Wells Fargo costs Minneapolis Public Schools $28 million

The Issue

The foreclosure crisis has drained $150 million from the Minneapolis Public Schools. Wells Fargo bank is responsible for nearly 20% of this ($28 million) as well as making a disproportionate number of equity-stripping subprime loans to people of color in Minneapolis. The negative impact of these actions is now evident to people not just in here in Minneapolis and not just in education but in all aspects of our lives across the entire country. We think that, therefore, it is just and fair to ask the Minneapolis Public Schools move their checking account ($20 million per month for payroll) from Wells Fargo into a responsible community bank.

This petition had 11,859 supporters

The Issue

The foreclosure crisis has drained $150 million from the Minneapolis Public Schools. Wells Fargo bank is responsible for nearly 20% of this ($28 million) as well as making a disproportionate number of equity-stripping subprime loans to people of color in Minneapolis. The negative impact of these actions is now evident to people not just in here in Minneapolis and not just in education but in all aspects of our lives across the entire country. We think that, therefore, it is just and fair to ask the Minneapolis Public Schools move their checking account ($20 million per month for payroll) from Wells Fargo into a responsible community bank.

The Decision Makers

Alberto Monserrate
Alberto Monserrate
Minneapolis School Board member
Jenny Arenson
Jenny Arenson
Minneapolis School Board member
Rebecca Gagnon
Rebecca Gagnon
Minneapolis School Board member
Lydia Lee
Lydia Lee
Minneapolis School Board member
Richard Mammen
Richard Mammen
Minneapolis School Board member

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Petition created on October 11, 2011