Sean is spearheading this story
After receiving two bailouts totaling over $25 billion of OUR dollars, plus untold numbers of “sweetheart deals” like dumping worthless loans on taxpayer-backed Fannie Mae and Freddie Mac, is Bank of America continuing to pillage our nation’s economy by launching a concerted assault on gun-related businesses?
According to Kelly D. McMillan, Director of Operations, McMillan Group International, LLC, the company was recently informed that Bank of America is no longer willing to hold the accounts of their gun-related business. Here is McMillan’s account of the exchange between himself and Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking, Global Commercial Banking:
“’Can I possibly save you some time so that you don’t waste your breath? What you are going to tell me is that because we are in the firearms manufacturing business you no longer want my business.”
“’That is correct” he says.
“I replied ‘That is okay, we will move our accounts as soon as possible. We can find a 2nd Amendment friendly bank that will be glad to have our business. You won’t mind if I tell the NRA, SCI and everyone one I know that BofA is not firearms industry friendly?’
“’You have to do what you must,” he said.
“’So you are telling me this is a politically motivated decision, is that right?’
“Mr. Fox confirmed that it was. At which point I told him that the meeting was over and there was nothing left for him to say.”
McMillan manufactures stocks for the M40A3 sniper rifle used by our Marine Corps designated marksmen. The severing of credit lines potentially jeopardizes production of these weapons currently used by our forces in Afghanistan.
Thankfully I’ve always kept my money in local banks, and I’ve been VERY happy with the service I get. Hell when we got back from our Virginia vacation we realized we forgot to mail our mortgage bill out before we left. It was due the next day so I just stroked a check and walked (WALKED) to the bank and hand-delivered the payment.
So even without the politics, I’d recommend finding a small local bank….if that’s not an option find a bank that isn’t one of these anti-gun bailout mooching bastards!
What with debit cards in most places nowadays, you don’t even have to worry about “No out of state checks” and things like that anymore, which would be about the only reason I would want to be involved with a big national bank.
I posted over at Sean’s and I hope you don’t mind me doing the same here.
I’ve got a good friend who has worked for YEARS in the gun industry and he’s telling me that the negative BOA incidents, although well blogged, are actually few and far between. He knows a bunch of industry related companies that have a good relationship with BOA.
It seems that NSSF is looking into the whole BOA thing: http://www.nssf.org/Industry/
I’m curious to see what NSSF comes up with since they represent the gun industry not BOA.