Richmond, California, Fights Banks With First-In-The-Nation Plan using the Power of Eminent Domain

PAUL ELIAS • www.huffingtonpost.com • August 25, 2013

When the mayor of Richmond, Calif., and a gaggle of activists and homeowners showed up at the Wells Fargo Bank headquarters in downtown San Francisco this month, they were on a mission to speak with the bank’s chief executive.

They wanted the bank to drop a lawsuit aimed at stopping Richmond’s first-in-the-nation plan to use the government’s constitutional power of eminent domain to “seize” hundreds of mortgages from Wells Fargo and other financial institutions.

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