• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

SEIU: Banks should help struggling Minnesota schools

Service Employees International Union Local 284 Executive Director Carol Nieters has called on banks like Wells Fargo and Minneapolis-based U.S. Bank to help Minnesota schools who will be forced to borrow money following this week’s budget deal to end the state government shutdown.

“As details of the state budget bills emerge, the real winners are becoming clear: corporate special interests – especially banks – and multi-millionaire CEOs,” Nieters said in the statement released Wednesday.

The statement sharply criticizes GOP legislators for choosing to “use irresponsible one-time borrowing that put the burden, literally, on our children, in monies borrowed from our schools and junk bonds borrowed against future tobacco settlement revenues” rather than increasing taxes on the state’s multimillionaires.

Nieters said St. Paul Public Schools will now be forced to borrow $30 million, which could end up costing the district at least $450,000 in interest and fees.

So the SEIU has asked Wells Fargo and U.S. Bank to offer to waive interest and fees on “borrowing forced on our schools by these GOP budget gimmicks.”

“To do otherwise would be shameful,” Nieters wrote. “We bailed out the banks – now it’s time they recognize their role in helping the communities they serve.”

SEIU members rallied in the rotunda of the state Capitol Thursday to speak out against the budget deal.

Wells Fargo did not comment on whether it would consider waiving interest and fees on the loans.

“For all Wells Fargo lending, we work directly with our customers and follow all rules and regulations that ensure fair and responsible lending,” Wells Fargo spokeswoman Peggy Gunn said in an email to the Minnesota Independent.

U.S. Bank has not responsed to requests for comment.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.