Wells Fargo Given Ultimatum: No Business With NRA, Gun Companies Or…

Wells Fargo Bank red and yellow logo

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)

  1. Hoorah yes what Joe V said. In fact not only stop teenagers from driving and texting also stop them from driving and drinking.

  2. The NRA has been targeted for destruction for a simple reason, they are a danger to the American people. They chose to become a partisan political organization, and support one party over another. They committed treason and election fraud by laundering Russian money into the 2016 election, and supported Putin’s racist puppet Trump. They have sealed their fate.

    Once the Democrats take back the House and Senate in November, expect the NRA, and its members, to be treated as enemies of the American people. Expect extensive investigations of the NRA and its violations of election law. More importantly, expect to see real gun control measures that require licences and registration for all firearms, and a complete ban semiautomatic rifles, and a ban on semiautomatic pistols that have a magazine outside of the grip. We will ban all your favorite toys for no other reason than to punish you. Oh, and of course failure to comply will be grounds for your arrest and imprisonment. Don’t forget, we’ll know who to raid by all the Moron Lube comments you folks have made on Facebook.

  3. I do not understand why the NRA is being vilified. They represent proper gun use and safety and do not support illegal criminal gun use. I have been a long standing Wells Fargo customer the last twenty years. If they bow to this type of pressure, then I will be taking my banking business elsewhere. When are these anti-gun people going to realize, that the guns are not the problem…the problem is a cultural change in young people. The governor of Kentucky states it wisely in this short video:

    1. The governor hit the nail on the head. I can just see the woman in the crowd smirking and rolling her eyes when he was making valid points, but because he was not saying what she wanted to hear, she tried to stifle him and his comments.

  4. Wells Fargo should stick to business, not politics. Some teachers are NRA members, some are anti-gun. As I see it, little to no discussion of the real cause of school shootings has been done since Columbine, and there are multiple causative factors in common. It is always just rush to blaming an inanimate object, the gun.School will not be safe ever, until that real study and discussion happens. Teachers are rushing to judgement, as is Wells Fargo if they don’t become an entity calling fro true study of classroom psyco. abuse, psychotropic drugs used on students, teacher led values clarification, which includes there is no right and wrong, and more – all common to all the shootings.

  5. Mr Randi Weingarter president of the American Federation of Teachers (AFT) needs to put his efforts into improving teaching, like READING, WRITING, and U.S. History. Stay out of politics. Remember if the FBI, Local police department and especially the Parkland School system had done their jobs this would not of happened. The school system was more interested in making themselves LOOK GOOD. How about the AFT encourging student to be put on prescription drugs to settle them down. I had experience when my son was young, thank goodness we had a real teacher who knew how to deal with him. He turned out to be a very happy and successful man. NO Drugs. Why don’t you look into the one common thing these shooters have in common. Stop being a bully by pushing. your agenda. WF, I just left Citigroup and took all my business to your bank due to your logical thinking of leaving this up to the lawmakers. Stay in the banking business and out of pushing an agenda.

    1. Thank you Arnold! I agree with you completely! If Wells Fargo decides to allow this teachers union to BULLY them, then I and my family and our businesses will pull out of Wells Fargo. And if Wells Fargo decides to jump ship with law abiding gun owners and the NRA who does more for gun safety and training than any organization, then WELLS FARGO better get rid of ALL ARMED GUARDS in their banks! And these teachers well, they better DEMAND any Law Enforcement officer they call for help to be UNARMED! I stand with the NRA and the 6 Million plus law abiding gun owners who are Patriots standing up for America! Thanks again for your comments Arnold!

  6. I, too am a customer of WF. I am a Benefactor Member of the NRA. I have almost $400000.00 with them in my businesses. I would drop them in a heartbeat if they give in to the “aft”. Who would be the next little union that would want them to give in for something else. I just wonder how many of their members feel this way.

  7. 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.

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