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)

  • tony kaszycki

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    I am not currently a Wells Fargo account holder, but should they stand their ground I will become one. The safety of America’s students has absolutely nothing to do with this banks affiliation with the NRA.

    Reply

  • Douglas

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    I get really sick of hearing from socialist teachers, politicians, most of Hollywood or any vocal minoritiy who wants to take away our rights. Free speech, the right to protect ourselves and our families, the right to move about freely. Wake up people, we are losing our rights piece by piece and we need to stand up to any person or organization who wishes to make us LESS free. And the left calls us NAZIS. Ironic!

    Reply

  • William Erickson

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    Supported teachers for years. Even supported them in their latest March for pay increases. If teachers allow their representative to push this strong armed tactic against Wells Fargo then my support for spineless teachers that only care about self centered agendas will never again be with them.
    Maybe it’s time the teachers vote to remove this tyrannical socialist mouthpiece.
    Don’t cave Wells Fargo, I’ve been a customer for years, be strong and tell this individual all Americans have the freedom to choose and you choose to support all Americans.

    Reply

  • Mark LaRiviere

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    It does not even sound legal it certainly is not moral or American. I guess that opens the door for all merchants to pick and choose who they sell or not sell to like someone saying they wont sell to minorities because they support the naacp or aclu or because they do business with with companies that sell rap music or some other products that they feel demoralize and threaten American values. Sounds like a form of communism. If Wells Fargo gives in I’ll close my account and take my business elsewhere .

    Reply

  • mark chapoton

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    He should tell them to piss up a rope and stick their mortgage product up their asses.

    Reply

  • Polly AnnThornbutt

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    It’s about time. Hurray for Weingarten. Time for the stupid, arrogant, selfish gun owners to turn in All of their guns Now. AMERICA, GIVE UP YOUR GUNS NOW! Use your common sense.

    Reply

  • Mr noodles

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    Guns have protected Wells Fargo long before any of us were born. The right to do business with whomever they decide, should never be infringed upon. If a union leader, without proper votes, shouldn’t be the only voice on this issue. The politics have clearly run a muck in this situation based on the fear of criminals with guns. Guns in the hands of good people (teachers) can save lives!

    Reply

  • AlanTooraen

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    I have two Wells Fargo Corporate accounts and own a Law Enforcement Supply Business. We make badges for government agencies but do not sell firearms. If Wells Fargo caves in I will close both my accounts. People who want to ignore the constitution are dangerous. There are more people killed because of people driving while high on alcohol and legalized pot than all the gun deaths combined , but the liberal press will never mention this fact. I am all for better background checks and far better security at schools, but why blame Wells Fargo because Florida Law Enforcement , state , Federal, and City totally ignored this maniac kid and when he struck the school they were charged with protecting they ran for their lives. Liberals get a brain will you !

    Reply

  • Curious 1

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    I challenge (AFT) President Randi Weingarten to describe exactly how denying Wells Fargo financing to the NRA or its members will prevent even one firearm incident. He is clearly one of the “we must do something,” even if it is totally useless. I would also bet that a very high percentage of his union members are gun owners who wonder what the Hell their leader is doing under the guise of “protecting the children.”

    Reply

  • Knight2

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    Wells Fargo is not a bank you can trust with your money or personal information. Look at their past crimes lately within the past few years. I have never and will never have anything to do with Wells Fargo. They can do what they want.

    Reply

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