The Logical Leftist
The Logical Leftist
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Two Cities pull Billions out of bank supporting DAPL

Posted

February 10, 2017

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"Seattle's City Council has voted to not renew its contract with Wells Fargo, in a move that cites the bank's role as a lender to the Dakota Access Pipeline project as well as its creation of millions of bogus accounts. As a result, the city won't renew its contract with the bank that expires next year.

The unanimous vote will pull the city's more than $3 billion in annual cash flow from the banking giant, the council says. Seattle says the bidding process for its next banking partner will "incentivize 'Social Responsibility.'"

Not long after Seattle's vote, the City Council in Davis, Calif., took a similar action over the pipeline. It voted unanimously to find a new bank to handle its roughly $124 million in accounts by the end of 2017."

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Guests & Subjects Covered

Seattle's City CouncilWells FargoDakota Access PipelineResponsibility' NotCity CouncilDavis Calif

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Two Cities pull Billions out of bank supporting DAPL · The Logical Leftist · Sentinel