BANK OF AMERICA TO STOP LENDING TO MAKERS OF ‘MILITARY-STYLE FIREARMS’

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Bank of America plans to stop lending to manufacturers of “military-style firearms” used by civilians, an executive told Bloomberg.

“We want to continue in any way we can to reduce these mass shootings,” Anne Finucane, vice chairman of Bank of America (BAC), said in an interview. “It is our intention not to finance these military-style firearms for civilian use.”

Finucane said the bank does “have a few manufacturers of military-style firearms.”

“We’re in discussion with them. We have let them know that it’s not our intent to underwrite or finance military-style firearms on a go-forward basis,” she said.

Finucane was referring to the AR-15-style semiautomatic rifles produced by gun companies like Remington Outdoor Company. Remington made the Bushmaster used in a 2012 mass shooting that killed 26 children and educators at an elementary school in Newtown, Connecticut.

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