Bank of America Wants to Do What it Can – Quote of the Day

bank of america gun control anne finucane vice chairman

courtesy politico.com

“We want to contribute in any way we can to reduce these mass shootings. It is not our intent to underwrite or finance military-style firearms on a go-forward basis.” – Bank of America vice chairman Anne Finucane in In a rare move, corporate America presses for gun-control restrictions ‘to take a stand’ [via latimes.com]

comments

  1. avatar Aaron says:

    gun companies need to claim they are muslim transexuals….THEN they would be protected from discrimination!

    1. avatar Muhammad says:

      Take my word on this, being Muslim isn’t very popular these days…

    2. avatar Geoff PR says:

      “THEN they would be protected from discrimination!”

      That is exactly what it is, and we had better start vigorously defending it as such…

    3. avatar nativeson says:

      The DOJ and Treasury need to initiate a investigation into BoA discriminatory policies. They are federally insured and subject to federal regulation. Also, the feds need to notify BoA they they intend to cease doing business with them as long as they discriminate against firearms companies.

      1. avatar GottaGetMeSome says:

        They are publicly traded on the New York Stock Exchange (BAC). They are not a privately held company. If some AG can file a law suit, BAC will have to prove the risks associated with underwriting a loan,
        a loan they’ve previously made to a solid performing customer, have become too risky. They will have to show where that risk comes from and how it negatively applies to the business of their customer, thus raising the risk to an unacceptable level, denying the loan. I don’t think they can prove any risk has changed. Gun companies are not sued because of shootings by the mentally ill. And gun manufacturers carry insurnace for such things. So, that risk doesn’t apply to BACs financial risk calculations used to process a loan. Thus, BAC is discriminating, which is illegal under current regulations, unless I’m mistaken. It just takes an AG with some brass nads. Hard to find these days. They all appear to be Ken dolls.

  2. avatar Timothy V Noecker says:

    GOD BoA, I Really Can’t Understand Them (Along with other Fortune 500 Companies a.k.a. Dick’s Sporting Goods, etc.) Having “Their Policies” – Do They Really Think Their Views Are Going To Change My Pro-Gun View? As a BoA Credit Card Customer, I’m Not Going To Cancel Their Service Anytime Soon, That Said I’m Not Going To Change My Stand On My Love For Firearms And My Constitutional Right To Bear Them Either!!!

    1. avatar Ragnarredbeard says:

      And this is why companies like BoA will continue to do stuff like this. You don’t like what they’re doing, but you keep your card/account with them. They are paying no price. You’re every bit as bad as they are for our rights.

      1. avatar Timothy V Noecker says:

        Trust Me, Whenever I Get a Better Card Offer Than The One BoA Is Providing Me I’ll Dump Them In a Heartbeat…

        1. avatar Joke & Dagger says:

          Or apply for this BOA credit card special offer with $150 rewards points. Spend $500 in 3 months, collect $150 cash back in rewards points, and cancel the card. Hit these bastards where it hurts.

          https://secure.bankofamerica.com/applynow/welcome.go?cvo_campaign=4020417&cvo_lob=cc&cvosrc=affiliate.cj.552179&cvo_format=text

        2. avatar John in AK says:

          You are like the woman who refuses to sleep with a man for $100, but would do so for $10,000.00. “How DARE you call me a whore?!” “Well, Ma’am, we already know what you are; We are only negotiating the price.”
          You are selling your Constitutional rights, and your rights as a free man, rather cheaply. I do give you full marks for the courage necessary to admit it so openly.
          How much is your vote, by the way?

    2. avatar strych9 says:

      Their goal isn’t to change your views on firearms or the 2A.

      Their goal is to try to see to it that you can’t use your own money to buy firearms, ammo or accessories.

      1. avatar Timothy V Noecker says:

        I’m Glad I Purchased My RUGER AR-556MPR with a Leupold VX-R Patrol Scope and Springfield Armory XD(M) Without Having To Use BoA Loaned Funds, LMAO…

        1. avatar Scoutino says:

          Springfield Armory, huh?
          Any particular reason why you capitalize every word?

      2. avatar John in IN says:

        Wrong. Their ultimate goal is to disarm you. If you should happen to lose your life while they do that, that’s a bonus.

        They want you either compliant or dead.

    3. avatar ironicatbest says:

      “Along with fortune 500 company’s”. I worked for a fortune 500 company, Donald Trump was/is a member.

    4. avatar Gutshot says:

      To make a stand, one must inconvenience himself, at least. Others must make larger sacrifices.

  3. avatar Moltar says:

    Wait isn’t BofA that one bank that keeps gettin hacked, don’t they take like a ton of money from customers, and didn’t the government fine them a whole bunch of money for something?
    Seems to me they ought not virtue signal as they have no virtues.

  4. avatar Shire-man says:

    I know as an investor the first thing I concern myself with is the politics of a company. Not the companies financials, growth potential or historical performance because, as an investor, money doesn’t matter to me one bit. I only care about the feelz. I can retire on feelz, right?

    1. avatar Bob999 says:

      A smart investor should do that always. History is full of examples where companies have committed financial suicide by latching onto an extreme political ideology. Sure, BOA is basking in the popularity of their move by leftist media, but how long is that going to last? During the next bailout or regulatory scwabble, BOA may be toast. If there is a suspicion that the executives cooled the books, how many state AGs will conduct probes into the finances of its executives so deep that only a penniless man would escape jail. See, BOAs executives disobeyed one key rule of business…stay out of politics.

  5. avatar Mark says:

    I think it’s time to have that “conversation” we put off in 2009 about breaking up the big banks – starting with b of a & citi. Both have settled multi-billion dollar lawsuits for intentionally defrauding the American taxpayers with bad loans.

    While “gun violence” has the ability to kill lots of Americans, so does another economic crash. During the last crash, my grandmother was asking her doctor which medications she could skip or cut in half in the event her pension & health insurance were canceled. Unemployed Americans without health insurance are a burden to our society & the bankers are personally responsible for lots of unemployed & homeless Americans.

    So, let’s have a “reasonable” “common sense” conversation about prevention of unemployment, poverty, drug abuse & suicide caused by irresponsible banks.

    1. avatar New Continental Army says:

      Great point. Sounds like it’s long past due we register all bank owners, force banks to conduct background checks on themselves before making transactiona, ban high capacity transfers, ban automatic transfers, and subjugate them to liability insurance.

  6. avatar a nother bloke says:

    “We want to contribute in any way we can to promote these mass shootings’ hoaxes. It is our intent to facilitate the banning of all military-style firearms on that bogus basis”

    fixed!

  7. avatar Jonathan-Houston says:

    And yet, you can walk into any sporting goods store (perhaps Dick’s) and use a Bank of America-issued credit card to purchase a trampoline. You can walk into Bank of America itself and receive a home improvement loan to put in that backyard swimming pool you always wanted.

    These two consumer products vastly outnumber firearms as a source of injuries and deaths among minors. They’re so much more dangerous that insurance companies demand disclosure if you have these and charge higher liability premiums if you do. On guns, they’re silent, except from a property loss standpoint. You’ll need to document your firearms ahead of any loss, to substantiate your claim.

    That has no relation to injury liability, however.
    That means that that an entire industry predicated on assessing and pricing risks and losses has determined that firearms are essentially an irrelevant source of danger. Still and all, Bank of America will happily assist and greedily profit from those pool and trampoline purchases that harm so many kids annually. What a monster.

    1. avatar strych9 says:

      Most insurance I’ve run across has oddball ways of insuring guns. They’ll insure a gun collection up to a point, a minor amount like $3000-$5000 but after that each gun needs an individual rider and fee.

      What insurance are you using that allows a blanket declaration? I’d love to switch policies on this.

      1. avatar Joke & Dagger says:

        NRA

      2. avatar Jonathan-Houston says:

        I must not have been clear. For property loss, they’ll usually allow you uo to $5K without any proof of value(s) in advance. For larger collections, yiu would neeed to have a rider itemizing the firearms and specifying their values. That would increase your premiums, but only from a property loss standpoint.

        From a injury liability standpoint, insurers don’t care how many firearms you have. You liability coverage is based on other factors, for example, whether you have a pool or trampoline. Or whether you have a dog. These carry higher premiums. Certain dog breeds carry surcharges even higher than general dog premiums. Sometimes carriers will outright exclude coverage for certain breeds. That doesn’t apply to firearms, though, which insurers do not view as presenting any particularly greater risk of injury than, say, a lamp or lawnmower.

  8. avatar Timothy V Noecker says:

    Good Point Mark, I Sometimes Wonder What Some americans Have Forgotten About More – 9/11 or the Economic Crash of the Major U.S. Financial Institutions and The Bailout of the Big 3 Automakers in Detroit…

    1. avatar dph says:

      Only 2 of the Big Three, Ford took no handouts.

      1. avatar i1uluz says:

        They took a very low interest loan from Dept of Energy to carry them over till 2022, just prior to the bail out, nice foresight in a very slick way of avoiding the “bailout”. I believe GM repaid their bailout money, Ford has till 2022 to repay their loans. Own a late model F150 or Mustang with an auto transmission, send GM a thank you note for the transmission design.
        https://www.forbes.com/sites/joannmuller/2016/09/21/trump-should-be-asking-will-ford-pay-off-its-government-loan-before-moving-small-cars-to-mexico/#307690e55e37

  9. avatar Leighton Cavendish says:

    So…no banking with military…cops…etc etc etc????
    Hypocrites much?

  10. avatar Jay in Florida says:

    Any of these companies that don’t support a legitimate business. Should not be supported by us.
    Toss away your B of A credit card just for starters. Take your banking accounts to some other bank.
    In the long run it might not make any difference to these giant companies.
    But it is the least one can do as an individual.

    1. avatar Timothy V Noecker says:

      Trust Me, As Soon As I Get a Better Card Offer I Will Be Dumping BoA Like a Bad Habit!!!

      1. avatar i1uluz says:

        If you can join a credit union by law credit unions can not charge as much interest on their credit cards as banks. A veteran? Navy Federal was given permission to allow all veterans to join as of last Nov or so.

      2. avatar Lou says:

        You are a hypocrite.
        Quit whining about the 2A and check your integrity.
        You have none.

  11. avatar Tt78 says:

    We need a definitive list of 2A friendly banks so I don’t have to keep changing banks 🙁

    1. avatar Timothy V Noecker says:

      We Need a Definitive List of 2A Friendly Fortune 500 Companies While Were At It!!!

      1. avatar ironicatbest says:

        D Trump was/ is a member of Fortune 500. I’m not saying that to bash Trump but it’s the truth. I worked for a fortune 500 company and his name was on the list of members

  12. avatar former water walker says:

    Hmmm…my wife has a BOA account. And my meager SS check is deposted in said bank every month. It would be a royal pain to change(and I have little say).Oh hey can’t folks just get cash from their BOA card to get a gat?!? Seriously…😩

    1. avatar Ken says:

      It’s not difficult to change and it only takes a few minutes. I recently changed banks because the small bank I used was closing the branch near me.

    2. avatar Lurker says:

      Have you heard of the Direct Express debit card that the Fed uses as its deposit account for federal payments, such as SS retirement / disability, military retirement, fed employee retirement, etc? It’s what I have my SS disability deposited to, was easy to set up, has only a few (avoidable) low cost fees, and is all online. And is very safe, and secure. I highly recommend it.

  13. avatar Lava Shark says:

    I had a BoA credit card for over twenty years, and made them a lot of profit. Cancelled it this week. Why give money to the those that wish to destroy our freedom?

  14. avatar Andrew Lias says:

    These people need to keep out of my gun room. What would the outcry be if they wouldn’t finance medical device makers who sold to Planned Parenthood?

  15. avatar Stateisevil says:

    Kind of strange to think that one day, unless we have a respected scotus decision protecting semi automatic rifles and standard magazines, we’ll have to use the 2nd amendment to keep legally purchasing them. More likely, they’ll ban new purchases and we’ll just accept it once the legal avenues are closed.

  16. avatar ironicatbest says:

    I don’t think in the history of America has a bank ever pulled a stunt like this. My internet loads to slow but I’d like to know how many banks are associated with bank of America.Kinda like the insurance company’s, bunch of different names and it’s all Ohio Casualty, or some shit. Is Bank of America owned by another bank?- – – my tin foil hat says” Illuminati conspiracy”..>. D Trump was/ is a member of fortune 500

    1. avatar Rick_in_NH says:

      TD Bank did it. From “The Daily Caller” 5/31/14:

      A Massachusetts gun store owner says it’s “too late” for a bank to mend a relationship that it broke.
      Mark Cohen, who owns Powderhorn Outfitters, a Hyannis, Mass. gun retailer, said that his longtime bank, TD Bank, refused to extend a line of credit because of the business he is in.
      Cohen explained what happened in an interview with The Daily Caller on Friday.
      “This year I went to apply for a line of credit, and the bank manager came by the store,” said Cohen, adding that he’s known the bank manager for over 20 years.
      “Mark, I apologize,” she said, according to Cohen, “your credit history is great, but the bank is turning you down because you sell guns.”
      Cohen told his friend and lender that he would have no choice but to close his accounts with the bank since they couldn’t provide the services his company needs.

      1. avatar Gary Ramey says:

        Honor Defense had the same thing happen from Regions Bank and SunTrust.
        They do not want to business with firearms companies.

        But Georgia has a Firearms Discrimination law, and you’ll soon hear more about some activity regarding this.

  17. avatar H says:

    BofA was busted again for their unethical lending policies. This will make them look good to their liberal customers. (Sarcasm) (Maybe)

  18. avatar David Thompson says:

    The same company that railroaded thousands into foreclosure by deliberate delay tactics. Yes, we should look to these scumbags for moral guidance, right?

  19. avatar Bierce Ambrose says:

    So, when BofA declines to finance creating a custom, 2A decorated cake, we can sue them?

    Or, the feds will sue them for us, for discrimination?

  20. avatar Bierce Ambrose says:

    At what point do gun owners count as a persecuted minority, for civil rights purposes. Asking for a friend.

  21. avatar Bierce Ambrose says:

    People wearing masks, showing up a night, in mobs, threatening other people’s businesses, homes and families to intimidate, extort, suppress … one of those … those folks who “Ain’t like us…” out of the political process.

    It seems like I’ve seen this movie before.

  22. avatar Skinnedknuckles says:

    After over 40 years banking with BofA and predecessor banks, I closed all my accounts with them two weeks ago. I also cancelled my Dick’s “Sports Card” as well. What’s in your wallet?

  23. avatar Tom in Oregon says:

    I’m glad I dumped them years ago.

  24. avatar N64456 says:

    Regarding “gun violence”:

    #DemocratsAreRapists
    #DemocratsAreNarcoticsTrafficers
    #DemocratsAreArmedRobbers
    #DemocratsAreMurderers

    #DontBeADemocrat

  25. avatar Ed Rogers says:

    Bank of America is a company without a soul. I’m pretty certain they’re just as guilty of defrauding their customers as Wells Fargo but just haven’t been caught yet.

    I won’t do business with them, anymore.

    1. avatar Ralph says:

      “I’m pretty certain they’re just as guilty of defrauding their customers as Wells Fargo but just haven’t been caught yet.”

      Oh yes it has. Many times.

      https://www.alternet.org/rss/breaking_news/382416/bank_of_america_admits_fraud_in_us_antitrust_case

      https://www.justice.gov/opa/pr/bank-america-pay-1665-billion-historic-justice-department-settlement-financial-fraud-leading

  26. avatar Captn John says:

    Have had a card with them used at times but never carried a balance, hate interest rates. Cut my card and my wife’s card and mailed it to them with a notice to cancel both accounts and the reason why.

  27. avatar skiff says:

    She’s married to Mike Barnicle who cheated on his first wife. He was also fired by the Boston Globe for plagiarism.

  28. avatar Jim Bullock says:

    So, BofA is funding suicide intervention hotlines? Mental health services? Gang interdiction task forces? (They’re deeply involved on Long Island, right now, of course.) Advocating for both?

    Oh, so very interested in doing none of the things that we know might help. Got it.

  29. avatar Lou Bethel says:

    Ironic that a federally regulated business is saying another federally regulated business is the issue.

    The issue is we don’t enforce laws.

    It’s compunded by 2A supporters that don’t want to be inconvenienced by dropping Bank of America or changing credit cards.

    They are a sorry group of candy-asses that want to whine, but not do anything.
    Members of the law enforcement, the military, 2A supporters and those that created this country are insulted by your self-centered mentality.

    Go brag about owning guns and use your BoA card.
    But PLEASE DON’T inconvenience yourself by having integrity you two-faced POS.

  30. avatar Dale says:

    I am not even going to discuss the discriminatory lending practices, I hope the courts do that soon! Instead, I am going to say that I follow how the industry reacts to announcements like this because voting with our wallet is the only thing we can do. I will buy more product from companies that denounce these companies like those below. Supporting companies that share our beliefs by purchasing from them is the only thing we can do, so no more BOA or Dicks Sporting goods for me.

    https://www.strikeforceenergy.com/blogs/news/veteran-owned-energy-drink-company-cuts-ties-with-bank-of-america-due-to-unfair-business-practices

    1. avatar Lou Bethel says:

      Or WalMart.
      They are the worst.

  31. avatar Joe R. says:

    If bankers have enough time to concoct stupid shit like this, they’re obviously under-regulated and under-taxed.

  32. avatar David W Freeman says:

    Can anybody recommend a bank who is if not pro-2A may one that is agnostic?

    1. avatar Gary Ramey says:

      BB&T

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