Bank of America officially took sides in Americas 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 its 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 its our intention not to finance these military-style firearms for civilian use.
Ms. Finucane, who is listed at her company biography as head of BoAs environmental, social and governance efforts said she expects to lose at least some of those gun-makers other business as well.
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