How to make this brief — again! Haha. With all the nominee bad news today, thought it was a good time to share this.
So I did it, withdrew almost all my funds from Wells Fargo just before Christmas last month.
Below is the letter I sent to executives and board members. And the New York Times, San Francisco Chronicle and Washington Post.
Most probably know of the #BankExit movement — horrified that our $ in big banks (making almost zero interest) is fueling the fossil fuel speculation and things like the (almost) Dakota Access Pipeline, and the human rights and climate abuses that are involved. It’s been delayed there, for now.
losangeles.carpediem.cd/…
inhabitat.com/…
(“Since the Connecticut Green Bank was founded in 2011 as the first green bank in the United States, green banks have expanded to New York, California and other states.”)
But I don’t want to see any more of it. Or at least support any more of it. So my money is now at a local credit union, safe and sound. I told Wells Fargo if they don’t change their act, and get out of fossil fuels, I’m closing all my family’s accounts there—four of them. After 17 years of business.
- You can email the Wells Fargo board at: BoardCommunications@wellsfargo.com
- Write to them and the execs at: Wells Fargo Headquarters, 420 Montgomery Street, San Francisco, CA 94104
- And call them at: 1-800-869-3557
Below is my letter, and actions—
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Dear Wells Fargo Santa Monica Pier Ave. Branch Manager Goran Toplek,
Timothy J. Sloan, Chief Executive Officer and President
Michael J. Loughlin, Senior EVP, Chief Risk Officer
And Board of Directors
John D. Baker II, Executive Chairman, FRP Holdings, Inc.
Stephen W. Sanger, Chairman, Wells Fargo & Company
Elizabeth A. Duke, Vice Chair, Wells Fargo & Company
RE: Wells Fargo’s Investment in Fossil Fuels and My Withdrawal of Funds / Closing of Accounts #BankExit #DeFundDAPL
Dear Sirs and Madam,
The recent Wells Fargo news has led me to reconsider my 17 year relationship with
your bank.
The fake accounts scandal was shocking enough.
Now the news that you are a major investor in fossil fuels such as the Energy Transfer Partners / Dakota Access Pipeline attempt is too much. This was a shocking historic event that enabled many of us to see where and how badly our bank account money is being invested. Not acceptable.
Today 12/23/16, I withdrew a XXX figure sum from my accounts. Most of it.
If Wells Fargo does not lead and come out in early 2017 PULLING ITS SUPPORT AND ADVOCATING THE DISCONTINUATION OF THE DAKOTA ACCESS PIPELINE (and writing the loss off) and announcing its plans to STOP INVESTING IN FOSSIL FUELS
I will be CLOSING ALL MY ACCOUNTS with Wells Fargo in early 2017.
We cannot keep investing in fossil fuel projects. Shaming and violently repressing innocent and native people trying to block the polluting pipelines on or near their land is reprehensible as well. YOUR BANK is funding this activity. It is no longer acceptable investment behavior.
Climate change is absolutely deadly real and existentially serious for humankind.
You should be ashamed of your part in accelerating fossil fuel use knowing what we know.
Please announce new MAJOR INVESTMENTS IN SOLAR AND WIND FARMS in 2017.
I will be following the upcoming conduct and investing of Wells Fargo closely and will be acting accordingly.
G. Colby Allerton
cc/ New York Times, San Francisco Chronicle, Washington Post, Los Angeles Times