(GNU) "Wells Fargo Tower" Cheronda Guyton Vilified for Wells Fargo Bank Repossessed Home Use? Are...
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Cheronda Guyton Vilified for Wells Fargo Bank Repossessed Home Use?
Are Consumers Airing Their Foreclosure Ire Against Cheronda Guyton, Wells Fargo Banking Executive?
Cheronda Guyton, Wells Fargo executive, is undergoing severe media and public scrutiny over her use of a bank repossessed home. Did Cheronda Guyton really break the rules or is she a lightning rod for consumers' foreclosure angst and anger?Cheronda Guyton, Wells Fargo Exec, in the News
According to her Linked In profile, Cheronda Guyton is a senior vice president at Wells Fargo Bank. She has held a position with the bank for the past 17 years. The Associated Press now reveals that this seasoned banking professional frequently used a recently vacated $12 million Malibu estate. The property is among the bank repossessed homes that owners have returned to Wells Fargo. Neighbors are upset that Cheronda Guyton allegedly used her Wells Fargo position to take over the property and host parties, rather than putting it on the market.
Did Cheronda Guyton Perform State Mandated Wells Fargo Business?
In July of 2008, the California legislature passed SB1137. As reported by the Los Angeles Times, the bill - among other provisions - requires bank repossessed homes to be maintained by the lender or bank that now holds the title. Seeing empty homes is a daily reality in L.A. and surrounding cities; it is also true that these vacant bank repos are a magnet for vandals and other ne'er do wells, who will use it as a crash pad, rip copper out of the walls, or engage in various illegal activities in these homes. Neighboring property values drop accordingly.
While it may be an eyebrow raising occasion, is it not possible that Cheronda Guyton - as a representative of Wells Fargo - was actually fulfilling her fiduciary duty? A CNN photo gallery of bank abandoned homes shows overgrown weeds, crumbling structures, and overall eyesores that drive home prices down. Moreover, finding buyers, who qualify for a $12 million loan, is not as easy as it might have been a few years ago. It is conceivable that -- while putting the home into use might have been off-putting to neighbors - this was actually keeping it in working order for Wells Fargo.
Could Cheronda Guyton, Wells Fargo, and Others be Guilty of Shenanigans?
Comments
Stan
(Guest)
(Guest)
09/15/2009
and maybe we should move bank executives into every home they foreclose on or takeover. I could see how that would be an innocent perk. What a waste of words, Sylvia.
respectall
(Guest)
(Guest)
09/15/2009
helmholtz - oh wow. did you really think it was okay to make such a comment? again, wow.
terrell
(Guest)
(Guest)
09/15/2009
This article is ridiculous. Spounds like Sylvia is a relative or close friend. Maybe she even attended some of the weekend bashes.
Wow,lots of people interested in this one. Hugh makes some good points, but then so does Shethy.
Malibu Snowbird
(Guest)
(Guest)
09/14/2009
Cheronda Guyton should've realized that Rule #1 in Malibu is try to fit in with the locals and rule #2 is to "keep a low a profile as possible." I've been to that camera and publicity shy community numerous times and know that to be the case. If someone stands out then yeah, there's going to be trouble. This is not a 'racial' issue as some here want to imply. The non-celebrity Malibulites have not liked the noise the celebrity types have brought into their town for years. Besides, what she did is still ethically questionable. It's clear she merely wanted to appear to be living the high life...like Marie Antoinette, and we all know what happened to HER!
Bella Sofia
(Guest)
(Guest)
09/14/2009
I work for Wells Fargo for 5 years now and I'm probably going to retire with them. Unfortunately, this woman is a poor excuse for an employee. No, it is not Wells Fargo's policy to have any of it's employee live and throw parties in any of it's foreclosed properties. As a Wells Fargo employee, we constantly take test after test each month to reinforce ethics in the workplace. Any inside information cannot be used to obtain personal gain. This woman will be fired once the investigation is completed. Wells Fargo has plenty of money to make sure bad apples gets removed permanently. I'm sure they will fire her and sue her for the time she live on the foreclosed property and then some. Wells Fargo does not play when it comes to protecting their image.
Hugh H
(Guest)
(Guest)
09/13/2009
I'm not sure how holding parties does anything about weeds and cracks! As for racism, not a bit of it. It's wrong to abuse one's position to endanger the assets or good name of one's employer. What if one of her guests had been injured at a party there? What if they'd burned the place to the ground? It's irresponsible and totally unacceptable of any employee and not less so because the person (who I don't know from black woman or Indian man or woman!) is an executive.
If a "care-taker" of either sex or any race had done anything close to this, Wells Fargo would have fired them in a second.
Well withen his rights if Wells Fargo doesn't care then I don't.
First Time Commenting
(Guest)
(Guest)
09/12/2009
It is not surprising...yes we have come a long way but obviously not long enough. Racism is alive and well. It is even more evident as ridiculous protests over an US President encouring children to better themselves in school/life...need I say more?
Shocked
(Guest)
(Guest)
09/12/2009
It surprises me how racist most of the comments are. Wrong is wrong regardless of a person's race. It's sad to see that just because she may be a minority..all minority women are critiqued.
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