Wells Fargo has, so far, resisted a tremendous amount of pressure from these left-aligned groups to stop doing business with the NRA and legal gun manufacturers and sellers. A major national Teachers Union is now threatening to end a mortgage program with Wells Fargo, or else.
“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,†Weingarten said in the statement. “They can’t do both.â€
Hopefully 20,000 mortgages isn’t a huge amount of money for a bank as large as Wells Fargo. I bank with Wells Fargo, having started with Core States Bank, and then gone through all the mergers over the years. I will send them a note saying that I appreciate them staying out of this political battle and not caving to pressure to take a position in the gun debate.
I really don’t get this new fad of people needing the companies they do business with to affirm their politics. I mean, if you’re selling fair trade coffee, I think it’s reasonable to expect that the brand would promote the idea of fair trade. Or if you’re selling guns, the business would promote the idea of gun rights. Some products are lifestyle products, and you can’t get around that. But banking and financial services are not among those. I don’t need my beliefs on, say, the non-delegation doctrine affirmed by my bank when I make a deposit. I don’t need a lecture about Big Ag when I go to buy a burrito. Personally, if you think that way, you probably need to get a life.