Two of the largest banks in the U.S. say they will stop donating millions of dollars to Florida’s private school voucher program after a newspaper investigation found that some of the program’s beneficiaries discriminate against LGBTQ students.
In a statement to NBC News and CNBC on Wednesday evening, Wells Fargo confirmed that it would no longer participate.
“We have reviewed this matter carefully and have decided to no longer support Step Up for Students,” the San Francisco-based bank said of the voucher program. “All of us at Wells Fargo highly value diversity and inclusion, and we oppose discrimination of any kind.”
In a tweet to a Florida lawmaker Tuesday, Fifth Third Bank, based in Cincinnati, said it has told officials with the voucher program that it will also stop participating.
“We have communicated with program officials that we will not be contributing again until more inclusive policies have been adopted by all participating schools to protect the sexual orientation of all our students,” the bank tweeted to Rep. Carlos Guillermo Smith, the state’s first LGBTQ Latino legislator. (Read more from “Wells Fargo Pulls Florida Voucher Donations Over Anti-Gay School Policies” HERE)