shareholder proposal · 2022
Service Employees International Union (SEIU) at Wells Fargo
Commission a third-party racial equity audit examining how the bank's policies and practices affect communities of color.
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What happened
Result: Rejected as Proposal 10 at the April 26, 2022 annual meeting: 1,033,495,599 for, 1,828,552,352 against, 29,764,513 abstentions and 361,311,531 broker non-votes, which Wells Fargo reported as 35.74 percent of the votes cast for, against and abstaining. Excluding abstentions that is the 36 percent American Banker reported, up from 13 percent in 2021.
Wells Fargo commissioned law firm Covington & Burling to conduct a third-party racial equity audit and committed to publishing results by the end of 2023.
Who is involved
- Service Employees International Union (SEIU) filer
- Wells Fargo company
What this campaign is about
- Equality before the law and equal protection Necessary · Universal Declaration of Human Rights