Wells Fargo Threatened by Teachers Union Over Bank’s Refusal to ‘Ditch’ the NRA
After being called the “go-to bank for gun makers and the NRA” by Bloomberg over the weekend, Wells Fargo is now being attacked by the American Federation of Teachers.
AFT president Randi Weingarten announced on Saturday: “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.”
Wells Fargo CEO Tim Sloan offered to meet with Weingarten during written correspondence between the two, but added, “When dealing with the safety of our families, children, and other issues of this magnitude, there are no easy or satisfying solutions. In fact, as I have publicly stated, I do not believe that the American public wants banks to decide which legal products consumers can and cannot buy.”
Sloan’s statement comes weeks after Citigroup announced it would implement restrictions on gun sales for their retail clients. Citi’s move was met with ridicule from Congressional Republicans, with Senator John Kennedy (R-La.) telling the bank’s CEO Michael Corbat in a letter, “The very fact that Citi remains operational is due entirely to the generosity of the American taxpayers. Please don’t forget that.”
Citi said the intent of their new policy was to do their part in implementing gun control after “tragedy and inaction.” (Read more from “Wells Fargo Threatened by Teachers Union Over Bank’s Refusal to ‘Ditch’ the NRA” HERE)
Follow Joe Miller on Twitter HERE and Facebook HERE.
