By lunchtime Tuesday we should know whether the Wells Fargo & Co. shareholders adopted a proposal to have the company conduct a racial-equity audit, an idea championed by a pension fund shareholder affiliated with the Service Employees International Union.
Wells Fargo and other big banks have recommended shareholders vote down these racial-equity audit proposals, a feature of this year’s annual shareholder meeting season.
The banks are likely to have the votes, but hopefully they don’t put the whole idea into a file and forget about it.
Author(s): Lee Schafer
Publication Date: 24 April 2021
Publication Site: Star Tribune