DIVEST LA

The time has finally come. After an era of corruption, greed and cynicism, the old paradigm is beginning to crumble, the people have begun to rise up to demand a better system. With inequality at historical highs and the imminent threat of environmental destruction, the time to act is NOW.

We are calling on Los Angeles Mayor Eric Garcetti and City Councilmembers to divest from Wells Fargo. We will not support financial institutions that illegally foreclose on working-class families, discriminate against people of color or low-income consumers, commit mortgage fraud, invest in oppression against indigenous peoples, or finance the destruction of our shared environment.

We want Los Angeles City Council to pass an ordinance to end the city’s current relationship with Wells Fargo, and amend the current Responsible Banking Ordinance (RBO) to include stronger social and environmental criteria when considering banking contracts.

Wells Fargo is a major financier of the Dakota Access Pipeline, an oil pipeline project that has destroyed sacred tribal lands, endangers the clean water supply of the Standing Rock Sioux reservation and millions of Americans, and has resulted in human rights violations of indigenous peoples and water protectors.

Wells Fargo’s morally bankrupt practices are further exemplified by the 2016 lawsuit filed against the bank by the Los Angeles City Attorney for fraudulently opening more than two million unauthorized checking and credit-card accounts, and victimizing ordinary citizens for profit gain. For their deceptive acts, the bank settled with the County and City of Los Angeles for $185 million.

The City of Seattle recently achieved a landmark victory by divesting $3 billion from Wells Fargo due to unethical business practices and financing the Dakota Access Pipeline. The City of Davis, California followed suit by voting to divest $125 million from Wells Fargo. The divestment movement is underway.

Cities all across the United States are considering socially responsible banking ordinances and divesting from unethical banks. The people will no longer sit idle as our banks and financial institutions profit from injustice. The people are ready to take on the big banks and fossil fuel industry, regardless of who resides in the White House. Seattle was the first major city to divest. Los Angeles will be next.

Divest LA is also a call to action for conscious people everywhere to use our consumer power to defund DAPL and withdraw our assets from personal accounts from all 17 financial institutions bankrolling the Dakota Access Pipeline. We encourage all Los Angeles consumers to move their money into local not-for-profit credit unions. To create a world centered on conscious economics, we must support people-driven, not profit-driven businesses.

We are calling on our elected city officials and all Los Angeles residents to take a stand for a socially conscious and ethical world and divest all funds from DAPL. Stand with the people and protect the planet. Divest for our future.

Sign the #DivestLA Change.org Petition to Defund DAPL.

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A new revolution is emerging… the rise of city power. By revolutionizing our cities and towns, the people can take direct action in the locales in which we work, commute and experience every day. By turning our city governments into bastions of enlightened progressive government, the people can leverage their resources to create real tangible improvements to the system. 



To radically change Washington will be an enormously daunting and complex challenge, especially in the Trump era. But we are not deterred. As the nation reaches a turning point, we are turning inwards with a local-first approach to revolutionary change. We can seize power right here and now, and mobilize a movement to create a direct impact on our city halls- spurring massive changes in legislation and direction. This revolutionary city strategy gives We the People the leverage needed to directly take on the big banks driving climate change by drying up the revenue streams of the fossil fuel industries. 



The Occupy movement expressed popular anger by occupying the streets. In the evolution of the resistance movement, we will channel popular anger by co-occupying and changing the direction of our governments. No longer will we stand on the periphery of city politics. Major cities such as Los Angeles have large accounts with the largest financial institutions that manage municipal assets to the tune of billions of dollars. We want to enact real and tangible change, to demand divestment from corrupt banking institutions and reinvestment with only the highest and most humane standards, with consideration to both people and planet. 



THE MOVEMENT: divestla.com

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HOW YOU CAN BE PART OF THE DIVEST LA MOVEMENT:

1.Call your city councilmember! We need your help to let our elected officials know that Los Angeles must divest and move the city’s funds into ethical banks! The added public pressure will help lock in a second co-signer on the ordinance to end the city’s relationship with Wells Fargo and amend the current Responsible Banking Ordinance.

This link has all the resources to find council districts, council member contact info, including their social media profiles.

Whether you call, email, or meet in-person, please be civil and respectful in your outreach. Here’s the script:

Hi my name is ____ and I live in the council member’s district. I’m calling in support for the campaign to Divest LA. We want our city’s funds in ethical financial institutions, not banks with a history of corrupt practices including financing the Dakota Access Pipeline. Divestment is an important tool to protect people from predatory banking, and ensure that the fossil fuel industry cannot profit from the destruction of our land and water. Los Angeles cannot continue to bank with Wells Fargo. I urge you to stand with Standing Rock and the people of Los Angeles and divest.

View and Download LA City Council Call Sheet PDF.

2. Take part in the #DivestLA hashtag visual campaign! Get a pic of yourself or your friends in front of one of the funding banks with a colorful eye-catching sign with the #DivestLA hashtag on it. Post and share it on your wall!

3. Sign and share the Divest LA Change.org petition: We've reached 2,500 signatures; help us get to our next goal of 5,000 sigs! We’re calling on Mayor Eric Garcetti and LA City Council to cut ties with Wells Fargo to defund DAPL, and protect consumers from unethical banking practices:

https://www.change.org/p/mayor-eric-garcetti-los-angeles-divest-from-dapl-divestla

4. Invite all your Facebook friends to like the Divest LA Facebook Page.

Move Your Money Guide – 7 Steps for Individual Divestment

LA County Credit Unions and ATM locations

Divestment Fact Sheet

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