San Leandro: Council committee paralyzed over Wells Fargo contract

San Leandro city leaders are caught firmly between the desire of some councilmembers and progressive activists to completely divest from Wells Fargo, and a lack of viable options to replace the troubled institution as the city's banking services provider.. Nearly two years ago, San Leandro city officials directed staff to sell its $700,000 investment portfolio … Continue reading San Leandro: Council committee paralyzed over Wells Fargo contract

San Leandro: Staff favors contract with Wells Fargo, despite past protest

Since 2016, Wells Fargo Bank has been an angry touchstone among progressives because of its unscrupulous business practices and support for the Dakota Access Pipeline. The latter triggered a number of East Bay cities to seek divestiture from Wells Fargo in recent years. In November 2017, San Leandro sold $700,000 in investments with Wells Fargo, … Continue reading San Leandro: Staff favors contract with Wells Fargo, despite past protest