Teachers Union Threatens Wells Fargo: 'Ditch' NRA or Lose Our Business
The president of a nationwide teachers union demanded that financial services giant Wells Fargo cut all ties with the National Rifle Association and firearm manufacturers or lose her organization as a client, the Washington Times reported.
American Federation of Teachers President Randi Weingarten said Saturday that Wells Fargo can either have American teachers in their mortgage market or offer loans and other services to the NRA.
"They can't do both," Weingarten said, according to the Washington Times.
Wells Fargo CEO Tim Sloan floated a meeting with Weingarten to discuss her concerns, saying "when dealing with the safety of our families [and] children... there are no easy or satisfying solutions."
Sloan added that he believes the public does not want banks dictating what products American can or cannot purchase.
"What we can pledge is that Wells Fargo will be a thoughtful participant in the dialogue," he said, adding that the San Francisco-based banking institution will always take "all points of view" seriously.
Weingarten later offered Sloan an ultimatum, saying in part that "if Tim [Sloan] doesn't ditch his guns business, we'll ditch Wells Fargo."
On the prospect of meeting with Wells Fargo executives, Weingarten said that "no words will dissuade us from our view that our society must value people over profits."
Sloan said 1,600 AFT members were assisted by Wells Fargo Home Lending in 2017, adding that his bank also offers assistance to teachers who are having trouble making a down payment on a home.