Bailout Bank Drops Gunmaker - "Political"

[Mike]

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 left 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.

 

[Faster horses]

Gonna be interesting to see if this makes the MSM.

 

[Tam]

This is sick, they are bailed out with tax payer money then they do this. Who will be next to fall under the Obama liberal spell? Bank of America should be boycotted and every gun owner in America pull their money out and just see if they can survive by laundrying Obama foreign campaign funds. The US Military needs to clamp down on Obama's political influence before he destroys the US. :x

 

[hopalong]

I will be in the B of A on Monday closing my business account, as well as a personal account, have just fwd the notice to the Commander of my search and rescue team as well as several other members that are members of the squad.

 

[Faster horses]

Don't quote me on this, but we have a banker friend and he told
us over a year ago that Bank Of America is owned by Mexico
or someone in Mexico.

I never did like that bank or it's policies. I don't like Wells Fargo
either and it is foreign owned.

 

[hopalong]

I had an account with B of A because they financed my first plane and my second, I stayed with them but had a credit union account that financed my Beechcraft (((((((sorry kolo=jingo=lulu=allie)) no non existant Cessna for me :wink: Any way will transfer my B of A accounts to them and will trll them exactly why not that a couple hundred thou will give them any concern

 

[Red Barn Angus]

I have never had an account with B of A nor wanted one but the part about eliminating safeguards concerning illegal foreign contributions bothers me about as much as the gun situation. This pres will stop at nothing to break every law on the books and then will not show up in court when required. He is nothing but a dictator and nobody seems willing to stop him. We can only hope this loser loses big time and B of A can go down with him. The whole thing is just wrong.

 

[okfarmer]

Glad this news came out now. I was about to make a mistake and finance a new business through them.