Wells Fargo has been particularly active in the private prison venture (“A Call to Conversion,” by Sheldon C. Good, December 2012). That policy—along with its refusal to refinance mortgage loans while continuing to foreclose on thousands—is why my family is planning to join the nationwide Move Your Money movement. It takes some effort to divorce from a bank when we do online banking and deposits. But we’re moving—we’ve already moved some—to a credit union that invests in the local economy and shares more of our values. Banks have gotten too comfortable thinking that they have our eternal loyalty, no matter what they support or how they handle employees.
Here in Denver, Wells Fargo employees were warned that if they spoke to the press about Wells Fargo’s negative involvement in immigrant deportation, they would be fired. I got that directly from a bank worker who was assisting me.