Last October, NOC members made a presentation to the Minneapolis Public School Board asking them to move their money out of Wells Fargo. We gave them plenty of reasons: Wells Fargo's reckless foreclosure crisis was destabilizing MPS students' families and costing the district a lot of money. Wells Fargo's international investment portfolio drains money out of local community, instead of investing in our neighborhoods to create jobs for Minneapolis Public School graduates. Wells Fargo's investments in privatized prisons fail to reflect our community values. Wells Fargo actively lobbies against taxes that would fund our schools and fund services our kids need. We shouldn't be giving them access to our public funds. Hundreds of parents, teachers, and activists came together to make the demand. More than 12,000 people signed our petition.
Now, we have great news: The Star Tribune reported last week that the Minneapolis Public Schools is moving forward with a new competitive bidding process for banking services. Once they looked more closely at it, they learned that banking with Wells Fargo not only wasn't representative of our values, but it didn't make any financial sense.
Tuesday, we'll return to the school board to thank them for moving forward, and to make sure they know we're still paying attention, and that we want to make sure that community impact factors heavily into their decision about which bank to move their accounts to next. Join us as we show the strength of community support for putting our money where our values are.
We'll rally outside at 5:00, and then make our presentation during the public comment period from 5:30 - 6:00. See you there!
807 Broadway Ave NE
Minneapolis, MN 55413
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