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Seattle dropped Wells Fargo over the Dakota Access Pipeline — then couldn’t find another bank

Seattle dropped Wells Fargo over the Dakota Access Pipeline — then couldn’t find another bank

The Seattle City Council voted last year to stop doing business with Wells Fargo because the bank funds the Dakota Access Pipeline, but the city may have gotten ahead of itself.

In February 2017, the Seattle City Council voted unanimously to cut ties with Wells Fargo.

The city cited Wells Fargo’s role in the Dakota Access Pipeline project, as well as the scandal over the bank opening accounts without customer knowledge as reasons for the move.

The move was celebrated at the time, and attendees at the city council meeting stood and cheered when the vote was complete.

As it turns out, numerous large banks have ties to the Dakota Access Pipeline, including some of the world’s largest banks, and Seattle struggled to find a financial institution that could meet all the city’s needs.

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