NYC Mayor Threatens Bank Over Dakota Pipeline

After mega-bank Wells Fargo committed funds to the completion of the Dakota Access Pipeline, New York City Mayor Bill de Blasio sent a letter to the bank’s CEO, a note comprised of passive-aggressive threats.

Postmarked for CEO Timothy Sloan, de Blasio conveyed his “deep concern about [Wells Fargo’s] involvement, and the involvement of other banks, in financing the Dakota Access Pipeline.”

Attributing his compassion for the “human and tribal rights of the Standing Rock Indian Reservation,” de Blasio expressed his desire for Wells Fargo to stand for “profitable clean energy projects.” De Blasio also made it known in his letter that his mayoral standing leaves him as someone in control of close to 700,000 “long-term investors” of the bank’s New York City customers.

“As someone with a leadership role in funds that are long-term investors in shares of your bank, I am profoundly troubled by the risks you are taking by involving your institution in this controversial project,” de Blasio write. “Beyond the potential direct financial costs to the bank if Energy Transfer Partners is unable to repay the financing you have provided for the pipeline, I am apprehensive about the risks to your reputation.”

Following President Donald Trump’s promise to complete the long-delayed pipeline, cities such as Seattle have voted to do away with Wells Fargo since its monetary investment in the project.

H/T: The Daily Caller

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