mind.”
[TAPinto]
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