Louisiana Bans Bank of America, Citi from Bond Sale Over Gun Policies
- Commission votes to exclude top U.S. underwriters from deal
- Bank policies seen ‘infringement on the rights’ of residents
Photographer: Sergio Flores/Bloomberg
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Louisiana is using the bond market to stick up for the Second Amendment.
The state’s bond commission voted 7 to 6 Thursday to ban Bank of America Corp. and Citigroup Inc. from working on its upcoming debt sale because of the banks’ "restrictive gun policies," the state treasury said in a statement. Bank of America and Citigroup are the two top-ranked underwriters of long-term municipal debt, according to data compiled by Bloomberg.