Skip to content
Search AI Powered

Latest Stories

Bank of America Just Announced a Major Policy Change to Stand Up Against Gun Violence

Bank of America Just Announced a Major Policy Change to Stand Up Against Gun Violence
A Bank of America sign is seen in Chelsea, New York on January 8, 2018 in New York. (Photo BRYAN R. SMITH/AFP/Getty Images)

Will other banks follow?

Bank of America announced it will stop lending money to manufacturers of military-style guns sold for civilian use, Vice Chairman Anne Finucane said yesterday.

"We want to contribute in any way we can to reduce these mass shootings," she said, adding that the bank works with “just a handful of manufacturers,” with whom it has had “intense conversations over the last few months." Bank of America does not intend "to finance these military-style firearms for civilian use," Finucane said, noting that reactions to the new policy have been "mixed."


Although Bank of America would not name any of the gun manufacturers it works with, its clients include such brands as the American Outdoor Brands Corporation (which owns the Smith & Wesson brand), Remington (which last month filed for Chapter 11 bankruptcy protection), and Sturm Ruger & Company.

"These are clients we have enjoyed a relationship with," Finucane said. "There are those I think will reduce their portfolios and we'll work with them and others that will choose to do something else."

Finucane stressed that Bank of America will continue to offer banking services to firearms retailers. Asking gun retailers to not sell certain types of handguns or long guns “gets into civil liberties” and is “a ways off,” she said.

The announcement comes after the bank, which is headquartered in Charlotte, North Carolina, disclosed in February that it was reaching out to clients that manufacture assault weapons for non-military use "to understand what they can contribute to this shared responsibility."

Reaction to the policy change has indeed been mixed, as social media posts can attest.

Representative Ted Deutch (D-FL) praised the bank for recognizing that "weapons of war don't belong in civilians' hands."

Others also extended their praises to the bank.

While others slammed the corporation for being "anti-Second Amendment":

Bank of America is not the only bank to weigh in on the debate surrounding gun violence that has engulfed the nation nice Nikolas Cruz gunned down 17 people at Marjory Stoneman Douglas High School in Parkland, Florida, on Valentine's Day.

Last month, Citigroup became the first big bank to issue new policies to gun manufacturers, saying it would bar companies with which it does business from selling firearms to people under 21 years old and prohibit clients from selling high-capacity magazines and bump stocks, which make guns fire bullets more rapidly.

That's a stark difference from comments made last month by Wells Fargo CEO Tim Sloan, who said the bank is speaking with gun manufacturer clients but balked at the idea of barring people from buying guns.

"I don't know if banks or credit card companies or any other financial institution should be the arbiter of what an American can buy," Sloan said at the time.

Corporations outside the financial sector have also taken a stand.

In February, shortly after the Parkland shooting, Dick's Sporting Goods, a sports and outdoors accessory and equipment retailer, announced it would no longer sell assault rifles, high capacity magazines or bump stocks, and would prohibit anyone under the age of 21 from purchasing a firearm.

The same day Dick's Sporting Goods made its announcement, Walmart announced will stop selling guns and ammunition to anyone under 21.

More from News

Screenshots from Dove's ad featuring transgender women
Dove

'One Million Moms' Calls For Dove Boycott Over Hair Care Ad Featuring Trans Woman

The vehemently transphobic conservative group One Million Moms (OMM)—an arm of the Christian fundamentalist nonprofit American Family Association (AFA)—called for a boycott of Dove products after the company featured a transgender woman in an advertisement for their Damage Therapy Intensive Repair Conditioner.

The ad garnered attention after it was shared by the social media account Libs of TikTok—run by the anti-LGBTQ+ conservative Chaya Raichik—which described the ad as an example of "another woke company trying to erase women."

Keep ReadingShow less
Alyssa Milano; Julian McMahon
Michael Kovac/Elton John AIDS Foundation/Getty Images; Marcus Ingram/The Surfer/Getty Images

Alyssa Milano Shares Poignant Tribute To 'TV Husband' Julian McMahon After His Death At 56

Actor Julian McMahon lost his battle with cancer at the age of 56 earlier this week, and to say that the Charmed, Nip/Tuck, and Fantastic Four actor touched many lives would be an understatement.

When the news of McMahon's passing went public, his Charmed costar and "TV wife" Alyssa Milano came forward and expressed her sadness and condolences on Instagram. The pair were a favorite couple on Charmed, and it was clear from her post that their care for each other extended beyond the screen.

Keep ReadingShow less

People Who Slept With Their Best Friend Describe The Aftermath

When two people have a deep and meaningful friendship, the question might eventually come up of whether or not they could be more. Agreeing that their friendship might deserve more, they might try to date or at least explore physical intimacy.

But crossing that line carries with it consequences, and it's only once the pair crosses that line that they'll find out if crossing it was good or bad.

Keep ReadingShow less
child writing on chalkboard
Leonardo Toshiro Okubo on Unsplash

Bilingual People Explain Which Words They're Surprised Don't Exist In English

According to one report, approximately 3.3 billion people worldwide—43 % of the population—are multilingual, meaning they speak at least two languages. According to the last Census, 21.6% of people in the United States speak more than one language, while in the United Kingdom, the number is 36%.

More multilingual people speak English as a second language than English speakers who have learned another language besides English. Worldwide, people who learned English as a first language rate among the lowest in multilingual rates.

Keep ReadingShow less
Andrew Garfield at the 2025 Glastonbury Festival
Harry Durrant/Getty Images

Andrew Garfield meets fan with wild tweet!

American actor Andrew Garfield had a funny yet awkward reunion with a fan from a viral “Thirst Tweet” featured on Buzzfeed Celeb.

The Thirst Tweet compilation shows celebrities reading a collection of scandalous tweets from fans commenting on their looks, attractiveness, and sex appeal. Blushing stars include James McAvoy, Renee Rapp, Keanu Reeves, Anthony Mackie, and more recently, Brad Pitt and Javier Bardem, as they promote F1 the Movie that was released in theaters last week.

Keep ReadingShow less