Tell Wells Fargo: Don't Foreclose on Bethune-Cookman University Students
Wells Fargo
Since Mary McLeod Bethune founded what we now know as Bethune Cookman University more than 100 years ago, it has been an essential part of our community. It has helped shape the culture of our region, enriched our community with bright young minds, and provided outstanding education to countless young men and women
The details of the financing of the dorm buildings at BCU read like Mad Libs, the numbers are all over the place. What should be clear to everyone is that the students shouldn’t be the ones to bear this burden.
They shouldn’t worry about their dorms being sold out from under them.
They shouldn’t be squeezed for every nickel to fill the financial holes dug without their consent.
The misdeeds of developers and former administrators shouldn’t derail their education.
This community and the taxpayers of this nation have been good to Wells Fargo, bailing them out from financial crisis. The recent tax reform bill saved Wells Fargo $3 Billion... for the 4th quarter of 2017 alone.
I’m challenging Wells Fargo to step up and give these dorms to Bethune Cookman University, as a donation.
This is a relatively small thing they can do to give back to our community.
In return, these students will learn and grow. They will be the innovators, entrepreneurs, and educators of the next generation. Many of them will build their families and their homes here in Volusia County. That’s what makes our community strong and vibrant.
To:
Wells Fargo
From:
[Your Name]
More than 100 years ago, Mary McLeod Bethune founded the Daytona Educational and Industrial Training School for Negro Girls which evolved into Bethune Cookman University. Today, BCU is a vibrant hub of learning, culture, and prosperity for our community.
Behind the scenes shenanigans are threatening to destroy that vibrant hub, and your company is making threats to sue or foreclose on student dorms.
Your company is making this situation worse, creating unnecessary uncertainty for students.
Your company approved a financial deal that would have Bethune Cookman paying more than $300 Million for $30 Million worth of dorms. How could you have not seen this as a shady deal when it was presented and you agreed to finance it?
The right course of action for your company today is to forgive BCU’s debt on these dorms and to support a proper audit of BCU’s finances after ending the housing uncertainty for returning students.
Get right with our community, correct your missteps and be a part of building a stronger Volusia.