Bank of America tells gun manufacturer it no longer wants their business?

posted at 10:26 pm on April 20, 2012 by Allahpundit

I’m thinking there has to be more to this story, not because I doubt that there are lefty corporate execs who find guns and gun owners loathsome but because from a business standpoint this is the highest of high insanity. My strong suspicion from years of following news on the right is that gun enthusiasts are the single most passionate interest group in conservative America. The barest whiff of some form of new regulation becomes an instant sensation online. If I ran a business they’d be the very last lobby I’d want to cross, just because they’re ready, willing, and able to organize a mighty effective boycott. Surely BOA, a company that’s headquartered in a southern city, knows the shinolastorm they’d be inviting if they pulled something like this.

And yet, here we are.

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 5 minutes talking about how McMillan has changed in the last 5 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.”

“That is correct” he says…

“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 let for him to say.

Any reason to think that BOA really might make a politically motivated decision to cut ties with gun businesses? Well, maybe. Read Bob Owens’s post at PJM for lots of interesting background on McMillan and BOA:

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.

In 2010, Bank of America attempted a similar action, and was again forced to “clarify” their position…

The boss emeritus devoted a column in January to BOA’s longstanding relationship with the Democrats:

During the 2010 midterm elections, former DNC chairman and ex-Virginia Gov. Tim Kaine secured a $15 million revolving line of credit at BofA and then finagled another $17 million loan from the taxpayer-bailed-out bank. According to Federal Election Commission records, BofA accepted as collateral the DNC’s donor mailing list. Yep, its donor mailing list for $32 million in loans. As investigative reporter Richard Pollock asked at the time: “What message does a largely unsecured $32 million credit line for the Democratic Party send to thousands of cash-starved small businesses across the nation who can’t secure any credit even with tangible assets?”…

Bank of America is to sweetheart loans and Democratic Party payoffs as Paula Deen is to sugar and bacon grease:

– The massively troubled bank raked in a middle-of-the-night, taxpayer-funded $45 billion banking bailout in 2008 and an estimated $931 billion in secret federal emergency loans.

– In 2008, BofA’s political action committee gave its biggest contributions to Barack Obama totaling $421,000.

Long story short: If the Democratic leadership needed a favor from BOA, the bank might be in a position where it felt obliged to comply even at the risk of some sort of political backlash on the right. And it’s true that BOA will have a major presence at the convention this year — as noted above, it’s being held in a stadium sponsored by the bank, in the city where BOA is headquartered — so in theory, there may be some pressure to divest from businesses that aren’t simpatico with the Democratic message. But to believe that is to ignore electoral reality. There’s a reason Obama, Pelosi, and Reid never went hard after guns when they had the numbers in Congress: It’s a potentially lethal issue for them in swing states like Pennsylvania and Ohio, where there are blue-collar gun owners who are willing to vote Democratic for economic reasons so long as they have no more important reason not to. If you think I’m exaggerating, go read this recent op-ed by Ohio’s Democratic former governor, Ted Strickland, attacking Romney on guns from the right. The last thing they’d want before the election, when they’re trying to pick off working-class whites in rural areas from Romney, is to throw a gun-grab scare into them. I think it’s more likely, actually, that BOA will get an angry call from a top Democrat telling them to knock this off than it is that they’ve gotten a call telling them to cut ties with gun owners. And no, there surely isn’t any pressure from the lefty base squeezing Democrats on this. They looked the other way while Obama tore up the War Powers Act in order to go to war in Libya. If they’re willing to tolerate that, do you really think they care who BOA does business with?

Exit question: What’s really going on here, then? Does someone in BOA management hate gun manufacturers so much that they’re willing to invite a boycott over it?


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Comment pages: 1 2

“BofA does hold my emergency funds so I need to put them somewhere safe”

I suggest a fire proof lock box in the back of your Rottweilers crate. :)

sablegsd on April 21, 2012 at 1:55 AM

Bank of Amerika.

BuckeyeSam on April 21, 2012 at 1:58 AM

Banks and credit card processing companies have long been hostile to gun vendors. The credit card processors in particular have cut off firearms vendors.

It’s not really “political” in the sense of doing the bidding of particular politicians or parties. It’s a sort of generalized reluctance on the part of the banks to do business with an industry they regard as icky.

blofeld42 on April 21, 2012 at 2:12 AM

Romney supported the taxpayer funded bailouts of Bank of America.

astonerii on April 20, 2012 at 10:37 PM

Romney (and I) supported TARP as they were sold to Congress at the time, not how they were implemented in practice. Bush used half the money to stop the bleeding and handed the other half to Obama. Obama blew it.

crosspatch on April 21, 2012 at 2:24 AM

Exit question: What’s really going on here, then? Does someone in BOA management hate gun manufacturers so much that they’re willing to invite a boycott over it?

Shades of Fast and Furious! Could it be another attack against our 2nd. Amendment rights?

You betcha!

What does Romney think:

On July 1, 2004, Romney signed a permanent state ban on assault weapons, saying at the signing ceremony for the new law, “Deadly assault weapons have no place in Massachusetts. [snip] The same law also modified some other aspects of general firearms licensing regulations.[92]

Liberals of a feather …

DannoJyd on April 21, 2012 at 2:26 AM

Sketchy flip flops again … once caught in his lie!

Mitt Romney.
In New Hampshire, he was asked his view on the Second Amendment. He responded that he had been a hunter “pretty much all my life.” Later, red-faced aides of Romney had to admit that Romney had never had a hunting license, and under further questioning, Romney acknowledged that his “lifetime of hunting” was having shot at some birds during a Republican governors meeting during a fund-raising event and maybe shooting at “small varmints” when he was seventeen with his cousin.

Romney 2012: the ‘republican’ you can ‘trust’. /s

DannoJyd on April 21, 2012 at 2:32 AM

Better exit question, does anybody know of a bank I can switch to that has a better attitude towards human rights?

{^_^}

herself on April 21, 2012 at 4:44 AM

Exit question: What’s really going on here, then? Does someone in BOA management hate gun manufacturers so much that they’re willing to invite a boycott over it?

It means that in free markets, companies are not profit-maximizers as theory dictates, but follow the dictates of whomever runs them, and that such people are capable of having preferences that put politics ahead of profit.

Duh.

…It also means that economic theory is a ridiculous generalization that has little in the way of application to reality.

Stoic Patriot on April 21, 2012 at 6:34 AM

I own a firearms accessory business and it is very difficult to find financial and web services that will accept our business. It’s such a routine problem that I mention my line of work early in discussions.

Coincidentally, I was just looking for a different payment gateway for my website. The vast majority of gateways would not accept our business,as a matter of specific policy. I was bemused to discover that nothing in their policies would prevent them from working with abortion clinics.

My worst experience was with PayPal. I had applied to PayPal Merchant Services to provide my company’s credit card processing. In response to my application, they froze my and my wife’s personal PayPal accounts for violations of “Terms of Service”. When I pointed out that applying to the service doesn’t violate the Terms of Service, I was given a chance to appeal. The appeal process was me being put on hold for 30 seconds before the customer service person responded back that my appeal had been denied. PayPal froze funds related to used skiing gear that I had sold. I and my wife still can’t use PayPal.

My libertarian side says let them run their business as they see want and we gun-folks will take our business elsewhere. Kudos to McMillan for bringing the issue to light.

mbrendzel on April 21, 2012 at 6:48 AM

I’m not surprised in the least. It became apparent that the crooks were (are) running that bank.
My entire family, as well as our businesses, left their bank two years ago and never looked back.

Of course our decision to leave them were over them trying to screw us over. It was like they were working directly with the Obama regime.

Lets take a look at a few of their more public policies:
~ Issuing credit to illegals without a SS number.
~ Gouging their customers with high ATM charges, which they backed off on, then embed mystery fees for other services. Doesn’t seem smart especially when the return on their customer’s hard earned Cash is at an all time low low during an ongoing recession.
~ Now Anti Gun (I wonder if they’ll stop doing business with budding pot shops out west?).

kregg on April 21, 2012 at 7:01 AM

You cannot make them fail. Taxpayers have their back. They do not need customers when they have the fed giving them .01% loans that they then buy treasuries paying far more with and have unlimited borrowing power with. It is like a perpetual money machine.

astonerii on April 20, 2012 at 10:41 PM

“Perpetual” until China quits buying our worthless paper.

Who is John Galt on April 21, 2012 at 7:14 AM

My entire family, as well as our businesses, left their bank two years ago and never looked back.

kregg on April 21, 2012 at 7:01 AM

Me too. I left over their issuing credit to illegals. If I hadn’t, I would leave now over distrusting BoA with my personal info.

petefrt on April 21, 2012 at 7:16 AM

Romney 2012: the ‘republican’ you can ‘trust’. /s

DannoJyd on April 21, 2012 at 2:32 AM

Dude, er Troll, get over it. /s

Non-Zero is our Hero. Pay cash for your ammo so BOA can’t make you DOA.

Who is John Galt on April 21, 2012 at 7:16 AM

Hmm… I have a BOA card.
I wonder which one would hurt them most. Me keep it and keep paying them off in full every month like I always have, or boycotting them.

Anyone know if what the merchant fee that they DO get would cover the interest that they DON’T get from me for the average $600-1500 free ‘cash advances’ they give me each month?

LegendHasIt on April 21, 2012 at 1:22 AM

“Acting on principle” by closing your accounts would benefit
your psyche the most.

Amjean on April 21, 2012 at 7:43 AM

You cannot make them fail. Taxpayers have their back. They do not need customers when they have the fed giving them .01% loans that they then buy treasuries paying far more with and have unlimited borrowing power with. It is like a perpetual money machine.
astonerii on April 20, 2012 at 10:41 PM

“Perpetual” until China quits buying our worthless paper.
Who is John Galt on April 21, 2012 at 7:14 AM

China quit buying long-term T-Bills over two years ago.

logis on April 21, 2012 at 7:50 AM

BOA – Earning your business.
-
* Tried to cash a travelers check at the largest BOA branch in Seattle. I had 3 forms of photo ID including my passport. BOA wouldn’t cash the check. A small restaurant nearby did it without hesitation.
* My kid needed something notarized at a BOA branch where she had an account. They wouldn’t do it. “They didn’t want to accept the liability”. (huh?) We had it notarized elsewhere – no problem.
* My Visa card uses BOA. My local BOA branch accepted my check for a $3,000 credit card bill but wouldn’t cash a $10 rebate check.
-

diogenes on April 21, 2012 at 7:59 AM

This is anti free market Fascism. Fast and Furious anti gun movement has begun. This is the politics of CONTROL.

lilium479 on April 21, 2012 at 8:11 AM

Bank of America always seems to be anti-American. Weren’t they giving free accounts to illegals at one point? Something like that.

Maybe better name would be Bank of Amerika.

JellyToast on April 21, 2012 at 8:17 AM

Maybe he’s promised them they can be the only bank left standing by the end of his second 20 year term.

JellyToast on April 21, 2012 at 8:18 AM

Oh this one will be great to see play out. Just forwarded this to my hunting and fishing friends on Facebook.

I also just sent an email to BoA and let them know I will be sure not to do any business with them. I recommend you do so as well.

Obama is calling in his favors, folks. He wants this re-election by any means necessary….

GadsdenRattlers on April 21, 2012 at 8:26 AM

I have a Bank of America account and a Merrill Lynch Account. Next week I am moving everything other entities. Both Merrill and BOA have been hard to deal with for the last couple of years.

SC.Charlie on April 21, 2012 at 8:29 AM

I got rid of all my relations with BoA last month when I fought a “battle” with them over getting Insurance money check signed to finish repairs of damaged home from a year ago. Their mortgage dept is pathetic in my opinion, and the customer service was ranked as worst in nation of large companies. Check out the complaints about the mortgage claims and their fights with not getting monies to customers for repairs of homes damaged. They are ruthless.

texriot on April 21, 2012 at 8:39 AM

What happend to corperations making busniess decisions on their own?

Oh yeah does not meet political agenda. Keep forgetting that.

damian1967 on April 21, 2012 at 8:45 AM

Bank of America sucks. They pander to illegal aliens, and have lousy customer service. They should call themselves the Bank of anti-America. No wonder they’re so in love with Baraka Obama and his anti-American world view.

AZCoyote on April 21, 2012 at 8:46 AM

So the directors of Bank of America have decided to dump a customer during a major recession that does business in one of the few areas of our economy that has enjoyed a significant increase in business since 0bama was elected?

Since I refused to business with BoA years ago, I cannot participate in a boycott of them now – but I’ll sure be looking at companies that do business with them, and let those business know that they have lost my business because of their association with BoA.

Put that in you gun and shoot it!

jackal40 on April 21, 2012 at 8:47 AM

My 12 year business relationship with BOA ended when a local branch manager refused to let me withdraw a $50,000 wire transfer from a client in New Zealand because he “did’t like my signature” but now I’m thinking it was because when he asked for extra picture identification I produced my Licensed Carry Permit! To top it all off even though the teller told him I was in there a couple times a week making deposits he told me “get out of my bank.” I told hi I was leaving but my money was leaving with me. I did and it did and it resides along with our other two businesses in another more friendly bank.

Art on April 21, 2012 at 8:54 AM

Art on April 21, 2012 at 8:54 AM

So they were safe keeping your money and questioned your signature, as they should to safe keep your money.

And you got angry about it.

Too funny.

I have all my accounts at Bank Of America, and there they will stay! Great Bank, treats me like a king.

I for one do not boycott a Corporation for making decisions in a free country.

Thought thats how the right liked it anyways, guess not when it comes to their political agendas.

damian1967 on April 21, 2012 at 8:58 AM

Yet another reason that I’m glad that I cut any ties to B.O.A. ten years ago.
Local credit unions or locally owned small banks are the only way to go these says. They haven’t forgotten that we are customers first and foremost. Bad customer service yields loss of customers.

TexasEngineer on April 21, 2012 at 9:07 AM

the only way to go these says days.

sorry…on my wife’s laptop and the keyboard is mocking me.

TexasEngineer on April 21, 2012 at 9:08 AM

DannoJyd on April 21, 2012 at 2:32 AM

Obama called, he want’s his socks back…

ray on April 21, 2012 at 9:10 AM

damian1967 on April 21, 2012 at 8:58 AM

Of course it is, you love corruption and screwing the little people over, it’s why you vote for corruptocrats.

ray on April 21, 2012 at 9:12 AM

I share no common experience with garbage such as Bank of (Not my Country you aren’t)

MNHawk on April 21, 2012 at 9:15 AM

I have all my accounts at Bank Of America, and there they will stay! Great Bank, treats me like a king.

damian1967 on April 21, 2012 at 8:58 AM

You certainly look dumb enough to put all your money into a bank who was recently bankrupt.

Chump.

MNHawk on April 21, 2012 at 9:18 AM

Thought thats how the right liked it anyways, guess not when it comes to their political agendas.

damian1967 on April 21, 2012 at 8:58 AM

Your loverboy POTUS eats dogs for breakfast. Damn troll!

We’re talking discrimination against businesses that provide a legal service that enables Americans to exercise their Second Amendment rights.

Gladtobehere on April 21, 2012 at 9:22 AM

Bank of America is a awful bank. I had to deal with them on my Grandmother’s behalf and it was a nightmare. Just doing basic stuff like depositing money into her account was a struggle. They are the rudest and most inept bank I have ever seen in my life. They went out of their way to frighten her at every chance (she had over $100,000 with them). Thankfully she decided to get a new bank, which turned into another struggle with BOA.

I have never heard any good experiences with them. Remember these are the same folks who tried to foreclose on a house that did not even have a mortgage with BOA, in fact the house had no mortgage at all!

McMillan will be better off in the long to get away from that sinking ship.I hope the U.S. government, and that includes Republicans, don’t bail them out when they finally do go south….

William Eaton on April 21, 2012 at 9:25 AM

Damien 1967 there was more to it than that. Three picture ID’s and positive identification by several tellers didn’t deter this guy because he was new at the branch and didn’t know me personally. What he should have done was to ask for me to “help him” through the process and not be belligerant. BOA does not have any “people skills” test for branch managers to pass I guess. When he said my signature didn’t look like the original I said I didn’t look like I did 12 years earlier either. A call to the Charlotte office was made and we got our money from there but the experience left me less than enthusiastic about BOA. Perhaps the Permit to Carry a Concelaed Weapon had an effect or not but its an interesting discussion. Perhaps because the guy was barely 5 feet tall had something to do with his attempt at projecting authority. Whatever the case it was bad business and they lost our business.

Art on April 21, 2012 at 9:30 AM

Thought thats how the right liked it anyways, guess not when it comes to their political agendas.

damian1967 on April 21, 2012 at 8:58 AM

Dam… have you noticed how lonely it is getting for trolls around here lately?

Yoop on April 21, 2012 at 9:41 AM

Just so I have this straight: Doing business with a legitimate American company is out. Giving home loans and credit cards to criminal aliens is OK. Got it.

Russ in OR on April 21, 2012 at 9:43 AM

I stopped banking there years ago and haven’t regretted it one bit.

Metro on April 21, 2012 at 9:49 AM

The last thing they’d want before the election, when they’re trying to pick off working-class whites in rural areas from Romney, is to throw a gun-grab scare into them.

AP – you’re looking at this wrong.

If you can’t sue the manufacturers for someone else actions…

if you can’t blame the volume for the Mexican drug wars…

if the EPA can’t make lead in bullets illegal…

if cities cannot outlaw them without having a Court declare it unconstitutional…

If poll after pool shows the population has no problems with gun ownership…

…then all you’re left with is to kill the money that a company needs to stay in business.

Barry may not be behind this, but you sure as hell know Holder is fully aware. It’s his pet cause.

budfox on April 21, 2012 at 9:51 AM

What is the old saying?

I think I’ll open an account with Bank of America just so I can close it in disgust!

Oddly, I have our mortgage with them and had just gotten off the phone with a re-finance manager when I read the story on HA. I emailed him a link to the story and told him that we cannot proceed with the refinance if BofA treats its customers this way. You have to take a stand, no matter how silly or senseless it may appear. It does matter.

diogee on April 21, 2012 at 9:54 AM

I cancelled all business with BOA back in 2008. They should have been allowed to go bankrupt.

JeffPBlues on April 21, 2012 at 9:55 AM

I’m sure that there are other banks that are happy with this news and giving them the opportunity to enjoy the business they will get from the true Americans.

mixplix on April 21, 2012 at 10:18 AM

“the highest of high insanity”

Describes BofA perfectly. We had all of our accounts closed with them in 2011 and I’ll never look back. We do still have one cc with them that we pay off each month.
They should have been allowed to go bankrupt and I honestly wait for a day they fail.

ORconservative on April 21, 2012 at 10:24 AM

Exit question: What’s really going on here, then? Does someone in BOA management hate gun manufacturers so much that they’re willing to invite a boycott over it?

Since barry and the nasties he has surrounding him in dc obviously respect the Constitution and do things as intended by our Founders and nearly 250 years of precedent it couldn’t really be that they are trying to implement thier agenda any way they can?

Hey all you “It Can’t Happen Here”ers, it is happening here. This is what fascism looks like and authoritarianism is right down the road. Better get armed and supplied now because that door may close soon.

peacenprosperity on April 21, 2012 at 10:27 AM

We’ve been wanting to move our BOA account to a credit union any way. Now will be a good time to do it. I will be sure to tell them why as well.

ronsfi on April 21, 2012 at 10:33 AM

We left BofA in summer 2009 like many others. They were smug about it. “Why are you leaving us?” I told them flat out. They smugly smiled, like it was OK because they didn’t want my “type” at their institution. Our local credit union rocks – fast, friendly, cheap. Not as convienient, but worth it.

hazchic on April 21, 2012 at 10:59 AM

angryed on April 21, 2012 at 12:13 AM
Me too, and I am having problems getting my husband to agree to the change. He thinks I am a political nut (I have already boycotted Kraft foods for myself mostly). I need an angle. THe gun one isn’t enough.

Can anyone recommend a bank with a great bill pay website?

earlgrey133 on April 21, 2012 at 12:16 AM

I’m using Wells Fargo these days. They’re ok, I guess. However, I do know an excellent divorce attorney.

di butler on April 21, 2012 at 11:06 AM

Many more sources needed for this.

Given the explosive growth of the firearms industry even during the Obama Recession, refusing to do business with firearms manufacturers would make ZERO sense for BOA from a business point of view.

It is very hard to believe that the board would sign off on not just removing a company but AN ENTIRE INDUSTRY VERTICAL from their corporate portfolio.

Sure they list heavily to port, but it’s still a business (albeit one that still has incredibly weak fundamentals, many shrouded in secret government lines and guarantees).

Not buying it on this flimsy a story, sorry.

CorporatePiggy on April 21, 2012 at 11:08 AM

This is pretty much is how fascism works. I have never done business with the Bank of Amigo, and I never will.

rjh on April 21, 2012 at 11:37 AM

Don’t be a dumbass. Because of a deluge of accounts defaulting and costing credit card companies money, they are passing off the cost to the remaining customers. I had a CC with BOA and was never late on making payments. For absolutely no fault of my doing, they raised my interest rate from 7.99% to 15.99%. Amex did the same.

Too bad you’re not sitting next to me. I’d hand you a nickel so you could go buy a clue.

fullogas on April 21, 2012 at 1:54 AM

So it was a business decision BOA made to recoup money they were losing, If you think it’s unfair you shouldn’t have agreed to interest rate increases at their discretion when you signed up. If you don’t like it don’t do business with them. Grow up.

rjl1999 on April 21, 2012 at 12:09 PM

They looked the other way while Obama tore up the War Powers Act in order to go to war in Libya. If they’re willing to tolerate that, do you really think they care who BOA does business with?

Yes, but…what Obama does and what BOA does are two extremely different things. The Dems have to look the other way for Obama. As for BOA, the Dems can distance themselves from BOA and say they don’t necessarily completely agree but it is BOA’s decision. The Dems can’t afford to lose their gun control/anti-gun base either. So yeah, they will not go after BOA on this and will ignore it as much as possible. There’s lots of room under that bus.

Deanna on April 21, 2012 at 12:09 PM

Exit answer: “We reserve the right to refuse service to anyone” is an axiom of Conservatism, and there’s always another bank down the street.

BUT, replace ‘gun manufacturer’ with ‘homosexual’, or ‘Muslim’ and you can see clearly where this refuse service concept breaks down – except when it pertains to violations of public safety or banking regulations.

Plessy v. Ferguson was long ago struck down. The Civil Rights was made law in 1964. These dealt specifically with race, creed, and ethnicity, etc., but that concept of equal access and treatment has been interwoven in the fabric of precedence for several generations.

It seems to me it’s Liberals who seek first to launch into spittle flecked tirades over discrimination and demand a government solution, so it seems odd for a BIG BANKER type who’s cozy with Liberals to speak openly about discrimination against a particular customer at a public business.

What do banking regulations have to say about refusing service outside of the obvious violations of public safety or sound banking principles?

locomotivebreath1901 on April 21, 2012 at 12:11 PM

It was BoA that foreclosed on a house in Florida. The owners had paid cash for the house, and had never had a mortgage on it. Owners proved in their case in court, and BoA was ordered to pay all of the owners legal fees. BoA stalled, and ultimately refused to pay. So the owners contacted the local sheriff, provided the necessary documentation, and foreclosed on the BoA branch. Sheriff came in, padlocked the front door, and started removing computers, etc from the branch. BoA then promptly payed what they owed.

That is the mentality of that group, it is their corporate culture.

http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowner-Forecloses-On-Bank-Of-America

iurockhead on April 21, 2012 at 12:16 PM

It may not mean much, but maybe it’s time for me to find a new bank. I’ve been ticked off at B of A for a while now. This may be the last straw. Perhaps it better to bank locally, at a smaller institution.

JetBoy on April 21, 2012 at 12:36 PM

We conservatives don’t use our economic power the way liberals do! We need to know about liberal companies and vote with our wallets. My partner is willing to create a site that would list liberal companies – and why we conservatives should avoid them. Likewise, we can know about conservative companies and spend our dollars there. He doesn’t want to spend the time and money to build this site unless there is reasonably strong interest.

Any opinions from other Hot Air users?

Samantha on April 21, 2012 at 12:36 PM

In the 1940′s schools in CA had “Bank Day”. We could bring in whatever funds we could spare and deposit them in an account set up for each kid. Did not matter is it was just a few penny’s, BOA did not have a minimum amount. What a downfall from then to now.

oldbearak on April 21, 2012 at 1:19 PM

JetBoy on April 21, 2012 at 12:36 PM

Yeah, I’ve got a Bank of America card on account of wanting Alaska Airline miles. But now I’m thinking maybe I should switch to an Amazon card.

Hrm.

Kind of makes me want to just call them and see if I can get a response about this story.

apollyonbob on April 21, 2012 at 2:19 PM

I’ve been gone for some months and it’s good to be back. Let’s boycott BOA. We should get email addresses of some of their executives.

toliver on April 21, 2012 at 2:31 PM

Exit question: What’s really going on here, then? Does someone in BOA management hate gun manufacturers so much that they’re willing to invite a boycott over it?

This is less about BofA than it is about the FDIC. Since 2009, the FDIC has become increasingly out-of-control. Federal regulators use the FDIC as a weapon against “disfavored” businesses and individuals. This includes encroachment on other regulatory bodies.

Under the guise of monitoring an institution’s “Risk Profile,” the regulators identify “disfavored” or simply “high risk” clients and force the bank to terminate the banking relationship.

The actions are NEVER put into writing. Usually the directives are delivered over the phone (any whiff of the call being recorded and it is terminated immediately). Nearly any business move contemplated by the bank requires regulatory approval (from the small; opening or closing a branch office; to the large, accessing Fed Funds). Failure to comply with these “Risk Mitigation Directives” can stall all sorts of business operations.

Further, there is no avenue for appeal or oversight. A business associate who ran into one of these directives had his children’s and sisters banking relationships terminated as well.

Fighting these directives are pointless and the business would rather comply than deal with the grief that can be wrought by the regulatory bodies. It is a VERY ugly situation.

Moose Dung on April 21, 2012 at 3:04 PM

Never used BofA, never will.

JennM111 on April 21, 2012 at 3:04 PM

Non-Zero is our Hero.

Who is John Galt on April 21, 2012 at 7:16 AM

Non-Zero? Do you mean Abortions R Us Mitt, aka. Sketchy, aka. the white alternative to 0bama, aka. the GOP liberal, aka. the GOP’s flip flopper of 2012?

I merely with to be clear as I am interested to see why people are becoming adoring fans of this socialist in much the same manner as people became enraptured with their black messiah.

I’m still waiting for anyone to give me a better reason to vote for the architect of 0bamacare other than him not being 0bama.

DannoJyd on April 21, 2012 at 3:26 PM

This is less about BofA than it is about the FDIC. Since 2009, the FDIC has become increasingly out-of-control. Federal regulators use the FDIC as a weapon against “disfavored” businesses and individuals. This includes encroachment on other regulatory bodies.

Under the guise of monitoring an institution’s “Risk Profile,” the regulators identify “disfavored” or simply “high risk” clients and force the bank to terminate the banking relationship.

The actions are NEVER put into writing. Usually the directives are delivered over the phone (any whiff of the call being recorded and it is terminated immediately). Nearly any business move contemplated by the bank requires regulatory approval (from the small; opening or closing a branch office; to the large, accessing Fed Funds). Failure to comply with these “Risk Mitigation Directives” can stall all sorts of business operations.

Further, there is no avenue for appeal or oversight. A business associate who ran into one of these directives had his children’s and sisters banking relationships terminated as well.

Fighting these directives are pointless and the business would rather comply than deal with the grief that can be wrought by the regulatory bodies. It is a VERY ugly situation.

Moose Dung on April 21, 2012 at 3:04 PM

That is frightening.

toliver on April 21, 2012 at 3:39 PM

Here are what i hope to be good email addresses:

http://www.loansafe.org/forum/bank-america-home-loans/31914-bank-america-mailing-address-contact-info-emails.html

I tried pasting the list here but it didn’t take.

toliver on April 21, 2012 at 3:48 PM

I closed my account when they began issuing credit cards to illegal aliens, the left has all kinds of boycotts, another business i have crossed of my list is Walgreens. Why finance your enemies?

dunce on April 21, 2012 at 4:14 PM

I just bought a new car. Despite the rather sizable down-payment on it (plus I opted for the rebate which I applied to the principle cost), I had to finance the balance. I went with BofA to finance the balance since the interest rate they offered me was the lowest offer made. They beat my credit union by .3% so I went with BofA. I had some slight misgivings, at first, about using BofA to finance but the APR was just too dang sweet. Well, now my misgivings are solidly in the ‘SCREW YOU BofA’ column.

After I already bought the car my credit union recontacted me and offered to ‘match’ BofA’s APR. I declined since everything was already done and I didn’t want to go through the hassle just for a matching APR. It was too late and while I fully support my credit union they wouldn’t go less. Then they called me one last time and said they’d match the APR and waive all rewrite fee’s and whatnot. I still declined but they said they would hold the offer open until the end of April.

BAM! It’s 6 more business days left until April 30th. I’m going to my credit union first thing Monday morning and dumping BofA’s financing. It will be more than worth the hassle to dump those lecherous scum and refinance with the same APR and waived fee’s. I’m sworn off BofA for life now.

FlatFoot on April 21, 2012 at 4:54 PM

Samantha on April 21, 2012 at 12:36 PM

Heck yeah, there would be a lot of interest. I’ve already sworn off of movie theaters, GM cars (which were always our automaker), MSM TV, most TV in general. Won’t use Progressive insurance or GEICO, and am ready to forego Coca-Cola, which makes me very, very sad.

Get going on it and let’s see what happens.

Qzsusy on April 21, 2012 at 5:18 PM

We conservatives don’t use our economic power the way liberals do! We need to know about liberal companies and vote with our wallets. My partner is willing to create a site that would list liberal companies – and why we conservatives should avoid them. Likewise, we can know about conservative companies and spend our dollars there. He doesn’t want to spend the time and money to build this site unless there is reasonably strong interest.

Any opinions from other Hot Air users?

Samantha on April 21, 2012 at 12:36 PM

If you build it, they will come.

trigon on April 21, 2012 at 6:16 PM

There is more to this story than meets the eye. Dems on the lower level have been hassling ranges under State Environmental laws and noise regulation laws as part of an overall strategy to get rid of the public’s guns.

Opportunity: An 85 year old range in my Area (Kitsap Rifle and Revolver club) got the axe, being forced to “temporarily” (6 months so far) suspend shooting till a higher level judge can remove the restriction due to “noise regulations”. Several other have been hit with expensive range modification requirements.

Political: The Justice Department is caught selling guns in bulk and illegally to intermediaries of Drug Armies in Mexico to set up the idea of “American gun trafficking” in a move against American Gun Manufactures and Stores.

Social: Travyon incident is an attack by a teen thug on a block watch captain, but astonishingly the focus of the News Media and Democrats is on “Stand your ground laws” and the right of Self Defense. This after over two hundred mass attacks against Whites in 2011 as documented in the book “White girl Bleeds A Lot”.

Expense: The EPA makes a move against lead in ammo with the intention of a total ban, while Homeland Security purchases 450 million rounds of lead jacketed 40 S&W and more in .223. The cost of ammo soars.

All these and many more examples are “Under the radar” moves to hinder the sport of shooting, to harm the gun manufactures who make guns, to hinder the ability to go to a range to shoot, to drive up the cost of shooting, to intimidate those who carry for defense and finally a direct economic attack on shooters. This in the face of an increasing threat of riots by blacks.

Once is Coincidence, twice is happenstance, three times is Enemy Action.

Bulletchaser on April 21, 2012 at 7:14 PM

I worked for a company whose founder was a BOA board member. Let’s just say this particular person has no shame whatsoever.

SouthernGent on April 21, 2012 at 8:40 PM

I have a BofA Mastercard that I use for everything because of the the cash back(1%). I never pay them interest and I only collect my points when they give me an extra 25% cash, 300 points = 375 bucks. I’ve been doing it for years. I always feel like I’m sticking it to them. Question for some one in the know: Am I making them lose money or by using the card are they earning fees and such from vendors that makes them come out ahead in the long run?

ernie on April 21, 2012 at 11:32 PM

Atlas shrugged.

jdmccomb on April 22, 2012 at 5:12 AM

Might I suggest their security company start sending unarmed guards to their locations telling BOA that, if they’re so upset about guns, perhaps they shouldn’t have any near them.

bflat879 on April 22, 2012 at 10:01 AM

While I am sure some on the left side of the political spectrum applaud BofA’s policy, which ties into their own political goals, actions like this are indeed a double edged sword.

The Constitution is not an ala carte menu. All rights enumerated in the Bill of Rights carry the same weight. No one right is superior to another, being endowed by our creator.

So if a government contractor (by virtue of FDIC insurance), which has received billions in taxpayer dollars due to mismanagement,can impose significant barriers to the exercise of any one of those freedoms, what is stopping actions involving freedoms of speech, voting, religion, etc.?

Would there not be public outrage if BofA adopted a policy of not allowing those of the Islamic faithaccess to their banking services? Or refusing to bank with those who had voted for a Democratic President? Or someone who has involved their Fifth Amendment Rights against self incrimination?

BofA has taken foothold on a very slippery slope. When politics of thos nature drive business policy, it creates a very dangerous precedent and aids and abets the erosion of our Constitutional Rights.

Jim M. on April 22, 2012 at 1:46 PM

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.

This is legal? Yeah, I know he did it the first go-around. And, yeah, I know he’s done mucho other things … sorry, strike the question.

BTW, I’d close my BOA account, except that I DON’T HAVE ONE! Refused to do business with that bank since I found out how they dealt with illegals.

IrishEyes on April 22, 2012 at 4:32 PM

For all the folks who think obama hasn’t or won’t do anything in terms of gun control, well looky here, that skinny bast**ds hands are all over this. Thats how deep he can get in the subtle ways of destroying the second amendment. Conservatives better be awake on Nov 6, this is going to get really uggggly.

doublee on April 22, 2012 at 7:06 PM

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