Portfolio Category: press

Los Angeles Cuts off Wells Fargo

October, 6, 2017 - Los Angeles Cuts off Wells Fargo, Pays $3.14B in Debt Service - Excerpt: This weekend in Los Angeles, the divestment movement achieved a mostly quiet, but major, victory. On Friday, the city released its request for proposals to service the city’s banking needs. The RFP lays out the various needs that…
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Los Angeles Needs a Public Bank

August 2017 - Los Angeles has 44 departments and bureaus who manage $5,549,000,000 in annual revenue collected from tax, fee and fine payers, as much as the whole country of Iceland. At any given time, there is an average of $45 billion in public money sitting in various operational accounts, reserve funds or short- and…
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Popular Democracy – July 26, 2017

LA City Council Unanimously Votes to Divest from Wells Fargo - On June 27, the Los Angeles City Council unanimously voted to divest $40 million from the city’s security investment portfolio with Wells Fargo. After four months of persistent public pressure from Divest LA, Indigenous Peoples, and supporters insisting upon the creation of new ethical…
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Wisconsin Gazette – June 29, 2017

Encouraged by Indigenous Peoples and Divest LA, city council votes to divest $40 million from Wells Fargo - The Los Angeles City Council unanimously voted 14-0 to began the process to divest $40 million from the city’s security investment portfolio with Wells Fargo. After four months of persistent public pressure from Divest LA, Indigenous Peoples…
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Last Real Indians – June 28, 2017

L.A. Votes to Divest $40 Million from Wells Fargo - Los Angeles, CA – Today, the Los Angeles city council voted to divest $40 million from Wells Fargo due to their financial backing of the Dakota Access Pipeline. The group Divest LA has worked tirelessly to pressure the city council to divest. The following statement…
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