L.A. to research divesting from Wells Fargo over Dakota Access Pipeline
Los Angeles City Councilmen Mitch O’Farrell, 13th District, and Paul Koretz, 5th District, on Tuesday introduced a motion to explore divesting taxpayer funds from holdings with Wells Fargo Bank, due to its financial support of the controversial Dakota Access Pipeline.
The Dakota Access Pipeline would extend more than 1,100 miles through North Dakota, South Dakota, Iowa and Illinois. In January, President Donald J. Trump released a memorandum offering support for the project.
Opponents of the project have expressed concern that it will cause environmental devastation to the regions it crosses, including the land of the Standing Rock Sioux. Last year, the city council unanimously approved a resolution opposing the construction of the pipeline. O’Farrell said Tuesday’s motion is part of making sure the council’s resolution was not an empty gesture.
Photo by Blair Avery.
Continue reading on Beverly Press.