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)

  • Charles McKenry

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    I have been with Wells Fargo for over 20 years but have been an NRA member for closer to 30 years so if Wells Fargo crumbles I will be taking my business elsewhere.

    Reply

  • FRANK

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    I agree with Cpt Deano. I too have my biz and personal accounts at WF. If they buckle, someone should organize one of those online petition sites and shows WF that they have a lot of customers that would drop their accounts if WF caves to the bullying.

    Reply

  • Marc

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    Wells Fargo should not be in the business of its customers… they are a bank and Thai what they should do… not playing games with the unstable… that’s on both sides of the fence… the educators need to figure how they should educate the kids in their schools to be good citizens instead of kids that bully and hurt others. They are pushing the responsibility off on others instead taking responsibility for the actions of the kids in there schools. There many different views and this why Wells Fargo should just be a Bank not political figure… I have banked with WF for a long time and if they stay as a bank I and many others will keep banking with you.

    Reply

  • Liam

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    Let them (AFT) leave, it’s a free world. I don’t cotton to ideology threat’s. My guess, there members of AFT that are NRA supporters. Remember, “Guns don’t kill people. People kill people.”

    Reply

  • Bill

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    I have three residential mortgages and looking to take on a 4th. Currently I am going through the SBA process with Wells Fargo. I will stop all business with any company that refuses to support my rights. The left is waging a war on anyone that opposes their views, it’s time we do the same. Mys WF mortgage broker is KEVIN Kendall just so WF knows I’m serious. We are talking over 1 million in loans to date with another 1million in planning. I will ask the NRA which banks support our 2nd amendment rights and use their services.

    Reply

  • joefoam

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    “The AFT’s purpose is to deliver an ultimatum regarding the bank’s ongoing financial support for the gun lobby and gun manufacturers.”
    Interesting; I wonder who this AFT president thinks produces firearms for our military. When these manufacturers win a military contract, they often need to borrow (big $$) funds to ramp-up production to fulfill their contractual obligations.
    I suppose he/she thinks our military already has enough arms and will never need more because you know, they never wear out, technology never moves forward, and we will never increase our troops. Our enemies must love this rational
    Excellent point Dave. Will we put the arms manufacturing business out of business?

    Reply

  • Cam

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    Just like all unions, the thugs in control are making decsiions that promote their agenda and not in the best interest of the members. They are ending a program that will cost all people in the union who would like to use the program instead of letting each member choose if they want to save money or virtue signal.

    Reply

  • Rene Ramos

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    Not surprised. Al Shanker’s acolytes have always been a subversive bunch. Since Vietnam, they have always moved to undermine the core values of American and, in great measure, have succeeded in our school system. Now, they are using the current tragedies to fertilize their field of subversion by trying to isolate the NRA, the prime supporter of our 2nd Amendment. Their theory: Take the NRA down and the 2nd Amendment will be just memory. It’s time to decertify the AFT and declare it a anti-American organization on par with the Communist Workers of America, aka Working Families Party

    Reply

  • Capt Deano

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    I have all my personal and business accounts with Wells Fargo and I just hope for our relationship that they have the backbone to tell the ATF to stay out of private business and quit trying to bully everyone. I am not trying to threaten or bully Wells Fargo but I just want them to know that there are a lot of their customers that have accounts with them that do stand by our second amendment rights. As everyone already knows it isn’t the guns that kill it is the people behind them that kill.

    Reply

  • Dave

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    First off to the person attacking Unions, I am sure that not 100% of the Union members supports the AFT’s stance. It would be a decision by vote, duh! Second, as a WF customer and a USW member, I will leave WF if he crumbles to the pressures of the teachers opinions. Let’s face it, based on what we see in news, teachers can’t afford mortgages anyway.

    Reply

    • Ed

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      Leave the banks alone!!! They struggle enough as it is. This whole thing is being way out of control. Why is forcing companies to discriminate against one group or another okay????

      Reply

    • Ed

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      Sorry Dave…. that was a general comment not directed at you… for some reason my phone replied to your post, sorry…

      I’m with you though, I’ll pull my accounts too…I’m already workng on pulling my BOA ones after their stance.

      Reply

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