Drop Wells Fargo From Central Alabama Pride
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Last summer, Wells Fargo sponsored Central Alabama Pride. This year, that relationship needs to end. Wells Fargo doesn’t support the LGBT+ community, they’re just using us to paint over their exploitative, racist, and violent lending practices. By partnering with them, Central Alabama Pride is complicit in that exploitation. It’s time for us to stand up and fight back against corporate pinkwashing. It’s time to #DropWellsFargo!
Wells Fargo Engages in Racist Lending
Nationwide, black borrowers are three times more likely to receive sub-prime instead of prime loans from Wells Fargo than similarly situated white loaners. This practice burdens black folks with debt, reinforces segregation, and causes needless foreclosures and evictions. Combating racism and housing discrimination should be a top priority of the community, especially in Alabama where LGBT+ people aren’t protected from discrimination.
Wells Fargo Invests in Private Prisons
As of 2016, Wells Fargo has loaned almost eighty million dollars to Core Civic (formerly CCA), and over seven hundred million dollars to GEO Group. These are the two largest Private Prison companies in the country, and are known for corruption and horrific living conditions in their facilities. These loans also help to build ICE processing centers which are used to deport immigrants. When Wells Fargo invests in prisons and ICE facilities, they’re profiting off a system where LGBT+ People, People of Color, and People with Disabilities are targeted, abused, and murdered.
Wells Fargo Funds Oil Pipelines
Wells Fargo has spent over $120 million on the Dakota Access Pipeline. This pipeline is being built illegally on Standing Rock Sioux land and threatens to destroy the water supply that the tribe relies on. Wells Fargo also funds helps to fund the construction of many other pipelines, including Keystone XL, Line 3, the Bayou Bridge Pipeline, the Atlantic Coast Pipeline, and others.
We demand that Central Alabama Pride:
- Immediately revoke Wells Fargo’s sponsorship.
- Not allow Wells Fargo to march in the parade, have a booth at Pride Fest, or advertise at any CAP event.
- Withdraw all CAP funds from Wells Fargo and open an account with a bank or credit union that doesn’t invest in oil pipelines. Information on banks connected to pipelines can be found at MazaskaTalks.com
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