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 (436)

  • Eric Scott

    |

    No matter the union or the political interest, this is America and bringing ( more like blackmail) a reputable business into a political agenda is getting out of control. Wells Fargo has a responsibility to all it’s customers . If you were to switch this and the NRA was giving the bank the ultimatum there would be caps!!! The split standards has to stop!! They are wrong bringing the bank in the middle and shorting there self by doing it. Responsible gun owners have more morals and standards than that. And this is the ATF , what are we showing our youth with these types of actions? If your member of the ATF and a gun owner than now is the time to set a example and stand up for what is right . You have the opportunity to show the youth in your schools that threats and tempertations is not how to solve problems. There is no need for extremeist . There is common ground and it can be found.

    Reply

  • Bob

    |

    Tell the ATF President he can take his business elsewhere. Any business that supports the Constitution of the United States will win the support of the majority of US citizens. The ATF couldn’t care less about students. All they want are union dues to support their lifestyle and support those in Washington who do more harm to America than good. Stay strong Wells Fargo. The majority of Americans are non-union and need home mortgages. Don’t cave in to union thug threats and your business will do just fine.

    Reply

  • William Copeland

    |

    It is a shame the education system fails to educate our children on history, the Constitution, the Bill of Rights and instead are just a political arm of the Hate America crowd. The failure of so many ( not all ) of our educators to teach the values of America is apparent. They instead chose to indoctrinate our children with failed policies, half truths ( when not full lies ) and a teaching protocol from Washington that is so stupid that no other country in the world would even consider it unless it was to keep their people ignorant of the truth. We need to start making our educators responsible for their actions and replace the ones that can’t except history as history and instead want to keep pushing the USA toward a Socialistic system that has failed every where.

    instead chose to indoctrinate what is mostly left wing propaganda

    Reply

  • Charles Reed

    |

    Wells Fargo should tell them Ok. We well call all loans that your members have in and tell them they have 30 days to pay. And send a note to everyone that they can thank the AFT for it.

    Reply

  • Keith Schlotthauer

    |

    Wells Fargo should call the loans for the 20,000……LOLOL

    Reply

  • Pete

    |

    Looks tom like the AFT is biting off it’s nose to spite it’s face. The only one’s they are going to hurt are their own members. WF tell’em to F off.

    That said WF will cave. The globalists always do.

    Reply

  • Jerry D

    |

    I think that the American Federation of Teachers would be better focused on weeding out the social degenerates in its ranks. The lecherous perverted teachers, of which we so frequently hear about, who are having sex with their underage students. I think that if their agenda is to protect students, then they need not look any further than their own house! I have several accounts with Wells Fargo, personal, business, and investment. If Wells Fargo caves to the AFT, then Wells Fargo loses my business!

    Reply

  • Curtis Pennington Jr

    |

    I will not do business with a company that does not uphold the second amendment..

    Reply

  • Kevin

    |

    Wells Fargo should tell the AFT President, fine, if you discontinue the mortgage program “we will give all those that have loans with us thirty days to pay them in full”. Let’s just see how many Teachers will stand behind Weingarten then. I don’t think there are that many Teachers that are standing behind this decision now!

    Reply

  • jeffrey

    |

    I hope Wells Fargo tells the AFT that they will not be blackmailed. There are more gun owners in the US than AFT members. If Wells Fargo acquiesces the blackmail will continue with other businesses.

    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: