Press Conference: San Francisco Supervisors Introduce Resolution to Sanction Wells Fargo

In response to Wells Fargo’s recent fake account settlement (and many previous settlements), and a lackluster response from the bank to the scandal, San Francisco Supervisors John Avalos and Jane Kim will hold a press conference tomorrow, announcing a new motion directing the City and County of San Francisco to cut business ties with Wells Fargo Bank.

Supervisors Avalos and Kim will be joined by community leaders and advocates who have spent years urging Wells Fargo to change business practices that have harmed Wells Fargo customers and Wells Fargo employees.

Treasurer José Cisneros will speak about the City’s socially responsible commercial banking policy, his decision to suspend Wells Fargo from the Bank On San Francisco program, and resources set up to assist San Franciscans affected by bank fraud.

Representatives from the Alliance of Californians for Community Empowerment (ACCE), the California Reinvestment Coalition, and CalPIRG will also speak at the press conference.