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BofA’s Gun Dilemma Is Just the Start

  • Bank CEOs face growing demands over social issues, environment
  • Wells Fargo has resisted calls to stop lending to gunmakers

Bank of America Corp.’s workers have seen mass shootings up close. One of its locations was just steps from a 2016 attack targeting Dallas police officers. And when newspapers profile the dead, company staff appear among the mourners.

The firm revealed last week that the number of employees directly affected by mass shootings over the years has topped 150, prompting the company to announce it will no longer finance makers of assault-style firearms sold to consumers. And with that, the second-largest U.S. bank crossed a line that big financial firms usually strain to avoid, taking a side in the nation’s many culture wars.