City of Los Angeles reviews divestment of funds from Wells Fargo

The city of Los Angeles is reviewing a motion to terminate its investment in Wells Fargo bank.

Councilmembers Paul Koretz, who represents Westwood and other communities in Los Angeles District 5, and Mitch O’Farrell presented the motion to divest from Wells Fargo in March because the bank financially supports the Dakota Access Pipeline and was found responsible for account fraud.

Koretz said he thinks the pipeline would harm the environment and damage the land of Native American tribal nations. For several years, Wells Fargo employees created more than two million fake bank and credit card accounts for customers without their consent or knowledge.

Read on.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s