A coalition of 16 attorneys general from Montana, Arkansas, Idaho, Indiana, Kansas, Louisiana, Mississippi, Missouri, Nebraska, New Hampshire, Ohio, South Carolina, Virginia, West Virginia, Utah and Wyoming are demanding answers from Wells Fargo on their closing accounts for firearms businesses via their debanking policies. That’s a mouthful, but it’s serious. First, I want to thank the sponsor of the channel, and that’s clear capital. It’s no secret that our government is addicted to printing money, and it’s not going to stop.

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Many of you have made purchases. I’ve invested in gold and silver myself, and I am very glad that I did. There’s, like I said, no obligation to buy, but you should call 1802 605075. Again, that’s 1802 605075. Or head over to leargg. com to learn more. All right, in this letter to Wells Fargo’s chief executive officer, Charles Sharf, Montana attorney general Austin Newton raised concerns with the bank’s decision to de bank or close the accounts of individuals or organizations it views as a risk.

Republican candidates and gun industry participants. Wells Fargo has also committed to the net Zero Banking alliance, promising to align their customers greenhouse gas emissions with aggressive 2030 targets to align with the Joe Biden administration’s net zero goals, meaning if your company doesn’t meet Joe Biden’s goals, you can’t bank with them. Let’s look at the opening of the letter. Dear Mr. Sharf, Wells Fargo and company appears to be using debanking as a political tool to extend the policies of the Biden administration throughout the economy.

That is unacceptable. The banking industry has become increasingly consolidated, with the top six banks controlling around half of all domestic deposits. This effectively turns the largest banks into economic regulators. Banks like Wells Fargo have committed to the net zero Banking alliance, promising to align their customers greenhouse gas emissions with aggressive 2030 targets. In line with the Biden administration’s net zero goals, Wells Fargo has gone beyond the NZBA commitments to debank whole economic sectors.

Furthermore, Wells Fargo has institutionalized discrimination by imposing race and sex based quotas into credit agreements with customers like BlackRock within this context, Wells Fargo’s decisions to Debank, republican candidates and gun industry participants reveal a new, troubling trend. We’ll go right down to the part three here. Wells Fargo policies on firearms in 2021, you told Congress that Wells Fargo’s relationship with the national Rifle association was declining, and a bank spokesperson told the press that Wells Fargo had been quietly winding down the relationship.

Wells Fargo’s de banking policies on this issue appear to be expanding since then. Last year, Wells Fargo abruptly informed a Florida gun dealer, Wex gunworks, that Wells Fargo was canceling its business line of credit and sent a letter stating that the reasons for this action is banking guidelines excludes lending to certain types of businesses. When pressed, Wells Fargo refused to provide any other details. Based on this information, it appears that Wells Fargo is moving towards, or already has quietly embraced, designating gun sellers as a type of business that will be denied lending services, much like Wells Fargo has already done to certain coal related businesses, as stated above.

Now these attorneys general are demanding answers to the following questions. Wells Fargo’s conduct and commitments may implicate state unfair and deceptive acts and practices laws or civil rights laws. Additionally, if banks like Wells Fargo are restricting access to financial services to act as pseudo governmental gatekeepers, then states need to revisit the current division of supervision powers between state and federal regulators for the largest banks. We urge Wells Fargo to move away from the debanking policies it has embraced as well as those it appears to be poised to embrace.

In light of the concerns above, please answer the following questions by April 4 of 2024. One, what will Wells Fargo do if its existing clients do not reduce emissions enough for Wells Fargo to meet its emissions reduction targets? Please outline all possible courses of action and in what circumstances each course of action would be used. Two, why did Wells Fargo d Bank wex gunworks, Lauren Whitskey and Pete D.

Ambrosia? Please provide all documents related to each decision and the name of an employee with knowledge of each circumstance. Three, what are the certain types of businesses that Wells Fargo will not lend to, as referenced in Wells Fargo’s letter to wex gunworks? Four, under what circumstances does Wells Fargo put ESG related terms in its financing contracts? Five, does Wells Fargo agree that race or sex based employment quotas are unlawful? Six, why has Wells Fargo agreed to financing terms with BlackRock that incentivize Blackrock to employ a certain percentage of certain races and avoid hiring employees of other races? Thank you for your attention to this matter, and you can see it’s signed by AG, Austin Knudon from Montana, as well as the ones you see here on the screen.

Now, AG Newton also said this Wells Fargo is pushing the Biden administration’s antigon and anti traditional energy policies and discriminating against customers who do not fall in line with their political beliefs. As attorney general, it’s my job to protect Montanans from discriminatory business practices. I will continue to investigate and fight against any illegal action that could be impacting Montana businesses and customers. Have you been affected by banks pushing the anti gun policies that they have on you or your business? If so, let us know down in the comments below.

And what do you think about banks doing Biden’s bidding in the gun community? It’s something that’s not really new, but it is expanding. We saw the emergence of special codes to track our purchases when we use credit cards. Then they pushed back and that was stopped and then they slid it back in. What do you guys and gals think about that? Pay with cash? Yes. However, the Biden administration is doing their damnedest to make sure cash goes away, unless you’re giving it to every other company or country abroad.

They don’t like to give it to Americans, but Ukrainians? We’re at least paying for all their retirements. That’s pretty cool. Let me know what you guys and gals think down below. And until we see each other again, have a great day. You are your own first responder. Remember that there will never be a government employee of any level there to protect you when you need it most. Take care.

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