National Bank of America to stop lending to gun manufacturers

[ZigZagZeke]

Banner Bank is locally owned and doesn't take political positions. Their customer service is phenomenal.

 

[MilitantBEEMER]

Banner Bank is locally owned and doesn't take political positions. Their customer service is phenomenal.

I am pretty sure Banner is the bank that supports the annual Douglas County Friendsnof the NRA banquet every year... will have to reach out to the coordinator for DCFNRA and verify

 

[IOM]

Wish I had an account there I could close. Maybe I'll open one up to just close it in a week to make a point.

Don't forget to ask for the free toaster when opening the account...!!!





Oh, they don't do that anymore do they...???

 

[winsler]

My banking is with Onpoint and my mortgage with banner. Staying clear of the mega box store banks

 

[jrd541280]

Bank of America sucked, sucks and always will suck!!!

 

[308]

Interesting an entity stating they will not allow another entity to buy or sell unless the later come on board with their world view.

After these test runs, it will trickle down to the individual.

 

[Tony617]

Banner Bank is locally owned and doesn't take political positions. Their customer service is phenomenal.

I will check out Banner Bank since there are several locations close by.

 

[Dungannon]

Senator John Kennedy [R, Louisiana] just weighed in on this...

WASHINGTON (Reuters) - A U.S. senator on Thursday criticized Citigroup Inc and Bank of America Corp's restrictions on lending to firearm makers and sellers, saying the new policies were wrongly politicizing banking services.

Speaking during a hearing on the Consumer Financial Protection Bureau (CFPB), Republican Senator John Kennedy said he planned to personally file complaints with the U.S. consumer watchdog regarding the firearm policies.

"Our friends at Citigroup and Bank of America apparently aren't busy enough with their banking business; they have decided that they are going to set policy for the second amendment," the Louisiana lawmaker said, referring to the component of the U.S. constitution that protects citizens' rights to bear arms.

On Tuesday, Bank of America said it planned to stop lending to companies that make military-style firearms for civilians, making it the second major U.S. lender to address gun sales after the Florida high school shooting that left 17 dead in February.

Last month, Citigroup added restrictions on firearm sales for new retail-sector clients, requiring them to sell firearms only to customers who passed a background check, restrict sales for buyers under 21, and not sell so-called bump stocks or high-capacity magazines.

Kennedy said he believed it was wrong that the lenders, both of which received taxpayer-backed funds during the 2007-2009 financial crisis, seemed to be politicizing banking services.

Consumers are able to file complaints about banking and financial services providers via the CFPB's public complaints database which can lead to formal investigations by the bureau.

"Do you think that's appropriate?," Kennedy asked Mick Mulvaney, the interim head of the CFPB who was testifying before the panel on Wednesday. Mulvaney said to the best of his knowledge the CFPB had not yet received a complaint regarding Citigroup and Bank of America's stance on providing services to companies that sell firearms. Kennedy said he planned to file such a complaint against the banks and hoped the CFPB would consider it.

"As we have with other industries that have reputational implications, we created standards based not on ideology, but on established best sales practices, which most of the businesses we work with currently follow," said a spokesman for Citigroup.

A spokesman for Bank of America said he did not have any additional comment beyond Tuesday's announcement.

Mulvaney, the interim head of the CFPB, said he found the banks' decision "troubling" but he was not inclined to wade into the issue.