The Second-Largest Bank In The US To Stop Lending To Military-Style Weapons Makers

Bank of America is the second-largest bank in the US by total assets ($2,281 B) but their assets could suffer a significant blow after Anne Finucane, Bank of America’s vice chairman, said Tuesday in an interview on Bloomberg TV that the bank has notified the handful of gun manufacturers it does business with about the decision. It would not name the companies.

“We want to contribute in any way we can to reduce these mass shootings — it’s such a tragedy in the United States,” Finucane said. “We do have a few manufacturers of military-style firearms . . . We have let them know that it’s not our intent to underwrite or finance military-style firearms on a go-forward basis.”

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

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.”

Gun-rights advocates and other extremists act like every attempt to create sane and logical regulations on guns is a fascist assault on their freedom. But a quick look at other nations shows this to be untrue.

When asked whether Bank of America would also boycott retailers who sell such weapons, Ms. Finucane parried the question and didn’t rule it out.

“That’s a good public dialogue, but that’s a ways off,” she said.

But I think we can all tell them what we think about this!

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Alex Hall

Alex D is a conservative journalist, who covers all issues of importance for conservatives. He writes for Supreme Insider, Red State Nation, Defiant America, Right Journalism,  Conservative US. He brings attention and insight from what happens in the White House to the streets of American towns, because it all has an impact on our future, and the country left for our children. Exposing the truth is his ultimate goal, mixed with wit where it's appropriate, and feels that journalism shouldn't be censored. Join him & let's spread the good word!