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Berkeley City Council may consider dropping Wells Fargo, again

Published Tuesday March 14


Photo: Berkeleyside

A Finance Department report on the agenda tonight says it is “necessary” for the city to continue banking with Wells Fargo for the next 3 years as staff consider other options, but suggests individual services that could be switched over to another provider in the meantime.

In Jan the council voted to consider “social responsibility” — or lack thereof — as it selects its next banking contracts. Some council members stated Wells Fargo’s investment in Energy Transfer Partners, the company building the Dakota Access Pipeline, and its fake account scandal call its ethics into question.

Meetings take place in Council Chambers at 2134 Martin Luther King Junior Way.

Article length: About 540 words.
Tags: Berkeley City Communications
Read more at Berkeleyside

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