Bank of America signals relationship with Remington over after bankruptcy exit

By Daniel Terrill

A man who wants you to vote on May 22 checks out the selection at the Remington booth during the NRA show in Dallas on May 5, 2018. (Photo: Daniel Terrill/Guns.com)
Bank of America said that its policy on financing makers of military-style rifles for civilians has not changed despite confusion over the bank providing a $43.2 million loan to Remington Outdoor Company when it emerges from bankruptcy.
BoA vice chairwoman Anne Finucane said in a statement last week that they had already been working on a deal when executives opted to change company policy on lending to gun makers. She explained when she made the announcement that it would be “on a go-forward basis.”
“The Remington bankruptcy financing commitment was in the works for some months and occurred before our current policy was in place,” Finucane said. “Remington is aware of the policy that we subsequently announced, and that policy will dictate our future actions after the bankruptcy proceedings conclude.”
Last month, BoA changed its policy in response to February’s school shooting in Parkland, Florida that left 17 people dead and 15 others injured. The gunman had used an AR-15 rifle, an item Finucane described as having “an outsized role in the mass

Source: Guns.com