Question: Why does moving your money from a large centralized bank to a local bank help stop funding environmental destruction? Answer: Banks use your deposits as lending power. Nuclear, coal and other environmentally devastating projects get the loans they need from our deposits in the centralized banks that underwrite them, including Bank of America, Wells Fargo, CitiBank, Chase and others. When you put your money in a local bank, they use it to loan to local projects. This helps the environment because your money can fund solutions in your own community while it defunds problems around the world.
Posted on: Tue, 22 Oct 2013 05:34:57 +0000
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