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-   -   Do not do business with Bank of America! (http://www.firearmstalk.com/forums/f97/do-not-do-business-bank-america-62968/)

GaryE 04-21-2012 01:49 AM

Do not do business with Bank of America!
 
BREAKING: Bank of America Reportedly Drops Gun Company for Political Reasons
The reported reason: they simply do not want to be associated with gun companies.

by
Bob Owens

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April 20, 2012 - 12:30 pm
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Bailout recipient Bank of America has severed relations with an American company because of a reported bias against their industry. McMillan Group International released an extraordinary statement on Facebook regarding the incident:

McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group International have been collectively banking with Bank of America for 12 years. Today Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking, Global Commercial Banking came to my office. He scheduled the meeting as an “account analysis” meeting in order to evaluate the two lines of credit we have with them. He spent five minutes talking about how McMillan has changed in the last five years and have become more of a firearms manufacturer than a supplier of accessories.

At this point I interrupted him and asked “Can I possible 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 what my business.”
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“That is correct” he says.

I replied “That is okay, we will move our accounts as soon as possible. We can find a Second 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 let for him to say.

McMillan is now refusing to accept Bank of America cards from customers for payment.

McMillan is heavily involved with U.S. national security. McMillan rifle stocks are the standard for the Marine Corps’ favored M40A3 sniper rifle. McMillan products, from stocks and other accessories to complete rifles, are used by U.S. regular and special forces and by American military allies around the globe.

McMillan products are of particular import in Afghanistan and in Iraq, where snipers and designated marksmen armed with long-range precision rifles performed (and still perform) vital scouting and overwatch functions protecting maneuver units. The extended range of these weapons allows forces to engage with and destroy enemy forces before they are in range to accurately fire against American soldiers and Marines.

Per McMillan’s statement, a politically partisan bank has severed the lines of credit to a company important to our national security. This act has likely added difficulty to the company’s ability to operate, to research product improvements, and to deliver products on time. Bank of America’s stance — especially if this signals a new policy regarding dealing with all arms manufacturers — could potentially effect the readiness of American soldiers in combat zones and the operational efficiency of some of America’s most highly trained and effective units.

Bank of America was the recipient of well over 100 billion dollars in federal money. They are also one of just two vendors processing payments for Barack Obama’s 2012 presidential campaign, employing a system that disables safeguards against illegal foreign donations. Bank of America Stadium in Charlotte, North Carolina, is the site of the Democratic Nation Convention in September.

This is at least the third time Bank of America has implemented a discriminatory policy against gun manufacturers. In early 2001, a scandal erupted over the bank’s attempt to discriminate against another Arizona-based company. The resulting public outrage forced a reversal of the policy.

In 2010, Bank of America attempted a similar action, and was again forced to “clarify” their position:

Bank of America does not have a corporate-wide policy to deny banking services solely on the applicant’s involvement in the firearms industry.

No other gun manufacturer or gun rights group has reacted to the McMillan Facebook post at this time.

PlaysWithZombies 04-21-2012 01:50 AM

I don't deal with ANY banks, for any reason so i guess it won't be a problem for me :D

GaryE 04-21-2012 01:57 AM

Quote:

Originally Posted by PlaysWithZombies (Post 777419)
I don't deal with ANY banks, for any reason so i guess it won't be a problem for me :D

Actually it is a problem. Regardless that we don't do business with them we cannot allow them to get away with this without opposition. Its just another way of the Obama administration attempting to do away with our firearms.

texaswoodworker 04-21-2012 02:02 AM

I don't use big banks like that. My bank is a small, community based one that treats it's customers right. Really, they don't make any money off me directly, and I gain virtually nothing through interest, but it works for me, and I have never had a problem with them. :D
They made a stupid decision buy dropping them. That was a lot of money that will be going elsewhere now.

canebrake 04-21-2012 02:09 AM

I loathe BOA!

This just confirms my feelings.

I wouldn't walk across the street to piss on them if they were on fire. :(

DodgerBlue 04-21-2012 02:28 AM

any ol bank will do. no biggie

colmustard 04-21-2012 02:57 AM

If you want a ompany or bank to listen to you, you need to talk with your money. I bank with a small town bank. I try not to shop at big stores that have a stance against any of our rights. Buy local and buy smart! Leave the big banks and go to a local bank. Quit wal-mart and shop at family owned places. I know it is hard to do, but its the only way they will listen, and even if they dont listen they will not have any money from you to use as a means of stripping your rights.

RJMercer 04-21-2012 05:21 AM

I love it when these socialists show their colors. This right here is why I'm a big fan of the Citizens United ruling. When a company votes with its wallet they have to report it. And you bet your buns I vett a company before I do business with em. I vote with my wallet every payday. In fact I'm going to switch banks because the one I use now sells loans to the BOA. No more.

wjnfirearms 04-21-2012 11:46 AM

I do my business banking through a more local bank that is happy to get my business. I'm a minute fraction of McMillan in comparison and they still treat me like a person they want to do business with. That's the way it's supposed to be. Not all bigger banks are schmucks. My personal banking is through PNC and they have always treated me with respect and I've had no problems with them, ever. I've never heard of PNC having any issues with firearm related businesses, or any legitimate business for that matter.

My RV is almost paid off and it got financed through B of A when I bought it in 2005 in Delaware. As soon as it's done, no more dealings with those a##h&@%s for my family. If I desperately needed a new car or a loan for whatever and they were the only bank that approved my credit, I'd rather beg, borrow or steal than give them another dime.

partdeux 04-21-2012 12:38 PM

McMillan isn't even a speed pebble on the road...
Check out the real money

Quote:

Bank of America has a derivative exposure of $50.135 Trillion dollars.

BofA is sticking the tax-payers with a MASSIVE bill, by moving derivatives to
accounts insured by the federal government @ total of $53.7 trillion as of 06/2011.
During 2011-12 BofA has been in need of cash, so Warren Buffett gave BofA $5 billion.
Same year BofA sold its stake in China Construction Bank to raise $1.8 billion in cash.


Bank of America paid $22 million to settle charges of improperly foreclosing on active-duty troops
BofA recruited 3 cyber attack firms to attack WikiLeaks. but the Anonymous hacker group hacked the security firms first.
BofA was sued for $31 billion in home-loan losses in 2011, the bank is involved in many lawsuits, too many to document.
BofA also received a SECRET $1.344 trillion dollar bailout from the Federal Reserve.


source


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