Sawant proposes ‘socially responsible banking’ ordinance to help defund DAPL
Seattle City Council member Kshama Sawant spoke at a rally outside the Seattle City Hall for the city to end its ties with Wells Fargo and defund the Dakota Access Pipeline.
The 8:30 a.m. rally on Wednesday was in advance of a City Council council committee that will consider Sawant’s proposed legislation for the city to divest $3 billion of deposits from Wells Fargo – a major funder of the pipeline — and seek a “more socially responsible bank” to manage the city’s money, according to Sawant.
“If Seattle divests from Wells Fargo, it will greatly fuel the inspiring nationwide struggle against the Dakota Access Pipeline and the oil lobby. I urge council members to support this legislation as part of Seattle’s fightback against Trump and the billionaire class,” Sawant said Tuesday.
If Council Bill 118883 passes, Seattle would be the first major municipality to end its relationship with a major funder of the pipeline, according to climate justice group 350 Seattle.
That group and the NoDAPL Seattle group co-sponsored Wednesday’s rally.