Today, the City of Seattle took an unprecedented stand against unethical banking practices by unanimously passing the Socially Responsible Banking Ordinance. It will require the city to divest from $3 billion in contracts with Wells Fargo Bank, one of the several banks with a large financial stake in the Dakota Access Pipeline. The move sends a clear and powerful message that the people of Seattle expect our money to reflect and uphold our values.
Divestment — Or, How to Take On the Banks
Fighting politically entrenched big money is always a hard, uphill battle. They can absorb some losses and afford lengthy court proceedings that those with little or no capital cannot. Their vast resources often allow them to simply bulldoze over the rights of others — even when they are dead wrong. Without access to the same level of funding, we must use many different strategies to even the playing field, like direct action and media pressure. But our most effective weapon against well-moneyed opposition is divestment.
Read more at the source: Divest Now! Why Seattle Took Back Its Money From Wells Fargo (And Your City Should As Well) – Medium.