Bank of America won't lend to military-style weapon makers, report says

Posted at 12:35 PM, Apr 11, 2018
and last updated 2018-04-11 12:35:26-04

Some gun makers won't be able to use Bank of America's money to support their businesses anymore. 

Bank of America Vice Chair Anne Finucane told Bloomberg TV Tuesday that the bank will no longer finance gun companies that manufacture "military-style" rifles for the public. 

The bank had previously said it was looking for ways to help stem violence after the school shooting in Parkland, Florida. 

Finucane did not identify which companies Bank of America is cutting ties with. 

American Outdoor Brands, which owns Smith and Wesson, and Sturn Ruger both make AR-15 rifles

According to CNBC, Bank of America has lent money to Sturn Ruger in the past. 

When asked if the bank plans to stop doing business with retailers that sell guns, Finucane said that would involve complicated civiil liberties and Second Amendment issues.