On the 18th of April, DC Divest rallied on the steps of the Wilson Building, then packed the room at the DC Council’s CFO Oversight Hearing. They were there to demand that Jack Evans stop holding up a bill to remove the DC government’s money from Well Fargo.
Wells Fargo is infamous for funding private prisons, the Dakota Access Pipeline, and other pipelines. In addition, Well’s Fargo’s racist banking practices such as redlining have caused, Wells Fargo to fall short of legal requirements for handling the DC Government’s money.
The featured speaker in the video is DC Councilmember David Grosso, who introduced the resolution to divest all DC government funds from Wells Fargo. Also a speaker from Rising Hearts on the role of Wells Fargo in the Dakota Access Pipeline and threat to DC drinking water posed by the Potomac Pipeline. Finally a speaker explains how DC is in violation of an existing city law that forbids the DC government from doing business with banks that are ranked as “needing to improve” on issues such as racist lending practices. Wells Fargo has received that rating due to their vicious racist banking practices, so DC is now in violation of existing law by not moving their money.