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September 22, 2016

Yes Magazine: A Strategy to Stop the Funding Behind the Dakota Access Pipeline

The key Dakota Access loan, says Rainforest Action Network’s Amanda Starbuck, is still pending. It’s a multibillion-dollar line of credit, but only $1.1 billion of the loan can be doled out until the company “resolves certain governmental permits.” Citi, Mizuho, Bank of Tokyo MUFJ, and Mizuho Bank are leaders on that loan. 

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“Oil companies are always going to drill for oil and build pipelines—it's why they exist,” says RAN’s Scott Parkin. “But the banks funding this pipeline have a choice as to where they put their money. Right now, Citibank, TD Bank, and others have chosen to invest in a project that violates indigenous rights and destroys the climate.” (read more)

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