Posted April 30, 2018 5:30 am by Comments

By Christen Smith

The Senate Banking Committee wants answers from Bank of America after it decided to stop lending to manufacturers of AR-15s. (Photo: Bank of America/Facebook)
The nation’s second largest bank faces a long list of questions from Congress over its decision to cut ties with gun makers producing AR-15 rifles.
Senate Banking Committee Chairman Mike Crapo, an Idaho Republican, blasted Bank of America for the policy announcement in a letter submitted to Chief Executive Officer Brian Moynihan last week, accusing the company of “seeking to replace legislators and policymakers.”
“It is deeply concerning to me when large national banks like Bank of America, which receive significant forms of government support and benefits, use their market power to manage social policy by withholding access to credit to customers and companies they disfavor,” Crapo said in the letter dated April 25.
Anne Finucane, BoA vice chairwoman, publicly announced the company’s decision to cut ties with gun makers during an interview with Bloomberg television earlier this month. The move came nearly two months after a teenager murdered 17 and wounded 17 others at his former high school in Parkland, Florida armed with an AR-15.
“We have had intense conversations over the last few months and it’s our intention not

Source: Guns.com

Leave a Reply

Your email address will not be published.