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)

  • Paul Hill

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    When are these people going to learn that this is NOT a gun issue. Fix our mental health system, fill all the holes in the background check system, and implement a nationwide reporting database so people don’t slip through the “cracks”.
    Exponentially more kids are killed by impaired/distracted driving than by firearms and I will climb off my little soap box before I broach the MILLIONS murdered since the passing of Roe vs Wade

    Reply

  • Maurice Rogerson

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    The word for such action is coercion, and as far I know, it is highly illegal.

    Reply

  • Bob

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    If Wells Fargo caves I will move my accounts.

    Reply

  • Chris

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    Who and the blue blazes of hell does he think he is. That pinko commie sack of shit needs to be tar and feathered and removed form this country. I’m sick of the anti gun dildos and their agenda. I’m a law abiding citizen who the hell are they to decide what I need and don’t need

    Reply

  • Scott Sharp

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    I know teachers and liberals love empirical data, so I’ve been conducting an experiment here at home for quite some time. I loaded one of my long guns and one of my handguns and put them next to the front door where they would have easy access to leave my home and go wherever they desired to wreak havoc and threaten whomever confronted them. The guns have been sitting there for nearly 12 years and have yet to make their move. I’m sure that what I’ve discovered is going to be a huge disappointment to the AFT and liberals everywhere. The guns don’t seem to be the issue. No matter how much I urge them to go and assault someone, they seem content to just sit there and do nothing – kind of like a lot of AFT members. GET A CLUE – guns don’t kill people – people kill people. What is the AFT going to urge legislation on next – ball bats, hammers, steak knives? What a bunch of idiots.

    Reply

  • Brent

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    Well, you either support free market or you don’t. You don’t have to like what a business does, but as long as it’s a private entity, you can’t complain about how they run their business or the choices they make. You can, however, not support businesses whose business practices you do not agree with. Welcome to democracy.

    Reply

  • Peter Oelschlaeger

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    As a teacher I fired AFT as my representative. AFT is to busy being unAmerican and not worrying about the real issues teachers worry about. Instead they push an agenda that is dangerous and damaging America. Just another organization that has abandoned its original purpose by becoming a fanatical political hack. Please Wells Fargo, tell them to mind their own business, it would be refreshing at several levels.

    Reply

  • Monte Williams

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    Do these idiot leftists know that thw original Wells Fargo defended banks monies and more with GUNS from stage Coaches, rail cars and ocean shipping lanes before any of them were alive??? If I were Wells Fargo I would tell them where shove their anti gun ideas.

    Reply

  • D C Harwood

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    WF’s mortgage program was set up to benefit both sides – WF and the teachers. If AFT terminates the program, they’re hurting their own members. This is known as “Cutting off your nose to spite your face.” There was a time when unions actually benefited the members. Now, they benefit the union leadership at the expense of the members.

    Reply

  • Athena Kozanitis

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    I don’t understand why the NRA is getting bad press. Drug companies kill more people and ruin more people’s lives with addiction than any other industry that has multiple lobbyists heading up their interest. Where is all the protesters and businesses against them. The NRA doesn’t kill, and lobbies to protect our rights to protect ourselves. The NRA helps schools and local police prevent school shootings by establishing safety zones and identifying areas on the grounds that cannot be seen on surveillance. The NRA promotes safety classes for gun owners. Do drug companies do anything for the people addicted to their drugs??

    Reply

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