WASHINGTON, D.C. — The Bank of Labor's Washington, D.C., office today issued the following statement regarding recent actions by the National Consumers League protesting Wells Fargo's policy on mandatory arbitration.
“As a labor majority owned and operated bank, we enthusiastically welcome the National Consumers League as a client. The NCL's decision to withdraw its operating capital from Wells Fargo and open an account with Bank of Labor speaks not only to the mutual respect between our two organizations but also to our common focus on serving the needs of workers and promoting social justice.”
“The NCL is renowned for protecting the interests of consumers and workers. We are honored that they have entrusted their funds to Bank of Labor, where a customer's legal rights are not restricted by a policy mandatory arbitration common with many large Wall Street Banks.”
Headquartered in Kansas City, Kansas, Bank of Labor services unions and other progressive organizations and supports labor causes. Bank staff are represented by the United Mine Workers of America. Bank of Labor's new Washington, D.C., office at 815 N Connecticut Ave. NW (Connecticut Ave. and I (I [Eye St.] is less than one block from AFL-CIO Headquarters.