Bank of America to stop lending money to makers of assault rifles

[The Legion]

https://www.msn.com/en-us/news/us/bank-of-america-to-stop-lending-money-to-makers-of-assault-rifles/ar-AAvJ0Ah

 

"I guess my Bass Pro Credit Card from Bank of America will end"

 

Bank of America Corp. said Tuesday that it will no longer lend money to companies that manufacture military-style assault weapons for civilian use, in the hopes the move will contribute to a reduction in the number of mass shootings nationwide.

Anne Finucane, Bank of America’s vice chairman, said 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 affected by the decision.

“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.”

When asked whether the bank also would stop doing business with retailers that sell assault weapons, Finucane said it would involve complicated issues related to civil liberties and the Second Amendment.

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

Reaction from gun manufacturers that do business with Bank of America was “mixed,” Finucane said. “Let’s just leave it at that,” she said.

In late February — not long after the shootings that left 17 people dead at Marjory Stoneman Douglas High School in Parkland, Fla. — Bank of America asked gun makers that sell assault rifles to come up with suggestions for preventing such incidents. “An immediate step we’re taking is to engage the limited number of clients we have that manufacture assault weapons for non-military use to understand what they can contribute to this shared responsibility,” the Charlotte, N.C.-based bank said in a statement at the time.

[MacGyver]

Private companies will take action long before Congress does. 

It’s silly to see BofA try to actually deign to have some moral compass, but they’re an 800 pound gorilla.  

[Raoul]

23 minutes ago, MacGyver said:

 

It’s silly to see BofA try to actually deign to have some moral compass

Well said.

[n0rlf]

They have sucked big wind for decades. Nothing new there. 

[tntnixon]

47 minutes ago, MacGyver said:

Private companies will take action long before Congress does. 

It’s silly to see BofA try to actually deign to have some moral compass, but they’re an 800 pound gorilla.  

They were one of the biggest players in causing the “Great Recession” . I’m certainly not taking them as a moral compass.

[TripleGGG]

They were one of the biggest players in causing the “Great Recession” . I’m certainly not taking them as a moral compass.

Yep they screwed more people than have been killed by guns.

[Whisper]

I'll be doing some checking to make sure I don't still have any money with BoA. 

Disgusted,

Whisper

[bababoris]

 

 

https://www.cnbc.com/2018/04/10/bofa-to-cut-ties-with-makers-of-military-assault-rifles-for-civlians.html

 

[mikegideon]

51 minutes ago, Whisper said:

I'll be doing some checking to make sure I don't still have any money with BoA. 

Disgusted,

Whisper

Yep. I have a big fat credit card with them that is zero balance. Gonna stay that way. Good thing I'm old

[MacGyver]

We wanted really badly to send a bunch of them to jail in 2009-2010.  

Unfortunately there were also some folks who really didn’t want to see that happen who had a lot more political capital - and probably a few pictures to go along with it. 

Buying politicians isn’t cheap - but it sure is effective.  

[mikegideon]

1 hour ago, MacGyver said:

We wanted really badly to send a bunch of them to jail in 2009-2010.  

Unfortunately there were also some folks who really didn’t want to see that happen who had a lot more political capital - and probably a few pictures to go along with it. 

Buying politicians isn’t cheap - but it sure is effective.  

I think they made a huge mistake when they did away with ass whippin's. The folks in need of one are piling up  

[bersaguy]

Quote

 

They keep sending me a Credit card offer for an unlimited Mastercard and the interest rate is a mere 23.9%. I keep sending them through the shredder along with all the other junk mail I get.

[A.J. Holst]

37 minutes ago, bersaguy said:

They keep sending me a Credit card offer for an unlimited Mastercard and the interest rate is a mere 23.9%. I keep sending them through the shredder along with all the other junk mail I get.

Better idea is return to sender.

Pop them for some additional postage

[bersaguy]

4 minutes ago, Gotthegoods said:

Better idea is return to sender.

Pop them for some additional postage

Good Idea and will do that from now on............

[eRay]

I received a credit card offer from Citi Bank the other day. Took the prepaid reply envelope wrote a note explaining that I would have liked to have the card but can not do business with anti-gun companies.  Mailed it back in their prepaid envelope so they could pay postage to get my opinion.

[bersaguy]

I will admit I have been doing business with them for 20 years because a friend of mine use to work for them and I needed a new bank when I moved here. I have been looking at other banks in which to move my accounts to but there are so many to choose from I have no clue where to begin. I don't have much to move. Just my auto deposit for Social Security check and a small savings account. I guess the main reason I have not already done it is taking the time to just do it. Anyone here got any ideas on one bank over another lets hear some ideas..............

[tntnixon]

Unfortunately, they bought my mortgage the day after I made it. Good news is only one more year !!!

[volshayes]

And they got corporate welfare during the Bank bailouts.  Now, that we (US Bank) have taken your money, we're not going to loan it to you !

[Omega]

Well, opened up a new account at USAA, changed my direct deposits and have transferred some of my money over.  Once my tax payment gets taken out next week, I'll be closing the accounts. 

[bduncan1231]

7 hours ago, bersaguy said:

I will admit I have been doing business with them for 20 years because a friend of mine use to work for them and I needed a new bank when I moved here. I have been looking at other banks in which to move my accounts to but there are so many to choose from I have no clue where to begin. I don't have much to move. Just my auto deposit for Social Security check and a small savings account. I guess the main reason I have not already done it is taking the time to just do it. Anyone here got any ideas on one bank over another lets hear some ideas..............

Wilson Bank & Trust is an awesome bank.   I’ve got several accounts with them and my wife’s business account is with them too

[mikegideon]

3 minutes ago, Omega said:

Well, opened up a new account at USAA, changed my direct deposits and have transferred some of my money over.  Once my tax payment gets taken out next week, I'll be closing the accounts. 

Good for you

 

[Garufa]

3 minutes ago, Omega said:

Well, opened up a new account at USAA, changed my direct deposits and have transferred some of my money over.  Once my tax payment gets taken out next week, I'll be closing the accounts. 

The only thing you left out was “and informed BOA of my decision”.

[mikegideon]

2 minutes ago, Garufa said:

The only thing you left out was “and informed BOA of my decision”.

I've been watching the entire Deadwood series as my current treadmill distraction. In honor of that, I would have to call them c#cks#ckers.

[tntnixon]

1 hour ago, mikegideon said:

I've been watching the entire Deadwood series as my current treadmill distraction. In honor of that, I would have to call them c#cks#ckers.

Are we talking toothy and no eye contact? Cuz I kinda like c#cks#ckers , generally . 

[mikegideon]

3 minutes ago, tntnixon said:

Are we talking toothy and no eye contact? Cuz I kinda like c#cks#ckers , generally . 

I talking the Chuck Schumer kind