Bank of America will cease lending operations to firearm manufacturers that produce civilian military-styled weapons, like the AR-15 rifle.
“We want to contribute in any way we can to reduce these mass shootings,” Anne M. Finucane, Vice Chairwoman of BoA, told BloombergTV.
Wall Street has dived into gun control debates starting with Citigroup’s announcement recently that it would require customers to restrict certain firearms sales.
BoA works with “just a handful of manufacturers,” which they would not name, but claimed to have “intense conversations over the last few months,” Ms. Finucane said. The reactions have been mixed.
The bank will continue to pull back relationships with companies that continue manufacturing these weapons.
Gun owners should discontinue business with Bank of America!
“We want to contribute in any way we can to reduce these mass robbing,”
-- PowerPaul, Free citizen, told by myself.
@powerpaul I love that! It's so funny to see the banks take the moral high ground when they also overcharge the more unfortunate in fees.
Exactly! I don't wanna know how much cruelty they spread over half of the world. How many people are hungry, because of these finance business? How many lost their home? So funny. Not.
And especially they blame "military-styled". The same story again and again: more black, more deadly. Can we change the color? Can i engrave a mickey mouse to my AR? Then it's less deadly? Or is it ok to make mass shootings with something, which is not "military-styled".
For sure, non "military-styled" rifles are less dangerous. Everybody knows that! *joke
No, it's just about to demonize something. To make an image. AR-15 is the word of the magicians. Say this and everybody hangs on your lips. Call everything an AR!
For sure. It's so easy how it works... "We should ban them! Or do you want mass shootings?" Soooo cheap.
They're just trying to make a statement, and they will find themselves on the wrong side of history... SAD! (not)
I hope so.
Don't get me wrong, I support their right to charge whatever they want and do business with whoever they want. However, I'm more supportive of the consumer to decide to not do business with them based on how they conduct business.
I agree with you.
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Perhaps all police, military and the governments that own them, should all refuse to do business with Bank of America. Let BofA underwrite all of their own loans and not participate with Freddie Mac and Fannie Mae. Afterall, the biggest killer of people is organized government.
The reason all of these companies, including B of A, are doing this is very simple, political pressure from institutional investors, who are now refusing to buy stocks and bonds from companies they don't agree with. As always, it's all about the money, period.
Bank of America is not anti-gun, they have lots of guns and private security to protect themselves and their money. These corporation are only anti-gun when it comes to regular individuals having firearms.
Hopefully, the marketplace will meet the financial demands of the firearms industry.