Seattle City Council votes to pull its business from Wells Fargo

[Yo_Mama_Been_Loggin]

The Seattle City Council voted unanimously Tuesday to pull its business from Wells Fargo & Co.

San Francisco-based Wells Fargo has managed the city’s operating account since 2013. The city will begin a competitive bidding process for a new bank to take over when the city's contract with Wells Fargo expires on Dec. 31, 2018.

Council members cited the bank's customer account fraud scandal and the lender's financing for the controversial Dakota Access Pipeline.

Wells Fargo Washington market CEO Mary Knell asked for another chance ahead of the vote.

"A socially responsible business owns up to mistakes and makes itself better," she said in a statement to the Puget Sound Business Journal. "Our No. 1 priority is rebuilding your trust. We are resolute in strengthening our culture and becoming a company that Seattleites take pride in."

http://www.bizjournals.com/seattle/news/2017/02/07/seattle-city-council-votes-wells-fargo-withdrawal.html?ana=e_sea_bn&u=ColXVN5SPzQtLHFP87ho2w07857290&t=1486515505&j=77322821

[GP6971]

1. Good for them.

Their moral compass is working. I just wish more businesses / organizations would pull their business from them. My former company pulled theirs last month. Wasn't anything major, but still a statement.