Wells Fargo is urging Portland Mayor Ted Wheeler to make a "well-informed" decision after he Tweeted that he would consider taking the city's banking elsewhere in an effort to discourage the bank's role in financing the controversial Dakota Access Pipeline.

Wells Fargo values its "long-standing business relationship with the City of Portland," bank spokesman Tom Unger said in a statement to The Oregonian/OregonLive.

Unger noted that Wells Fargo is among 17 banks financing the pipeline and his firm's loan represents less than 5 percent of the project's total funding.

"We would hope that the city makes a well-informed decision based upon the millions of loans we make to consumers, small businesses and larger companies, as well as the millions of dollars in support Wells Fargo has provided the local community, and not because of a single loan to a company far from the city limits," Unger said.

In a Wells Fargo document about its Dakota Access Pipeline involvement, the bank says it is leveraging its position to encourage discussion between the Standing Rock Sioux Tribe and Energy Transfer Partners, the natural gas and propane company responsible for developing the pipeline. It says Wells Fargo representatives have met with members of the Standing Rock Sioux Tribe, which opposes the pipeline's development because of concerns it could harm their water and sacred sites.

"We are using our position as one of the financing institutions to encourage the customer to engage constructively with opposing parties toward a more positive outcome," the document says.

Members of the Standing Rock Sioux Tribe could not be reached for comment.

--Jessica Floum

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