BoA Dumps Gun Mfr

[LongBlade]

This seems a bit odd.

An Arizona-based firearms company says it is being treated unfairly by Bank of America for the type of business it does, a claim the bank denies.

Kelly McMillian, operations director of the McMillian companies – which makes rifles, ammunition, gunstocks and related firearms equipment – said a bank vice president explained at a meeting last week that he no longer wanted McMillan's business because the companies manufacture firearms.

Read more: http://www.foxnews.com/politics/2012/04/27/gun-manufacturer-says-bank-american-doesnt-want-his-business

[TheCommandTent]

That does seem like there is something missing to the story.

If BoA does not want them I am sure there will be plenty of other banks would like their fee revenue.

[Silent Disapproval Robot]

I heard Alex Jones frothing about this a few days ago (yes, I listen to Jones.  It's good comedy).  He said it was several weapons makers who were told by BoA that they'd no longer be welcome as clients.

[Bison]

Bank of America's decision will be a boon for another bank.

[Martok]

That is indeed odd, especially when you consider that BoA surely has far less savory clients than them... 

[LongBlade]

Why would BoA dump legit clients? Makes no sense. It's not like they're rolling in cash right now. Stock price is in the single digits last time I looked.

[Silent Disapproval Robot]

Bank of America's War on the Second Amendment

Kurt Nimmo
April 24, 2012

Bankster giant Bank of America has joined the effort to take down the Second Amendment and deny Americans the right to own and use firearms.

Kelly McMillan, the CEO of McMillan Fiberglass Stocks, McMillan Group International, and McMillan Firearms Manufacturing, recently wrote on his Facebook page that Bank of America has refused to do business with his companies because they sell firearms. Bank of America admitted its decision was political. McMillan's response was to immediately stop doing business with Bank of America.

Here is Mr. McMillan's post:

    McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group International have been collectively banking with Bank of America for 12 years. Today Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking, Global Commercial Banking came to my office. He scheduled the meeting as an "account analysis" meeting in order to evaluate the two lines of credit we have with them. He spent 5 minutes talking about how McMillan has changed in the last 5 years and have become more of a firearms manufacturer than a supplier of accessories.

    At this point I interrupted him and asked "Can I possibly save you some time so that you don't waste your breath? What you are going to tell me is that because we are in the firearms manufacturing business you no longer what my business."
"That is correct" he says.

    I replied "That is okay, we will move our accounts as soon as possible. We can find a 2nd Amendment friendly bank that will be glad to have our business. You won't mind if I tell the NRA, SCI and everyone one I know that BofA is not firearms industry friendly?"

    "You have to do what you must" he said.

    "So you are telling me this is a politically motivated decision, is that right?"

    Mr Fox confirmed that it was. At which point I told him that the meeting was over and there was nothing let for him to say.

    I think it is import for all Americans who believe in and support our 2nd amendment right to keep and bear arms should know when a business does not support these rights. What you do with that knowledge is up to you. When I don't agree with a business' political position I can not in good conscience support them. We will soon no longer be accepting Bank of America credit cards as payment for our products.

[mirth]

Seems likely there is something more we aren't being told yet. Maybe there was some risk analysis of this guys business, how it's changed over the past few years and how it might impact his ability to pay on his lines of credit. They probably looked at a bunch of other things too - sales, expenses, etc.

I can't find anything indicating that other companies in the firearms industry have been dropped by BoA. And the NRA is holding off on comment until they can get detailed info.

[eyebiter]

.

[son_of_montfort]

Bank of America's War on the Second Amendment

Kurt Nimmo
April 24, 2012

Bankster giant Bank of America has joined the effort to take down the Second Amendment and deny Americans the right to own and use firearms.

This is sort of a strange assertion, given that - as a private company - BoA can refuse service to whomever they please. Just because people have the right to own firearms does not mean businesses have to personally support said right.

But LB is correct. What an odd move. Seems like a poor business decision, unless BoA is courting anti-gun advocates.

[Jarhead0331]

Bank of America's War on the Second Amendment

Kurt Nimmo
April 24, 2012

Bankster giant Bank of America has joined the effort to take down the Second Amendment and deny Americans the right to own and use firearms.

This is sort of a strange assertion, given that - as a private company - BoA can refuse service to whomever they please. Just because people have the right to own firearms does not mean businesses have to personally support said right.

But LB is correct. What an odd move. Seems like a poor business decision, unless BoA is courting anti-gun advocates.

So how would you feel if BoA stopped doing business with black people?  How about Catholics?  How about dorks who have spent a lifetime studying medieval history?  Is discrimination against those who hold certain political beliefs ok in your book, so long as they aren't your beliefs?

I didn't think so...as an educated, rational man, you know better...and I expect more.

[son_of_montfort]

So how would you feel if BoA stopped doing business with black people?  How about Catholics?  How about dorks who have spent a lifetime studying medieval history?  Is discrimination against those who hold certain political beliefs ok in your book, so long as they aren't your beliefs?

I didn't think so...as an educated, rational man, you know better...and I expect more.

False analogies. You are looking at individuals versus a company. Poor logic. The BoA could absolutely decided it did not want to do business with a company that makes, for example, replicas of Nazi uniforms or sex toys.

They can also deny me, as a "dork who spent a lifetime studying medieval history" a loan. They do this all the time. As a private business they withhold the right to refuse service.

Or are you suggesting that, because the Second Amendment is "so sacred" we should force private business to support gun manufacturers against their will?

I didn't think so... as an educated, rational man, you know better...and I expect more.  ::)