Major Teachers Union Cuts Ties With Wells Fargo for Not Ditching NRA
The American Federation of Teachers (AFT) cut its ties with Wells Fargo after the financial services giant refused to end its relationship with the NRA and firearm manufacturers.
The union, which consists of 1.7 million members nationwide, told Wells Fargo earlier this month that American teachers would no longer use the bank for mortgages if it continued to provide financial services to the NRA.
AFT's President Randi Weingarten said in a statement that when the union tried to schedule a meeting to discuss "responsible relationships with gun companies," the bank's "friends at NRATV started launching vile attacks on teachers and personal attacks against me."
The NRA faced criticism following the school shooting in Parkland, Florida in February in the form of calls for gun control legislation.
A number of companies also cut ties with the nonprofit, including United and Delta Airlines, MetLife, Symantec and rental car companies Hertz, Budget, Avis and Enterprise.
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 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.
The bank argued that the issue should be decided by lawmakers, but the two sides reportedly never met.