Swordsmyth
04-10-2018, 07:17 PM
The second-biggest U.S. bank is a lender to Vista Outdoor (https://www.cnbc.com/quotes/?symbol=VSTO%27WI), Remington and Sturm Ruger (https://www.cnbc.com/quotes/?symbol=RGR). During an interview Tuesday on Bloomberg television, Bank of America Vice Chairman Anne Finucane said the bank has let its gun-maker clients know "it's not our intent to underwrite or finance military-style firearms."
In February, after 17 students and teachers died in a shooting at a Florida high school, Bank of America said it was "engaging" with its gun-maker clients "to understand what they can contribute" to stopping such violence.
On Tuesday, Finucane said, "We have had intense conversations over the last few months. And it's our intention not to finance these military-style firearms for civilian use." She said the reaction has been mixed.
"These are clients we have enjoyed a relationship with," she 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."
More at: https://www.cnbc.com/2018/04/10/bofa-to-cut-ties-with-makers-of-military-assault-rifles-for-civlians.html
In February, after 17 students and teachers died in a shooting at a Florida high school, Bank of America said it was "engaging" with its gun-maker clients "to understand what they can contribute" to stopping such violence.
On Tuesday, Finucane said, "We have had intense conversations over the last few months. And it's our intention not to finance these military-style firearms for civilian use." She said the reaction has been mixed.
"These are clients we have enjoyed a relationship with," she 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."
More at: https://www.cnbc.com/2018/04/10/bofa-to-cut-ties-with-makers-of-military-assault-rifles-for-civlians.html