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.

Tags: ,

Trackback from your site.

The mission of Cheaper Than Dirt!'s blog, "The Shooter's Log," is to provide information-not opinions-to our customers and the shooting community. We want you, our readers, to be able to make informed decisions. The information provided here does not represent the views of Cheaper Than Dirt!

Comments (454)

  • matt

    |

    So, if Wells Fargo continues to do business with a legal industry, the Teachers Union will no longer work with Wells Fargo to offer mortgage loans to the union members which are most likely at a lower profit margin to Wells Fargo. Kinda of an odd negotiation stance, “Stop doing business with those folks over there, or we will pull our support for a program that already cuts into your profit margins and our members will be forced to use your regular product which will cost them more and earn you more profit.” Very odd indeed.

    Reply

  • Jim Miller

    |

    All these educated morons need to do to stop the violence in schools zoned and or schools is to illuminate no gun zones for schools. There was no problem before no gun zones were instituted for the schools. These people Who are more and likely deranged know that if they go to a no gun zone they can kill 30 or 40 people before the police can respond. How simple is this to correct. Let’s grow up and become adults and get rid of idiotic idea is that if there is no guns in an area the area is safe. That is until some lunatic Marches down with a gun and start shooting people. It’s going to take the police at least 10 to 15 minutes to respond. And by now we should all know that a police officer carries a gun to protect himself/herself. Usually by the time the police arrive the deed is done and the police are doing an investigation. Even in the instance where they killed the perpetrator the damage is already done. Your child is dead, that’s the bottom-line. That’s what no gun zone’s produce.

    Reply

  • Scott

    |

    I am a teacher and this kind of thing is why I don’t join national teachers associations. Our school district just approved a shooting club in our high school. I teach archery in P.E. We do not have locks on our lockers at school. Most of the homes in our community have gun cabinets full of guns. The young people here are taught the value of hard work, respect, and proper values. The AFT does not share the same opinion as this teacher. Maybe what this nation needs is responsible teachers who carry at school and proper values taught in the home.

    Reply

  • Charlie Johnson

    |

    I don’t think anyone should feel forced to deal with a communist! Dropping the AFT would be the smart thing to do. I mean, who’s in charge of Wells Fargo, Sloan or Weenerface?

    Reply

  • chad white

    |

    I will drop the business account I have with WF in a hot second if they cave to this! I guarantee they will lose more than they gain. Hopefully they will do the right thing and and tell them to take a hike!

    Reply

  • Richard

    |

    There are AFT members who disagree with the AFT Union Leadership. Not all of the AFT are ignoramuses and liberal non-thinkers. There are many of the membership that were not brain washed at the Liberal based elementary schools, middle schools, high schools, and universities. Many teachers and professors are HCL holders. Who else will step up and defend the defenseless children? Only the AFT liberals believe that taking guns away from the good guys will prevent the bad guys from killing. Parents, remember where your children and grandchildren are being educated and by whom. Liberal teachers and higher education professors, will and have for many years, swayed and brow-beat children into accepting their liberal thinking ways. These, soon to be adults will, at some point be voting, without thinking. They will be led by the liberal left, just as they are being led right now into all the anti-gun protests you have witnessed after the Florida Stoneman Douglas High School shooting. These are not independent thinkers, these children are led by liberal organizations that have capitalized on a horrendous crime. Using these children as pawns to do their massive publicity ploy to infringe upon the first and second amendment. Time for conservatives to step forward – get active, vote your conservative values.
    Dr. R

    Reply

  • Jeffrey Cantu

    |

    As Clay Rogers stated; there are more gun owners banking with Well Fargo than AFT members , I’m sure. I’m also sure that siding with the AFT over the NRA would be bad for business as well as cowardly. That’s about all I have to say on the matter really. Happy shooting folks!

    Reply

  • Max poole

    |

    Wells Fargo should be very careful who’s ass they kiss , do they want to be bullied into something by libtards or do business with people that want a good product and treat everyone the same.

    Reply

  • Larry

    |

    Blackmail can be a two-way street. This nonsense can go on forever and nobody wins. How about if all gun owners, who now do business with WF, stop doing so? Stand up Wells Fargo, show you have some cashews.

    Reply

  • Kevin

    |

    Let em take their business elsewhere! They’ll find it VERY expensive to do so and won’t be hurting anyone but themselves! This is getting boring! These type of battles are never won. Truth is, the gun lobby will always win in this country and that’s a good thing! Fact is, even the left has millions of gun owners and many of them are NRA members! Do they really think that 20000 AFT members can go head to head with millions of NRA members! Come on!

    Reply

Leave a comment

Your discussions, feedback and comments are welcome here as long as they are relevant and insightful. Please be respectful of others. We reserve the right to edit as appropriate, delete profane, harassing, abusive and spam comments or posts, and block repeat offenders. All comments are held for moderation and will appear after approval.

Time limit is exhausted. Please reload the CAPTCHA.

%d bloggers like this: