Mille Lacs Band splits business from Wells Fargo

The Mille Lacs Band of Ojibwe Indians announced Friday it had ended its investment advisory services relationship with Wells Fargo. The decision, made unanimously by the Mille Lacs Band of Ojibwe Indians Band Assembly and Chief Executive Melanie Benjamin, was in response to Wells Fargo's unethical business practices and the financing the bank provides to Energy Transfer Partners, according to a news release. The Mille Lacs Band ended the relationship effective Jan. 6. Wells Fargo has lent hundreds of millions of dollars to Energy Transfer Partners to finance the construction of the Dakota Access Pipeline; the bank has also admitted to defrauding its customers by opening thousands of unauthorized accounts to meet internal sales goals, the release said, adding there were other negative practices by Wells Fargo throughout Indian Country that also contributed to the Band's decision.

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