Bank Reform Activists and Native American Protectors Join Forces to Hold Banks Accountable for Environmental and Consumer Fleecing

PRESS RELEASE

FOR IMMEDIATE RELEASE

November 9, 2016

 

Bank Reform Activists and Native American Protectors Join Forces to Hold Banks Accountable for Environmental and Consumer Fleecing

New Coalition Links Banking and Environmental Concerns: Scores of Solidarity Protestors Rally at Citibank to Demand They Stop Funding the Dakota Access Pipeline.

Contact: Maria Loya (310) 383 4545

Los Angeles, Ca.- On Thursday, November 10, 2016 from 12:30 to 1:30pm a newly formed coalition of bank reform activists, environmentalists and Native American rights leaders will hold a demonstration in front of Citi Bank (1900 Sunset Blvd. LA CA. 900026) to demand a divestment of financial support for the Dakota Access Pipeline. “Corporations and banks must be held accountable for the decisions they make that threaten Mother Earth and our water supply. As the saying goes: think globally and act locally, we stand united as native people with all Americans who understand what is driving these irresponsible developments: an addiction to fossil fuels, greed and investor profits,” stated Chrissie Castro, Los Angeles Indigenous Peoples Day Coalition.

The Los Angeles Committee for Better Banks, Alliance of Californians for Community Empowerment, SEIU-United Service Workers West, Native Voice Network, Sacred Places Institute for Indigenous Peoples, Semillas del Pueblo, American Indian Community Council

and the Los Angeles Indigenous Peoples Day Coalition are working together to bring awareness to the connection between predatory banking practices and the banks role in financing the controversial Dakota Access Pipeline or DAPL. According to research by Food & Water Watch, the investigation reveals the dozens of financial institutions that are bankrolling the Dakota Access pipeline. The banks are working together with a Energy Transfer—Energy Transfer Partner project to convert an existing pipeline that would connect to the south end of the Dakota Access pipeline and run oil all the way down to the Gulf Coast, where there are refineries and also export infrastructure.

“Citibank has one of the largest shares, and they’ve spearheaded the DAPL effort. We applaud the Los Angeles City Council for passing a resolution against the DAPL and we hope to strengthen this resolution by holding banks accountable.  Now more than ever communities of color need to work together for justice and accountability,” says David Huerta from SEIU- USWW.

The banking industry led by Citibank continue to fund the Country’s dependence on fossil fuels rather than transition to renewable energy. “Citibank should not be funding a dirty energy project that will contaminate Native people’s land and water. This is not a responsible investment. As people impacted by the big banks’ abusive practices, we stand in solidarity with the Water and Land Protectors of North Dakota,” said Beverly Roberts, chairperson of the ACCE Home Defenders League.

Citibank is the bank that’s been running the books on the project, and that’s the bank that got other banks to invest in the project. Other banks include: Wells Fargo, BNP Paribas, SunTrust, Royal Bank of Scotland, Bank of Tokyo-Mitsubishi, Mizuho Bank, TD Securities, ABN AMRO Capital, DNBFirst Bank—and that’s actually a bank based in Philly; it’s not the DNB Bank based in Norway, which is actually provided several hundred million to the Energy Transfer family separately—and ICBC London, SMBC Nikko Securities and Société Générale.