Banks

How To Contact 17 Banks Funding Tar Sands Pipeline Expansion (Including Keystone XL)

May 16, 2017 James Trimarco, www.yesmagazine.org Resist! Banks, Divestment, Pipelines

By James Trimarco for Yes! Magazine - Of the more than 60 banks helping to finance the expansion of tar sands infrastructure, the indigenous-led environmental campaign Mazaska Talks has identified 17 as worst offenders. These banks have either financed all four currently proposed tar sands pipelines or they’ve headed up major multi-bank loans to the companies building them. The proposed pipelines are the Keystone XL, Energy East, Trans Mountain, and Enbridge’s Line 3. All four begin in the tar sands of Alberta, Canada. “Our thought is to be proactive and stop the construction of Keystone now.” Back in November 2015, then-President Barack Obama rejected TransCanada’s application to build the Keystone XL pipeline, saying it would create only a few dozen permanent jobs, would have no significant effect on U.S. energy security, and would damage America’s leadership role on climate change. President Donald Trump reversed that decision in March. The indigenous-led Mazaska Talks campaign to stop the tar sands expansion is focusing on the financing of the pipelines.

US Bank To Stop Funding Pipelines As Divestment Movement Expands Worldwide

May 16, 2017 Nika Knight, www.commondreams.org Resist! Banks, Divestment, Pipelines

By Nika Knight for Common Dreams - As a nearly ten-days-long global mobilization calling for divestment from fossil fuels comes to an end, climate campaigners are celebrating a major victory stateside: U.S. Bank has announced that it will no longer finance fossil fuel pipeline construction. "Move to a green economy and a future that does not profit off the destruction of Mother Earth and our communities." —Tara Houska, Honor the EarthThe announcement came during the company's April shareholder meeting, reported MN350, a state arm of international climate justice group 350.org, on Monday. As a result of the new policy, MN350 observes that the bank will no longer provide "project financing for the construction of oil or natural gas pipelines," and will also apply "enhanced due diligence processes" to oil and gas industry clients. "U.S. Bank's new policy is an important step in protecting the environment and moving towards a fossil free future," said Wichahpi Otto, a MN350 volunteer, who attended the shareholder meeting in Nashville. "We applaud them for responding to the community and contributing to worldwide efforts to address climate change."

Gusher In The Lobby

May 12, 2017 Reverend Billy Talen, www.revbilly.com Resist! Banks, Oil, Protests

By Reverend Billy Talen for The Stop Shopping Choir - Why is the stain of the oil giving us such a jolt? We all notice it. Today when Amadeus lay back on the floor of the bank and the crude oil stains her, the security guard shouts into his walkie-talkie like she's a new species of vampire. Al is rumbling in his low voice, “Take your money out of TD. They put 360 million into the Dakota Access Pipeline…” David pours the anointing oil, the blood of the Earth on the vampiress… An investor at a desk in the corner sat there with his head in his hands like he’s going to be sick. Police cars drive by on 14th Street; no-one gets out. The bank manager accuses us of defacing her bank with our flyers. But the tellers - they are smiling. And we are harmonizing, “Earthalujah! This is our fourth Oily Banking action, and we invite you to try it. We leave in under ten minutes, cleaning up after, throwing a coat over our walking drip painting. The action is a sticky gash in hushed altar of banking. That blind gap between us and the fatal crimes that our money becomes is religiously maintained. It is an information gap but it is also a deadening of our feelings. It is a virulent form of fundamentalism.

Court: Cities Can Sue Banks Over Discriminatory Practices

May 5, 2017 Bill Chapell, www.npr.org Resist! Banks, Cities, discrimination

By Bill Chapell for NPR - The city of Miami can sue Wells Fargo and Bank of America for damages under the Fair Housing Act, the Supreme Court says, allowing a lawsuit to continue that accuses the big banks of causing economic harm with discriminatory and predatory lending practices. The 5-3 vote saw Chief Justice John Roberts form a majority with the court's more liberal justices. Justice Anthony Kennedy, widely seen as the court's "swing" justice, sided with Justices Clarence Thomas and Samuel Alito. The court's newest justice, Neil Gorsuch, wasn't involved in the case. After lower courts had issued back-and-forth opinions on whether Miami's lawsuit should continue, the Supreme Court says the city should be allowed to make its case. "But the justices said that to win damages, the city must prove a direct link to the revenue loss and increased costs," NPR's Nina Totenberg tells our Newscast unit, "and that is an extremely high bar to clear." The ruling comes nearly two years after the Supreme Court sided with civil rights groups who argued that, as we reported, "claims of racial discrimination in housing cases shouldn't be limited by questions of intent."

A Bank Even A Socialist Could Love

April 22, 2017 David Dayen, www.inthesetimes.com Create! Banks, Public Banking

By David Dayen for In These Times - “Money is a utility that belongs to all of us,” says Walt McRee. McRee is a velvety-voiced former broadcaster now plotting an audacious challenge to the financial system. He’s leading a monthly conference call as chair of the Public Banking Institute (PBI), an educational and advocacy force formed seven years ago to break Wall Street’s stranglehold on state and municipal finance. “This is one of the biggest eye-openers of my life,” says Rebecca Burke, a New Jersey activist on the call. “Once you see it, you can’t look back.” This ragtag group—former teachers, small business owners, social workers— wants to charter state and local banks across the country. These banks would leverage tax revenue to make low-interest loans for local public works projects, small businesses, affordable housing and student loans, spurring economic growth while saving people—and the government—money. At the heart of the public banking concept is a theory about the best way to put America’s abundance of wealth to use. Cities and states typically keep their cash reserves either in Wall Street banks or in low-risk investments. This money tends not to go very far.

Concerned About Climate Change? Change Where You Bank!

April 20, 2017 Todd Larsen, www.otherwords.org Resist! Banks, Climate Change

By Todd Larsen for Other Words - At the end of April, hundreds of thousands of people will take part in the People’s Climate March in DC and around the country. The march will send a clear message that the majority of Americans understand that climate change is all too real — and they’ll continue to raise their voices until the government takes action. The march is also a great way to inspire people to take action for climate solutions in their own communities — whether by calling their elected officials or speaking up at town halls, pushing their local and state governments to act, or working with schools and houses of worship to address the climate crisis without waiting for Washington. If all that’s not for you, there may be an even simpler option: Move your money. Many people might not realize that their savings may be working directly against efforts to address climate change. If you bank with any of the largest American banks — including Citibank, Bank of America, and Wells Fargo — then every dollar you put in to your checking and savings accounts is funding fossil fuel development across the country.

Keystone XL Opponents Target Banks Funding Climate Destruction

April 17, 2017 Lauren McCauley, www.commondreams.org Resist! Banks, Climate Change, Keystone XL

By Lauren McCauley for Common Dreams - Kicking off a week of actions targeting the institutions financing the controversial Keystone XL (KXL) tar sands pipelines, activists on Saturday protested at banks in 25 cities to shine a spotlight on the roll they are having on climate destruction. "It's back—and so are we," reads the call to action. After fierce nationwide opposition forced the Obama administration to halt the project, President Donald Trump has given it the green light and the climate movement has vowed to fight it once again. The peaceful demonstrations are "designed to shine a spotlight on the the four key financial institutions bankrolling the KXL pipeline— Citibank, JPMorgan Chase, Wells Fargo, and TD Bank—and pressure them and the broader financial community to pull out and 'defund' the project," said the Rainforest Action Network, which is organizing the week of protest. In addition to demonstrating outside banks, activists across the country are also planning a banner drop in Los Angeles and a protest targeting local government in San Franciscothroughout the week of action, which will culminate on Earth Day. Find an action near you here.

Kochs Bankroll Move To Rewrite The Constitution

March 27, 2017 Staff, www.exposedbycmd.org Educate! Banks, Constitution, Koch Brothers

By Staff of Exposed for CMD - A constitutional convention, something thought impossible not long ago, is looking increasingly likely. Under Article V of the U.S. Constitution, if 34 state legislatures “issue a call” for a constitutional convention, Congress must convene one. By some counts, the right-wing only needs six more states. Once called, delegates can propose and vote on changes and new amendments to the U.S. Constitution, which, if approved, are currently required to be ratified by 38 states. There are two major legislative pushes for a convention at the state level. One would attempt to engineer a convention for a balanced budget amendment only...

Spain Sets Massive Precedent — Charges Its Central Bankers In Court

February 22, 2017 Claire Bernish, www.activistpost.com Resist! Banks, Courts, Spain

By Claire Bernish for Activist Post - First, Iceland, and now Spain has taken on the Big Bankers responsible for financial calamity, as the country’s highest national court charged the former head of Spain’s central bank, a market regulator, and five other banking officials over a failed bank leading to the loss of millions of euros for smaller investors. This, of course, markedly departs from the mammoth taxpayer giveaway — commonly referred to as the bailout — approved by the U.S. government ostensibly to “save” the Big Banks and, albeit unstated, allow the enormous institutions to continue bilking customers without the slightest fear of penalty. Errant bankers and financiers, it would seem, typically manage to either evade actually being charged, or escape hefty fines and time behind bars. Spain’s Supreme Court last year ruled “serious inaccuracies” in information about the listing led investors to back Bankia in error, thus the bank has since paid out millions of euros in compensation.

Four Arrested In Pipeline Protest

February 20, 2017 Lucy Gellman, www.http://newhavenindependent.org/ Resist! Banks, Pipelines, Protests

By Lucy Gellman for New Haven Independent - protesters chained themselves together to block TD Bank’s doors at rush hour Tuesday and spread a Valentine’s Day message: If you love the environment, take your money elsewhere. The demonstration took place beginning at 4:20 p.m. outside of TD Bank on Chapel Street downtown. It was part of a larger protest for which 50 or so New Haveners showed up, voicing their support for water protectors at North Dakota’s Standing Rock reservation a day after a federal judge denied a stay request from Native American Tribes trying to halt construction of the $3.7 billion, 1,172-mile Dakota Access Pipeline. This marks the latest of the local protesters’ divestment-geared efforts, which have included downtown rallies each month since October.

Seattle City Council Committee Votes To Divest From Pro-DAPL Bank

February 2, 2017 Emma Niles, www.truthdig.com Resist! #NoDAPL, Banks, Divestment, Seattle

By Emma Niles for Truth Dig - Council Bill 118883 was proposed by Kshama Sawant, the only socialist member currently sitting on Seattle’s City Council. “If Seattle divests from Wells Fargo, it will greatly fuel the inspiring nationwide struggle against the Dakota Access pipeline and the oil lobby,” Sawant said at a rally prior to Wednesday’s vote. “I urge council members to support this legislation as part of Seattle’s fightback against Trump and the billionaire class.” The legislation passed the finance committee Wednesday and, according to Sawant, will go to Seattle’s full City Council for a vote on Feb. 6. Still, many saw Wednesday’s vote as a decisive victory.

Former World Bank Staffer: Neoliberalism Is Destroying The World

January 20, 2017 Dylan Charles, www.activistpost.com Educate! Banks, Neoliberalism

By Dylan Charles for Activist Post - More destructive than bombs, money has become the weapon of choice for the global elite, for the hidden hand of finance can plunder and conquer entire nations, assimilate whole cultures, exploit resources and rape the earth while forcing billions into poverty, all with the surprising stealth of pen-strokes and business contracts. Neoliberalism is the economic and political philosophic driving force in the world today. It suggests that human progress is the result of competition, best expressed by an extremist version of unfettered capitalism, where privatization of profits and socialization of losses are acceptable ethics, regardless of human and environmental costs incurred along the way.

How To Demand That Your Bank Stop Funding DAPL

December 23, 2016 Collin Ruffino, www.theleapblog.org Resist! #NoDAPL, Banks, Pipelines

By Collin Ruffino for The Leap - I recently became aware that Citibank has provided a significant portion of the financing to Energy Transfer Partners for the construction of the Dakota Access Pipeline. I am writing to urge you to divest from this destructive and unethical project and to cease the financing of all other current and future projects that do not respect native sovereignty or that require the continued extraction and burning of fossil fuels. I have been a Citibank customer for X years and will be closing my accounts with your bank and urging others to do so until there is positive action on the part of Citigroup.

Solidarity Protesters Lock Down At TD Head Office Over DAPL

November 26, 2016 Syed Hussan, www.facebook.com Resist! #NoDAPL, Banks, Oil and Gas, Pipelines

By Syed Hussan. Toronto, Canada, Nov. 25, 4:30pm - EST - Three protesters locked their necks to railings inside TD Head office today as native land protectors and allies rallied and drummed outside the bank. Anglican ministers Maggie Helwig and Andrea Budgey, and activist Taylor Flook asked to speak with Bob Dorrance, Chairman, CEO and President of TD Securities asking why he had not yet made a statement condemning the attacks on peaceful land defenders occupying their treaty territory in North Dakota. Protesters are targeting TD in solidarity with water protectors at Standing Rock in North Dakota, where thousands of land defenders are blocking construction of the $3.8 billion Dakota Access Pipeline (DAPL). TD Securities, a subsidiary of TD, has been targeted by protests in recent weeks after the bank was identified as one of the largest funders of the controversial pipeline.

DAPL Profiteer TD Bank Shut Down In Boston

November 14, 2016 Steve Ahlquist, www.rifuture.org Resist! #NoDAPL, Banks, Boston, Dakota Access Pipeline

By Steve Ahlquist for RI Future - The FANG Collective targeted a TD Bank branch in downtown Boston early Thursday, shutting down operations there for over two hours. Two activists used bike locks to lock their necks to the door handles at the entrance of the bank, while two other people connected to them with lock boxes. Police, swat teams and fire fighters arrived at the scene and spent hours cutting through the lock-boxes and bicycle locks. All four people were eventually extracted and arrested.

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