LA Magazine – February 21, 2017

Will L.A. Dump Wells Fargo
Several cities have already ended their relationships with the bank for backing the controversial project.

Earlier this month, around 1,500 protesters gathered downtown in response to President Trump’s executive order to renew construction on the Dakota Access pipeline—you know, that massive crude oil pipeline being built from North Dakota to Illinois that will pass under a river near the Standing Rock Sioux reservation and has resulted in all sorts of tumult. Protesters camped out for months (and months), people got shot with rubber bullets, the National Guard came in, Jill Stein tagged a bulldozer, Obama put the project on hold, Trump said go ahead, and barely a week ago the Army Corps of Engineers gave it final approval.

In the face of the DAPL’s construction, opponents have launched a movement to divest money from the 17 banks financing the pipeline—among them, Wells Fargo, which loaned around $120 million to the project. A local group, Revolution LA, is circulating a “DivestLA” petition (it currently has 1,213 signatures) urging Los Angeles to join the movement and close its accounts with Wells Fargo.

Continue reading on Los Angeles Magazine.

Comments are closed.