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Bank of America Will Stop Lending To Manufacturers Of Military-Style Firearms

By  Paul Bois

Bank of America has joined the parade of businesses boycotting guns and the NRA by refusing to lend money to manufacturers of “military-style firearms” sold for civilian use, which is to say, manufacturers of guns that look scary.

Speaking with Bloomberg Television, Anne Finucane, a vice chairman at Bank of America, said the organization had “intense conversations over the last few months” with gun-manufacturers regarding their new policy.

“We have just a handful of manufacturers. They know what our intentions are,” Finucane told Bloomberg. “It’s our intention not to finance these military-style firearms for civilian use.”

Finucane did not specify exactly when the new policy would be implemented or how it would affect current lending agreements, according to WaPo.

“We want to contribute in any way we can to reduce these mass shootings,” Finucane told Bloomberg. “I mean that’s such a tragedy in the United States, so that’s number one.”

As to how weapons manufacturers reacted to the decision, Finucane said the reactions were “mixed.”

“We’ll just leave it at that,” Finucane said. “They’re our clients, and we have enjoyed a relationship, but there are those that I think will reduce their portfolio, and we’ll work with them, and others that will choose to do something else.”

Meanwhile, Bank of America supports a slew of pro-abortion groups, including Planned Parenthood and the Center for Reproductive Rights. Hypocrite is a word so beaten to death in this modern age that Hollywood could do a reboot of it.

Pro-gun control activists have praised Bank of America for “stepping up” against the weapons manufacturers.

“We were heartened to see Bank of America join the list of companies stepping up to keep America safe, especially when Washington politicians are failing to take action,” Avery Gardiner, co-president of the Brady Campaign to Prevent Gun Violence, said in a statement. “Why would anyone want to help finance assault weapons that are regularly used in mass shootings? The gun violence epidemic in this country is a uniquely American problem and it’s encouraging to see America’s corporate giants take a leading role in this fight.”

However, Avery Gardiner still thinks Bank of America could do better.

“There are about 20 manufacturers of assault weapons in the U.S., but more than 65,000 gun retailers nationwide — more than the number of Starbucks and McDonald’s combined,” she said. “Banks should think about what they can do with both gun manufacturers and retailers to encourage the entire gun industry to act responsibly and help keep guns out of the hands of people who have been barred from having them for the past 50 years.”

Read more in:
  1. Gun Control
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