Bank of America will no longer lend to companies that make ‘military-style’ weapons

The Washington Times ^ | 04-10-2018 | Victor Morton

[ptsal]

Bank of America officially took sides in America’s gun debate Tuesday, announcing it would no longer make loans to companies that make “military-style” weapons.

The second-biggest U.S. bank announced Tuesday that it would drop current loan-customers Vista Outdoors, Remington and Sturm Ruger, and blackball any other manufacturer of assault weapons.

Bank of America Vice Chairman Anne Finucanetold Bloomberg TV on Tuesday her bank has told those companies “it’s not our intent to underwrite or finance military-style firearms.”

“We have had intense conversations over the last few months,” Ms. Finucane told Bloomberg, a network founded by tycoon and gun-control-financier Michael R. Bloomberg. “And it’s our intention not to finance these military-style firearms for civilian use.”

[ptsal]

**snip**Ms. Finucane, who is listed at her company biography as head of BoA’s “environmental, social and governance efforts” said she expects to lose at least some of those gun-makers’ other business as well.

...more on Ms. Finucane from Wikipedia...

Finucane is married to the journalist Mike Barnicle... She is a member of the Council on Foreign Relations,[23] and has been president of the Massachusetts Women's Forum.[3]

[rktman]

For more commentary:

https://www.freerepublic.com/focus/news/3646485/posts?q=1&;page=1

[DownInFlames]

Ibofa can expect a downfall in revenue and lower stock prices.

[kalee]

For later

[dsrtsage]

Can’t genocide an armed populace

[C19fan]

Corporatist state.

[Zakeet]

... and loans to illegal aliens were unaffected ...

[ealgeone]

I guess BoA will no longer used armed guards who carry military style weapons to guard their cash. The stupid is strong with that one.

[Pollster1]

I have boycotted B of A for many years. If they were not on my boycott list, I would boycott them permanently over this. They are genuinely evil, and I don’t do business with evil. I don’t even except personal checks drawn on B of A accounts.

[C210N]

Will they make loans to startup bakery businesses that bake Christian/family-oriented wedding cakes?

[maddog55]

Never used them anyway..

[mulligan]

How stupid can one get? Bank is one very stupid bank.

[richardtavor]

In my opinion, these customers thatthey are dumping will be much better off. There are always banks to finance almost anything. If I were any of the customers that were affected I would transfer all of my banking needs to someone else and make a huge show of it...

[48th SPS Crusader]

So if a company makes a Model 1911 pistol, the bank will not loan it money? After all the 1911 was an actual military use pistol, not just one STYLED like a military weapon.

.

[indthkr]

2nd Amendment bump for later.....

[48th SPS Crusader]

Since STLE is subjective who decides what is military style? If the military does not use the weapon why is the weapon considered to be military STYLE?

[IamConservative]

If you follow this path to it’s conclusion, people will be making AR-15’s in their machine shops. My son could make one in our shop. These are much more likely to have select fire with full auto.

[polymuser]

And patriots no longer bank at BOA. Simple.

[ontap]

I quit BOA long ago!!!

[ExpatCanuck]

BOA is a sh*t company to begin with. I’m an independent IT PM and everyone I know who has worked there would never go back. Notwithstanding that, I accepted a contract with them because I really liked the director I interviewed with and felt it would be a good fit. I was supposed to start on a Monday and the Wednesday prior I got a call telling me that director left and his organization is under new leadership and I can still have the contract but for $40k less a year. I told them to go pound sand.