Bank of America to stop lending to makers of ‘military-style’ weapons

Bank of America to stop lending to makers of ‘military-style’ weapons

[Ed. – Another company mixes politics and business.]

A Bank of America executive announced Tuesday that the bank will stop lending money to companies that manufacture “military-style” rifles that are available for civilians to purchase.

Anne Finucane, Bank of America’s vice chair, told Bloomberg TV that the bank doesn’t want to “underwrite or finance military-style firearms” and has told a number of gun manufacturers that it will no longer do business with them.

The bank has lended to the gun makers Vista Outdoor, Remington and Sturm Ruger, CNBC reported.

Trending: Illegal befriends family, makes copy of their house key, sneaks in and rapes their 6-year-old — twice

Bank of America had said that after the shooting in Parkland, Fla., in mid-February it was exploring ways it could contribute to stemming gun violence. The confessed gunman in that shooting used an AR-15-style rifle.

“These are clients we have enjoyed a relationship with,” Finucane said. “There are those I think will reduce their portfolios and we’ll work with them and others that will choose to do something else.”

Continue reading →

For your convenience, you may leave commments below using either the Spot.IM commenting system or the Facebook commenting system. If Spot.IM is not appearing for you, please disable AdBlock to leave a comment.


Commenting Policy

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.