BERKELEY — A petition on change.org urges the city to cease doing business with San Francisco-based Wells Fargo bank.
The petition was launched in apparent anticipation of the council’s taking up of the matter on May 30.
Wells Fargo & Company was reported last year to have opened more than 1.5 million accounts for clients without their knowledge, notes a report accompanying a draft resolution to cease doing business with the bank co-sponsored by council members Linda Maio, Sophie Hahn, Ben Bartlett and Mayor Jesse Arreguin.
“In addition, Wells Fargo has been engaged in financing the private prison industrial complex and the Dakota Access Pipeline,” the report continues. “These practices are of great concern. Since we learned of these practices our banking services contract with Wells Fargo was reduced markedly, at Council request, and we are assured we will terminate as soon as possible. Wells Fargo will have to compete with other banks as we seek new services and our criteria for selection must be clear and consistent with the City’s articulated values.”
Under the draft resolution, Berkeley would “extend the current banking services contract with Wells Fargo Bank only through May 2018.”
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