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Bank of America Will Stop Lending to Makers of ‘Military-Style’ Guns

The bank doesn’t want to “underwrite or finance military-style firearms.”

Bank of America announced Tuesday that it will stop lending to clients that manufacture “military-style” rifles and sell them to civilians. “It’s not our intent to underwrite or finance military-style firearms,” Anne Finucane, Bank of America’s vice chair, told Bloomberg TV in an interview. The bank, which is the second largest in the country, does business with Vista Outdoor, Remington, and Sturm Ruger, according to CNBC. “We have had intense conversations over the last few months,” Finucane said. “And it’s our intention not to finance these military-style firearms for civilian use.” She added that some clients “will reduce their portfolios,” while others “will choose to do something else.”