Bank Of America Defunds Gun Makers, Immediately Regrets That Decision

One of the nation’s’ largest banks has decided to cut ties with the manufacturers of so-called “military-style firearms,” cutting off their finances. Anne Finucane, a vice chairman at Bank of America, said that the bank made its decision after months of discussion. However, the bank found out very quickly that their decision was going to have tremendously negative effects.

AR 15s (Photo Credit: RHONA WISE/AFP/Getty Images), Bank of America (Photo Credit: Daniel Tepper/Bloomberg/Getty Images)

“We want to continue in any way we can to reduce these mass shootings,” Finucane said in an interview with Bloomberg Television. “It is our intention not to finance these military-style firearms for civilian use.” She added that the bank was currently doing business with “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. “They’re our clients, and we have enjoyed a relationship, but there are those that I think will reduce their portfolio, and we’ll work with them, and others that will choose to do something else.”

Naturally, Anne Finucane, like most people who have designs on limiting the right to bear arms for law-abiding Americans, has no earthly idea what she is talking about. If by “military-style weapons” she means AR 15 rifles, then she should be told that if soldiers went into battle with AR 15s, they would not live very long. Soldiers use very different weapons and, while the AR 15 looks like one of those weapons, it does not function in the same way.

It is insanely frustrating to hear people like her, in positions of power with the ability to cripple a basic American right, opine on guns when they get the basic facts incorrect. There is nothing military about semi-automatic weapons. But facts don’t much matter when it is your intention to virtue signal.

Everytown For Gun Safety, a liberal group that seeks to annihilate the Second Amendment, celebrated Bank Of America’s decision. “When the second-largest bank in the US takes concrete steps to prevent gun violence, it sends a clear message to the entire industry: It’s time for every financial institution to do their part,” the group’s president John Feinblatt said in a statement.

But, as expected, the National Shooting Sports Foundation was not happy with the move and with the bank’s portrayal of non-military weapons as “military style” guns. “We as an industry would welcome the opportunity to sit down with Bank of America executives to explain our industry’s perspective and to discuss what really would work to keep firearms out of the hands of those who should not have them,” NSSF spokesman Michael Bazinet, said in a statement, CNN reported.

The National Shooting Sports Foundation was not the only group that was angry with Bank of America’s stand. One look at Twitter would show the bank that it made a very bad decision. Within minutes of the announcement, a “Boycott Bank Of America” movement began to take shape on the social media website.

“Beginning my boycott of Bank of America. You want to not lend to gun makers? Well I am going to be contributing to your demise,” wrote one user.

“Everyone who gives a damn about the #2A, as well as every #NRA member, at a bare minimum, should boycott any bank that refuses to lend to gun makers because of some cosmetic feature. Especially one named BANK OF AMERICA!” said another.

“I’ve been a BofA customer for over 25 years, but this makes me rethink keeping my accounts there,” another Twitter user said.

“@BankofAmerica well it is time to close my life long bank account. I think Bank of America to remove ‘America’ from it name. They don’t support our country,” wrote another customer.

Bank of America and other businesses can virtue signal as much as they want, but there will be consequences for bowing to the anti-gun liberals. One of those consequences is losing the support of the millions of Americans who believe in what the Constitution stands for. The question is, will those consequences be the demise of the banking giant?

Mad World News provides commentary on real news stories. The information presented is the opinion of the author.