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JPMorgan Owns a Chunk of a Gun Company. Now What?

While others have distanced themselves from the industry, the bank accidentally finds itself in America's fraught gun debate.
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Photographer: Daniel Acker/Bloomberg

JPMorgan Chase & Co. is now the reluctant part owner of Remington Outdoor Co. after a national debate over gun rights has led other companies to reconsider their relationships with the firearms industry.

JPMorgan Asset Management, which handles client funds, was one of Remington's biggest lenders before its bankruptcy and bought the debt without knowing it would one day end up owning the company, one of America’s largest and most historic gunmakers. During the bankruptcy, JPMorgan supplied, along with Franklin Templeton, the $100 million loan to carry it through and out of the Chapter 11 process.