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BofA Will Stop Lending to Makers of Assault-Style Guns

  • Gunmakers’ reaction is ‘mixed,’ as Brady Campaign praises move
  • ‘Why would anyone want to help finance assault weapons?’
Bloomberg business news
Anne Finucane, co-vice chairman of Bofa, discusses reduced exposure to coal and lending to gun companies.Source: Bloomberg
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Bank of America Corp. plans to stop lending to companies that make assault-style guns used for non-military purposes.

“It’s our intention not to finance these military-style firearms for civilian use,” Anne Finucane, a vice chairman at Bank of America, said Tuesday in a Bloomberg Television interview. The firm has had “intense conversations over the last few months” with those kinds of gun manufacturers to tell them it won’t finance their operations in the future, she said.