Erik McGregor Photography

Erik McGregor is a New York City based artist, photographer and activist.

#NoDAPL Wells Fargo encampment in NYC to urge divestment of city funds from Wells Fargo and other banks financing the Dakota Access Pipeline

New York – Indigenous Peoples and allies organized an overnight protest encampment on April 5, 2017; at the Wells Fargo branch at 463 Broadway (between Grand and Broome Streets) in New York City. The action is to urge Mayor de Blasio and Comptroller Stringer to join cities across the country and divest city funds from Wells Fargo and other banks financing the Dakota Access Pipeline that threatens our environmental future and the lands and lives of the Standing Rock Sioux.  The overnight protest encampment started at 5:30 pm on Wednesday, April 5, 2017; at the Wells Fargo branch in Soho.

The Dakota Access Pipeline destroys sacred land of the Standing Rock Sioux; violates the 1851 Treaty of Fort Laramie; threatens to pollute the drinking water of 17 million people; and fuels climate change by funneling 400,000 barrels of fracked oil to market each day.  The Indigenous Peoples and allies called on the City leaders to do more than offer supportive words, and actually punish the banks financing Dakota Access and other destructive pipeline projects. 

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On the morning of April 6, 2017; the #NoDAPL encampment at Wells Fargo conducted a protest march to City Hall and then a rally.  The protest march began at Wells Fargo at 463 Broadway at 9:30am and reached City Hall for a rally at the City Hall steps with women’s rights leader and activist icon Gloria Steinem at 10:00am. The Indigenous leaders issued a moral call on the New York City Mayor Bill de Blasio, as well as the New York City Comptroller Stringer to end the city’s business with and investments into Wall Street banks attacking Native Nations. 

“The Dakota Access Pipeline, Keystone XL, the Pilgrim Pipeline here in New York State, all violate the rights of Indigenous Peoples and Mother Earth.  Wells Fargo has provided over $3 billion in financing for the companies behind DAPL, and five tar sands oil pipeline projects.  Mayor de Blasio should not support these type of projects; it is time to pull NYC funds from Wells Fargo.”  explained Betty Lyons (Onondaga Nation), President & Executive of the American Indian Law Alliance.  “Mother Earth doesn’t need another pipeline, she needs a lifeline.” 

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Wells Fargo also perpetrated a massive consumer fraud, manufacturing roughly 2 million bank accounts without customers’ consent. When the fraud was exposed by activists and the Consumer Protection Financial Board, the company fired 5,000 workers, but shielded its top executives.  For example, CEO Stumpf, who retired from the company, was awarded $83 million in compensation in 2016 despite presiding over the massive fraud.  

“The violation of the environment and long-standing Nation to Nation treaties at Standing Rock has galvanized millions of caring people,” said Rick Chavolla (Kumeyaay), Chair of the Board of the American Indian Community House. “In solidarity, New Yorkers expect Mayor De Blasio and the Comptroller to take action that protects all of our futures. It’s morally wrong for NYC funds to continue to perpetuate hundreds of years of violations of treaty rights and destruction of Indigenous Peoples’ lands, territories, and waters.” 

>>CLICK HERE TO SEE MORE PHOTOS<<

New York City has extensive business and investments with Wells Fargo, including:  

* Wells Fargo was the counterparty on interest rate swaps on $350 million in municipal bonds business. 
* Wells Fargo reaps benefits from City business, such as $96,000,000 returns paid out over 15 years to Wells Fargo for NYCHA Tax Credit investment  
* NYC is in the process of entering into a $1,338,722 five-year contract that would commence in July, 2017 for credit card processing services.   
New York City also invests in Wells Fargo through its pension funds. The NYC Employee Retirement System (NYCERS) alone, one of the city’s five funds, has $171,503,795 in equity investments (stocks), making it NYCERS’s 13th largest equity investment.  The fund also holds $32,463,056 in bonds. 

#Activism #AICHNYC #AILANYC #DakotaAccessPipeline #DefendTheSacred #DefundDAPL #divest #DivestDAPL #encampment #FossilFree #IndigenousRights #IndigenousRising #KeepItIntheGround #mniwiconi #NewYork #NoDAPL #NoPipelines #NYC #NYC2StandingRock #PeacefulProtest #PeacefulResistance #ProtectTheSacred #resistenciaindigena #RiseWithStandingRock #‎Solidarity #StandWithStandingRock #StopTheBlackSnake #StopThePipeline #WaterIsLife #WaterProtectors #WellsFargo

© Erik McGregor – erikrivas@hotmail.com – 917-225-8963


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