Wells Fargo Given Ultimatum: No Business With NRA, Gun Companies Or…

By Dave Dolbee published on in News

The American Federation of Teachers (AFT) President Randi Weingarten is in negotiations to meet with Wells Fargo CEO Tim Sloan. The AFT’s purpose is to deliver an ultimatum regarding the bank’s ongoing financial support for the gun lobby and gun manufacturers. The AFT has publically taken the position that if Sloan continues Wells Fargo’s support of firearms businesses, the AFT will discontinue its popular Wells Fargo mortgage program offered to members.

Wells Fargo Bank red and yellow logo

Last week, the AFT released correspondence between Weingarten and Sloan. The release outlined the union’s concerns about Wells Fargo’s connections with the NRA—as well as its threat to stop offering Wells Fargo mortgages, if Wells Fargo continues being the NRA banker. The Wells Fargo mortgage program is part of the Union Privilege program and approximately 1,600 AFT members have opted for these mortgages annually.

More than 20,000 AFT members currently hold mortgages through the program. If Wells Fargo fails to budge, the AFT will urge other Union Privilege members to follow suit. The AFL-CIO was copied on the correspondence.

AFT President Randi Weingarten said: “The lives of students and educators must be valued more than guns. This is America—Wells Fargo has the right to be the NRA banker, but we have rights too. That’s why if Tim doesn’t ditch his guns business, we’ll ditch Wells Fargo. We are glad Tim wants to meet; but no words will dissuade us from our view that our society must value people over profits. We have a responsibility on behalf of our members and their students who face potential gun violence every day.

“We’re issuing Wells Fargo an ultimatum—they can have a mortgage market that includes America’s teachers, or they can continue to do business with the NRA and gun manufacturers. They can’t do both.”

I wonder how the members of the AFT feel about the move. I mean, did the membership vote for this? How many gun owners are by the default of their position members of the union, which is poorly representing their views based on the beliefs or politics of a few top leaders?

What do you think Wells Fargo CEO Tim Sloan should, or will, do at the meeting? Will this affect your banking relationship with Wells Fargo in the future? Share your answers in the comment section.

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Comments (454)

  • David H

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    Personally I don’t care what aft wants. I never heard of them till this article.

    If wells Fargo values customers & their safety. They will not cave in.
    As this is just a political agenda for Soros and the democrats.

    I respect the police but I can not count on them. As I know it’s impossible for them to fit in my pocket and protect myself or my family.

    Reply

  • Richard

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    I wonder if the Teachers Union leadership consulted with their members? I know a lot of teachers who are also gun owners.

    Reply

  • Geno Bouwens

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    We all have to stick together and shut down this onslaught of communist aggression to our Constitution. Why is it they are constantly getting their word out and we the People are kept silent? We must fight back before it is to late.

    Reply

  • Jim

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    You know it’s hard to believe that an American citizen would be willing to give up any rights. I’d like to be around when somebody decides they want what you have and you have absolutely no way of defending yourself. By the time the police get to you they will be doing investigation on what happened . It would never be they arrived and saved your life or stopped the beating that you just got. Wise up Brother before it’s too late. Just because you’re afraid of guns that doesn’t mean everybody else is. Properly trained people are the best thing since sliced bread in a gun situation. They never write a report on how many lives are saved because the home owner or the person was armed.

    Reply

    • joefoam

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      recently published studies by the CDC peg the number of dgu’s at 500k to 3mm per year, but you won’t read that anywhere

      Reply

  • Docduracoat

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    Wells Fargo will be the target of a gun owners boycott if they cave in to the teachers union
    Yeti just decided not to sell products to the NRA
    Everyone needs to buy Coleman products instead

    Reply

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