These stories are about homeowners in Washington’s Whatcom County who occupied courtrooms and picket lines in 2002. They protested predatory lending by Wall Street’s largest independent finance company, HFC Finance. HFC was forced to pay $486 million dollars nationwide in 2003 and over $50 million to Whatcom homeowners in 2004. Today’s protests stem from similar pain, which they’ve shared with me through personal interviews and court documents. They are inspirational and prophetic.

            The lead plaintiffs were Jeanie and Joe Luna. Jeanie was the full-charge office manager/bookkeeper of the Blaine, Washington newspaper. After reading HFC advertisements and letters promising lower interest, they consolidated all their debt into a bi-weekly loan to get a 6.99 percent interest rate. When Jeanie saw her first statements she began complaining about being charged too much interest. HFC’s branch manager told her to keep making payments and she’d get the 6.99 percent rate, which made no sense to Jeanie. Finally her credit union told her she had a 12 percent interest rate and debt so loaded by fees she couldn’t refinance. Jeanie was stunned. She told HFC, “You lied to me.”

Jeanie wronged is a relentless force. After a year’s search she explained their financial trap to Wenatchee attorney Bob Parlette. He told her, “I’m going to take your case. I know somebody said to you 6.99 percent, because nobody [like you] would be so stupid unless she was lied to. But we need proof.”

She produced their HFC document promising 6.99 percent.

Brenda and Carl Bennett refinanced with HFC seeking lower payments, but a representative convinced them they’d save more money with a lower rate on a bi-weekly loan. Brenda kept her account current but payments were crushing their finances and marriage. Desperate, she met a lawyer who arranged a meeting with Jeanie. After much prayer about the impact on their children, they agreed to sue HFC on condition they wouldn’t participate in publicity.

A month later, Elsie and Neil Nelson signed up. They refinanced with HFC after the branch manager had called to promise lower interest rates, but their accountant discovered they’d paid much higher interest than the year before. He sent them to mortgage broker Debra Cook who found irregularities in their files. Cook recommended they file a complaint with Washington’s Department of Financial Industries, which already had dozens of complaints statewide. I asked Elsie why they signed with HFC.  She quietly said, “We had a loan with HFC, they were everywhere, and we trusted the people we talked to.”

Parlette filed a class action lawsuit and recommended Jeanie call the Bellingham Herald. Reporter John Stark said he dismissed her story at first but, “She pestered me until I called Parlette.” The Lunas’ story appeared the first Sunday in April. Monday his email was lit up with stories from people relieved to know they weren’t alone. Two weeks later he published several more stories and later covered their picket line outside the HFC office. His continuing coverage triggered articles in Forbes and financial magazines.

The $50 million Whatcom County award went to over 200 plaintiffs. I visited five of them last weekend. The Lunas had already refinanced and won small credits on their former loan. They retired and in June returned from an overseas mission. The Nelsons saved thousands of dollars in interest when their rate was lowered retroactively and recently took a dream vacation to San Francisco. Brenda and Carl sold their house in a short sale and divorced. Brenda said the children are fine and expects to get her teaching degree in 2012.  She said, “Jeanie and Joe were so brave, they kept me going.”

These plaintiffs identify with the Wall Street occupiers. Jeanie said she hoped we’d get a president with more business experience. I said, “I think Congress has the long term responsibility.”

Joe said, “It’s not doing its job.” 

Jeanie said, “Then it’s up to the people occupying Wall Street.”

Listen to her. She represents this nation’s mighty force that knows when something is wrong and endures until justice prevails.