Bank Of America Will No Longer Finance Companies That Make Military-Style Guns For Civilians

“We want to contribute in any way we can to reduce these mass shootings."

The debate over gun control has intensified since the February 14 school shooting in Parkland, Fla. Companies such as Delta, Enterprise Rent-A-Car, and Dick's Sporting Goods made headlines for their policy changes. Now entering the debate is Bank of America, which will no longer lend to companies that make military-style guns, per The New York Times.

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The company made the announcement April 10, joining the ranks of Citigroup, which announced restrictions on the sale of certain types of firearms by its business customers in March. According to an appearance by the bank's vice chairwoman, Anne M. Finucane, on Bloomberg TV, the company has had "intense conversations over the last few months" with a small group of gun manufacturers it works with before making the announcement. As one would expect, the executive volunteered that that the reactions to the talks were mixed.

However, those reactions didn't deter the bank from going forward with their plans. "We want to contribute in any way we can to reduce these mass shootings," Finucane told Bloomberg TV.

Some political heavyweights have already weighed in via social media about the decision. New York Gov. Andrew Cuomo chimed in on Twitter, writing, "I hope more companies follow Bank of America." Sen. Chris Murphy from Connecticut also sang Bank of America's praises on Twitter, tweeting, "Good to see [Bank of America] joining other companies like [Citibank] in doing their part to keep communities safe from gun violence." 

Some Second Amendment purists aren't taking to kindly to the bank's actions though. Some are threatening to move their money to another bank altogether. Others are commenting on the matter using the hashtags "#BoycottBOA" and "#BoycottBankOfAmerica," which are both gaining traction on the social network.

Cover image via Tero Vesalainen / Shutterstock.com.

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