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

Me thinks this will ummmm, bite them in the assets…

SWalker on April 20, 2012 at 10:28 PM

First!

This post will not come back to haunt me.

Oh wait….

This wasn’t QOTD…

Darn…

I am haunted..

Electrongod on April 20, 2012 at 10:28 PM

Darn, I already refuse to bank with BofA.

cozmo on April 20, 2012 at 10:28 PM

Darn, I already refuse to bank with BofA.

cozmo on April 20, 2012 at 10:28 PM

You and me both..

Electrongod on April 20, 2012 at 10:30 PM

Me thinks this will ummmm, bite them in the assets…

SWalker on April 20, 2012 at 10:28 PM

With apologies to Bishop cause I obviously don’t know my proper place in life…

SWalker on April 20, 2012 at 10:30 PM

Bank of America, should have failed.

Bmore on April 20, 2012 at 10:30 PM

If you can’t ban guns via the courts, wouldn’t restricting their ability to make guns and sell them be the second line of attack?

Kaptain Amerika on April 20, 2012 at 10:32 PM

I bet gun owners also are BofA stock holders.

kurtzz3 on April 20, 2012 at 10:33 PM

I have business and personal accounts at BoA because it allows clients to make deposits right into my account all over the U.S. rest assured they will be getting a volley of correspondence from yours truly in a variety of mediums.

Kaptain Amerika on April 20, 2012 at 10:33 PM

Slush fund. We don’t need to follow the business model of the past. Winning The Future!

Bmore on April 20, 2012 at 10:34 PM

NO ONE should bank with Bank of America. Anyone who values their freedom and being appreciated as a customer should take ALL of their business elsewhere and let B of A collapse once and for all.

clayj on April 20, 2012 at 10:34 PM

If you can’t ban guns via the courts, wouldn’t restricting their ability to make guns and sell them be the second line of attack?

Kaptain Amerika on April 20, 2012 at 10:32 PM

They can try….

A novice machinist in a shop can make a gun….or two…

Selling….that is easy…

Electrongod on April 20, 2012 at 10:35 PM

They have a date with OWS and they’re nervous.

bernverdnardo1 on April 20, 2012 at 10:37 PM

Romney supported the taxpayer funded bailouts of Bank of America.

astonerii on April 20, 2012 at 10:37 PM

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?

I don’t think BOA execs have any control over the day to day operations of that bank anymore.
It is the Occupoopers who control that bank and they know what Hussein the Tyrant wants.
Fast and Furious didn’t work out too well for him, this is just plan-b.

burrata on April 20, 2012 at 10:37 PM

I do dislike that my mortgage loan was sold to BoA, so I make payments to them now. :\

Jeddite on April 20, 2012 at 10:38 PM

They will never again get my business. Encouraging everyone I know to boycott BOA. F them! I saw this posted today at 68Forums.com and immediately reposted to FB and anywhere else I could. Deny them your business. Getting private businesses to social engineer now? What’s next?

Doomsday on April 20, 2012 at 10:38 PM

Romney supported the taxpayer funded bailouts of Bank of America.

astonerii on April 20, 2012 at 10:37 PM

Thanks for the history lesson..

Obama is on record wanting to bankrupt the coal industry…
And killing babies….
And putting women on the streets….

Obama is Awesome.

Electrongod on April 20, 2012 at 10:39 PM

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

…and I read this where?
Land of the free?

KOOLAID2 on April 20, 2012 at 10:39 PM

Worst bank there is.

galtani on April 20, 2012 at 10:41 PM

Where’s Bonnie and Clyde when you need them?

ardenenoch on April 20, 2012 at 10:41 PM

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

Obama is Awesome.

Electrongod on April 20, 2012 at 10:39 PM

And don’t forget, 0bama was also for bailing out the banks.

Its a wash among the viable candidates.

cozmo on April 20, 2012 at 10:42 PM

Ah, now I have even more reason to close my only BOA credit card. Was going to do it anyway but now it’s my number one priority. And I’ll make sure I tell them exactly why.

jawkneemusic on April 20, 2012 at 10:44 PM

And don’t forget, 0bama was also for bailing out the banks.

Its a wash among the viable candidates.

cozmo on April 20, 2012 at 10:42 PM

Exactly…

Obama is on record for much more damage to this Country….

And has executed it….

Electrongod on April 20, 2012 at 10:45 PM

Start holding corporations that do the bidding for leftist causes accountable. Fight back. Do some damage. Stop this trend now.

anotherJoe on April 20, 2012 at 10:46 PM

I stopped using them back in the 70′s because they sucked back then, and still do.

xplodeit on April 20, 2012 at 10:47 PM

Part of my legal practice involves drafting NFA trusts. I encourage my clients to get a bank account. Guess what: it is BOA’s stated policy to refuse to handle any business relating to or involving firearms. Hence they will not allow my clients to open bank accounts for their trusts. That’s fine, PNC and M&T, among others, are favorably disposed to gun owners and have no such problem.

Speakeasy on April 20, 2012 at 10:47 PM

And I’m forced to cover their customers deposits up to $250,000 thru FDIC when they can make business decisions like this? We need to get rid of this FDIC bs. It can’t possibly be constitutional.

Buddahpundit on April 20, 2012 at 10:47 PM

The reason Bank of America had to take taxpayer money to bail them out was because they lent so much money to illegal aliens for mortgages, consumer loans, and revolving credit.

When illegals started abandoning their mortgages, BOA had to be bailed out by taxpayers.

I remember Michelle Malkin writing about BOA, before the 2008 collapse, advertising mortgage and non-mortgage loans to illegal aliens.

jaime on April 20, 2012 at 10:48 PM

I wonder how I can get a mortgage transferred to a different bank? I originally had it through Countrywide (because American National Bank put it there) before the whole collapse, and then BoA ended up with it.

What also irritates me is that I was a member of a local bank that Boatmen’s took over back in the 90′s, then Bank of America took over Boatmen’s, and then wouldn’t honor any of the old agreements. I promptly transferred to Wells Fargo and haven’t looked back.

cebj25 on April 20, 2012 at 10:49 PM

Worst bank there is.
galtani on April 20, 2012 at 10:41 PM

Indeed. These whackos raised my minimum payment on my credit card from $80 a month to $450 because they misapplied my payment causing it to show up late in their system. It sent my interest rate from around 6.5% to a whopping 29%. I told them they were kidding themselves if they thought I was going to cave and pay what they were demanding. It took months to get them to fix it and my credit.

jawkneemusic on April 20, 2012 at 10:51 PM

I closed the one account I had with BOA years ago.

d1carter on April 20, 2012 at 10:51 PM

Isn’t that sweet, the executives can feel good about themselves for their left wing purity.

I wonder how their personal political beliefs jibe with their fiduciary responsibility and how their stockholders feel about it.

obladioblada on April 20, 2012 at 10:51 PM

I am so leaving BofA.

elfman on April 20, 2012 at 10:52 PM

Why don’t they just rename themselves BOFO.

MontanaMmmm on April 20, 2012 at 10:54 PM

jawkneemusic on April 20, 2012 at 10:51 PM

They dropped my credit limit from $5,000 to $1,800.

Reason given……I didn’t use the card enough.

The real reason…..I paid off the balance every month and they weren’t making any interest off of me.

JPeterman on April 20, 2012 at 10:54 PM

I wish we were banking @ BoA just so we could close our account.
Bassmoles!
*We use a local bank-that allows CC permitted firearms in its branch buildings.

annoyinglittletwerp on April 20, 2012 at 10:59 PM

Brilliant idea. Stop doing business with the industry that has seen record sales for the last few years.

MadisonConservative on April 20, 2012 at 10:59 PM

Time to launch a #stopBOA twitter war and contact anyone who accepts their advertising that you will no longer listen to them/watch them?

Not like we can get a paid position with mediamatters to do it but still…

batterup on April 20, 2012 at 11:03 PM

Just how big is the firearms side of McMillan anyway? Aren’t they more known for their stocks? They are selling millions of .338 Lapua and .50 BMG bolt guns? To who, the Army? Police departments? They don’t stand out as a high volume, high profile firearms brand. Why would the Bank single them out? Weird.

Kenosha Kid on April 20, 2012 at 11:03 PM

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.

Seems like since BofA is processing Democrat illegal campaign donations with credit card verification turned off, it is the Democrats who owe BofA a favor.

Have one credit card with BofA since not everybody takes Discover. Guess it’s time to look into one of those NRA credit cards. We have a savings account for our son there as well. Probably time to move it someplace else.

AZfederalist on April 20, 2012 at 11:04 PM

*********************** NUTS ***********************************

canopfor on April 20, 2012 at 11:04 PM

I have business and personal accounts at BoA because it allows clients to make deposits right into my account all over the U.S. rest assured they will be getting a volley of correspondence from yours truly in a variety of mediums.

Kaptain Amerika on April 20, 2012 at 10:33 PM

As you continue banking with them, I’m sure they’ll give a rat’s ass.

Mitchell Heisman on April 20, 2012 at 11:05 PM

I’d bet a dollar to all the donuts Rosie O’Donnell could eat in 60 seconds, that Holder, Obama and certain democrats forced or bought BofA off to do this.

Liberals have no morals/values, so there is no way this guy is motivated by “values.” No conservative in their right mind would conduct business this way.

Extortion, quid-pro-quo. There’s more to this story.

BruthaMan on April 20, 2012 at 11:08 PM

The reason Bank of America had to take taxpayer money to bail them out was because they lent so much money to illegal aliens for mortgages, consumer loans, and revolving credit.

When illegals started abandoning their mortgages, BOA had to be bailed out by taxpayers.

I remember Michelle Malkin writing about BOA, before the 2008 collapse, advertising mortgage and non-mortgage loans to illegal aliens.

jaime on April 20, 2012 at 10:48 PM

BOA is still giving home loans and credit cards to illegals.
They have spanish speaking ” personal bankers” in their banks who tell illegals how to go delinquent and but hold on to the house/credit , while another loan is worked out under another ID , for the same person , and in the meanwhile JUST ON PAPER the house gets
” foreclosed ” on the old owners and ” resold” to the new owners, both being the same individual or his / her spouse/child .
Then they pass off these ” sales” figures to the Obama propaganda outfits which they spin into
” the housing market is showing signs of revival ”
The best part is this propaganda never goes national, it stays local and little by little, the the fools get fooled.

burrata on April 20, 2012 at 11:08 PM

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.

Too late, damage is done. McMillan has already hinted they may not accept BoA cards for payment and you can bet that McMillan will be forwarding this story on to every retailer and distributor of their products.

From other items I’ve seen about this, BoA apparently has had an anti-firearms policy since nearly 2000. This sounds like the McMillan account had flown under the radar for all that time and someone just noticed it. BoA was doing some housecleaning…

Ace ODale on April 20, 2012 at 11:10 PM

I do bank with BofAmerica. I don’t want to have to look for another bank, but I can’t sit by and let this happen. Is Wachovia any good or should I just go with a regional bank. I am not exactly rolling in it. BofA does hold my emergency funds so I need to put them somewhere safe.

earlgrey133 on April 20, 2012 at 11:13 PM

This is also the bank that promoted credit cards to illegal aliens.

James OK on April 20, 2012 at 11:18 PM

Just posted this link on several gun boards.

Let the fun and games begin!

GarandFan on April 20, 2012 at 11:19 PM

Um… lemme just say this…

BOA is the most um… screwed up organization in the USA. Bar none.

Insider info there. Trust me.

BOA would sell it’s momma for a nickle if they thought they could make a penny.

I’m not sayin’ nothin’… I’m just sayin’…

Akzed on April 20, 2012 at 11:20 PM

BOA -Barack Obama’s America

redridinghood on April 20, 2012 at 11:21 PM

So what happens when these “too big to fail” banks become one bank? That bank then gets to impose its politics on everyone?

AZfederalist on April 20, 2012 at 11:27 PM

Bank of Utopia

JB-STLMO on April 20, 2012 at 11:31 PM

They dropped my credit limit from $5,000 to $1,800.
Reason given……I didn’t use the card enough.
The real reason…..I paid off the balance every month and they weren’t making any interest off of me.
JPeterman on April 20, 2012 at 10:54 PM

Sounds like something they would do.

Worst.Bank.Ever.

jawkneemusic on April 20, 2012 at 11:32 PM

Romney supported the taxpayer funded bailouts of Bank of America.

astonerii on April 20, 2012 at 10:37 PM

Yeah, we know he sucks, but we have to drag him across the finish line, or be stuck with BO for another 4 years. We can beat that RINO stuff out of him later.

Alabama Infidel on April 20, 2012 at 11:32 PM

They need to change their name to Bank of Socialist and Communist Anti-Gun Idiots!

Raquel Pinkbullet on April 20, 2012 at 11:33 PM

I will be closing all my B.O.A. Accounts !!!! Remember before their Name Change they were… the Bank Of Italy !

Raquel Pinkbullet on April 20, 2012 at 11:35 PM

I hope this backfires on BofA in a big way.

Christien on April 20, 2012 at 11:41 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?

As Allah points out — B of A has a long lefty history. When I was in the mortgage business, they were the first national bank making mortgages to illegal aliens ( the so-called ITIN loan or I-10 loan…get it…nudge-nudge-Bob’s-your-uncle?). It became all the rage.

Pull your money out and don’t go back. Bank of America is owned by the DNC.

Jaibones on April 20, 2012 at 11:41 PM

Where’s Bonnie and Clyde when you need them?

ardenenoch on April 20, 2012 at 10:41 PM

Here ya go…

BlaxPac on April 20, 2012 at 11:46 PM

I don’t know what to make of this either.

I’ve been a very loyal BOA member for nigh on a dozen years now and they have served me incredibly well. Security is top notch. They’ve proactively contacted me about ways to earn more on my money that I didn’t even know about and I’ve done well doing so. Not one issue in all this time. None. I had more problems with my “home town” credit union in the past than I’ve had with BOA. I can’t indict them, they’ve served me extremely well.

If, IF, BOA is worried about some sort of legal onslaught against entities in the firearms industry, this seems way behind the times. I can’t believe it’s some shortsighted politically motivated ploy. Even marginal businessmen know better than that.

I’m gonna have to place a call into BOA Customer Care………..wanna know they can say. Take it from there.

JoeinTX on April 20, 2012 at 11:51 PM

I had a BoA account awhile back when I was in another state; mostly because like they’re like on every corner you look.

But after hearing stories like this & the fees they charge on checks and even basic banking, i closed the accounts, and went to another smaller chain and back to a Credit union.

BlaxPac on April 20, 2012 at 11:51 PM

Well, this is bizarre.

McMillan makes the fiberglass stocks on the sniper rifles used by the USMC. They make the Tac-50 for Canadian Forces. They make a whole range of firearms and accessories for military and law enforcement. McMillan firearms have saved American lives.

Bank of America thinks that’s a bad thing?

Seriously?

Wendya on April 20, 2012 at 11:52 PM

You know McMillian supplies our military with highly accurate sniper rifles that have saved an untold number of our kids lives.

Apparently BofA has lost sight of our troops safety.

Speakup on April 20, 2012 at 11:52 PM

Darn it. I wish I had an account with BOA, just so I could cancel it.

WarEagle01 on April 20, 2012 at 11:55 PM

If you can’t ban guns via the courts, wouldn’t restricting their ability to make guns and sell them be the second line of attack?

Kaptain Amerika on April 20, 2012 at 10:32 PM

That may well be what BofA and Mr. Ray Fox were thinking, given their apparently limited business skills, but as one of the few booming industries, the gun business has alternative capital available.

I echo the sentiments of several others: I wish I could take my business away from BofA, but I did that long ago.

RRFCL on April 20, 2012 at 11:56 PM

Just say No
to B-A and “O”.

n0doz on April 21, 2012 at 12:00 AM

Sounds like another ThinkProgress/Van Jones orchestrated boycott.

I have many choices of banks to do my business with. BofA will not be one of them.

powerpickle on April 21, 2012 at 12:02 AM

Here you go.

Jaibones on April 21, 2012 at 12:05 AM

McMillan firearms have saved American lives.

Bank of America thinks that’s a bad thing?

Seriously?

Wendya on April 20, 2012 at 11:52 PM

BOA is owned by Obama,
his bank, his wishes

burrata on April 21, 2012 at 12:06 AM

BOA is owned by Obama,
his bank, his wishes

burrata on April 21, 2012 at 12:06 AM

Waitaminut, it was our tax dollars that went to BOA, Obama was just the bag man.

AZfederalist on April 21, 2012 at 12:12 AM

I have been a customer for a little over 10 years. Looks like I won’t be seeing my 11th anniversary.

angryed on April 21, 2012 at 12:13 AM

Dang, well if I hadn’t closed my Bank of America account years ago when I found out they were giving loans to illegal aliens I would close it now.

I would just like you remind my friends here that Bank of America is one of the corrupt banks that Obama and Romney both supported bailing out. They would have ceased to be a corrupting influence on our government but for that bailout. What’s more, they would not be corrupting our society, as they are right now, as per the topic of this discussion.

FloatingRock on April 21, 2012 at 12:13 AM

I moved back to the US. My wife’s money at BoA is coming out within the week.

bearpaw on April 21, 2012 at 12:15 AM

I have been a customer for a little over 10 years. Looks like I won’t be seeing my 11th anniversary.

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 have been a customer for a little over 10 years. Looks like I won’t be seeing my 11th anniversary.

angryed on April 21, 2012 at 12:13 AM

Wha…?! But Ed! Your buddy O’Baaahma loves B of A!

Jaibones on April 21, 2012 at 12:17 AM

And if it weren’t for that bailout and the others, we would already be in a recovery right now and things would be looking up for our younger citizens, even though some of the older people who made unwise investments might have lost some of their wealth, that’s their problem. Young people didn’t do anything to deserve being cheated in that way. In fact they’re the ones that are stuck paying the bill for all the bailouts that are have caused the long slow decline. Not to mention all of the inflationary monetary policy that both parties support, inflation being a hidden tax that hits the lower economic strata the hardest.

That’s why so many young people support Ron Paul, in hopes of saving themselves and their hope for the future.

FloatingRock on April 21, 2012 at 12:20 AM


I was going to say they are afraid because of all robberies that used the guns from this manufacturer.

But that is not true since these days you rob a back with merely a note and from a wheelchair

Whatever the reason, can we invest in this manufacturer? Sales are booming and with obama that will continue for at least another 6 months

huntingmoose on April 21, 2012 at 12:33 AM

Darn it. I wish I had an account with BOA, just so I could cancel it.

WarEagle01 on April 20, 2012 at 11:55 PM

I was just thinking the same thing. Unfortunately, I did have an account with them up until 2 years ago but closed it in protest of their terrible (and it really is terrible, I don’t even know how they stay in business) customer service. Goshdarnit! I should have put up with it for 2 measly years so I could have twice the satisfaction of closing it now.

Dark Star on April 21, 2012 at 12:33 AM

I procrastinated for about a year before I finally closed my Bank of America account, because they were giving loans to illegal aliens. When I finally did I regretted that I hadn’t closed it right away at the same time everybody else did. It would have made a bigger statement.

Just do it.

FloatingRock on April 21, 2012 at 12:43 AM

I’ve still got a couple of small accounts with Bank of Amigos, but I’ve been looking for an excuse to close them down. If this turns out to be true then I think now is the time. In the Nashville area, at least at all the locations I (rarely) visit, they allow concealed carry which has always surprised me given their apparent leftist tendencies. (If they didn’t, I wouldn’t be there.) McMillan makes some very fine gear that let us reach out and touch bad guys at very long distances. Good people who make quality products and support our soldiers. The current long distance sniper shot is held by a (retired) Canadian soldier using a McMillan rifle.

BOA will be DOA if they mess with the NRA!

Fender54 on April 21, 2012 at 12:51 AM

I closed my BOA account loooooong ago. Went with a federal credit union and never looked back.

mythicknight on April 21, 2012 at 12:55 AM

Sorry, but my BS detector has been activated. This company is telling the bank that it’s changed business lines (from accessory manufacturing to gun manufacturing). It’s possible that the company was underperforming and that’s what drove the bank to want to exit the relationship. In that case, the accusation of a politically motivated “firing” could be a GOP-equivalent to playing the race card. They might, in other words, be using the media coverage amd the boycott threat as leverage in his workout negotiations.

Outlander on April 21, 2012 at 1:00 AM

They dropped my credit limit from $5,000 to $1,800.
Reason given……I didn’t use the card enough.
The real reason…..I paid off the balance every month and they weren’t making any interest off of me.
JPeterman on April 20, 2012 at 10:54 PM

Surprise, they’re in business to make money. Did you expect them to maintain your account and send you statements so they could lend you money at 0% interest every month?

rjl1999 on April 21, 2012 at 1:04 AM

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.

Too late. All gun owners and mfgrs should now shun and boycott the bastids, who were bailed out by the taxpayers and are protected by Soldiers and authorities with guns.

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?

The board must then fire them for feduciary dereliction.

Schadenfreude on April 21, 2012 at 1:13 AM

Regarding BOA:

“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.”

Yes they EMPLOY a system that allows them to turn off these safeguards (Like every credit card company) but only the customer (In this case the Obama campaign) can turn off those safeguards. The companies recommend against it and if you have too many fraudulent transactions they will charge a higher percentage of each transaction. The Obama campaign turned off the safeguards in 2008 and they’ve done it again, so they can accept donations from anyone, anywhere in the world. You do not have to be a U.S.citizen to donate (or even vote) in our elections. Add to that all the illegal and even dead voters who will cast a vote for BO and you have another stolen election. Voter nullification. Buy prepaid debit cards and pass them out to loyal operatives and that’s how you buy an election, and a country. The end is nigh!

Fender54 on April 21, 2012 at 1:13 AM

Surprise, they’re in business to make money. Did you expect them to maintain your account and send you statements so they could lend you money at 0% interest every month?

rjl1999 on April 21, 2012 at 1:04 AM

Surpriiiise.. I think credit card companies charge vendors a feeeee .. so they are, indeed making money all the time.

fullogas on April 21, 2012 at 1:18 AM

rjl1999 on April 21, 2012 at 1:04 AM

Dummies are indignant.

Schadenfreude on April 21, 2012 at 1:19 AM

Surpriiiise.. I think credit card companies charge vendors a feeeee .. so they are, indeed making money all the time.
fullogas on April 21, 2012 at 1:18 AM

Obviously not enough to make keeping his account open. Do you think they did it just to spite him? It was a business decision.

rjl1999 on April 21, 2012 at 1:20 AM

Worst bank there is.

galtani on April 20, 2012 at 10:41 PM

True…then this…they can go to Hades. May they go under.

Schadenfreude on April 21, 2012 at 1:21 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

It was a (stupid) business decision.

rjl1999 on April 21, 2012 at 1:20 AM

JP, drop them. There are plenty who’ll welcome and deserve your business.

The U.S. used to be the customer services heaven of the world. She is going the way of the 2nd and 3rd worlds. Don’t enable the morons.

Schadenfreude on April 21, 2012 at 1:23 AM

LegendHasIt on April 21, 2012 at 1:22 AM

See JPeterman comments, above.

Schadenfreude on April 21, 2012 at 1:25 AM

OB’s hands all over this.

Bambi on April 21, 2012 at 1:31 AM

What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!

Patrick Henry

Kimberlina on April 21, 2012 at 1:39 AM

Kimberlina on April 21, 2012 at 1:39 AM

:-)

LegendHasIt on April 21, 2012 at 1:40 AM

Imagine if, say, Chase bank came out tomorrow and announced it would no longer handle the accounts of abortion clinics. There would be a firestorm on the left and Democrats would be drawing up new banking regulations to prevent any such atrocity in the future (which would of course apply retroactively to Chase).

Sharke on April 21, 2012 at 1:53 AM

Obviously not enough to make keeping his account open. Do you think they did it just to spite him? It was a business decision.

rjl1999 on April 21, 2012 at 1:20 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

BofA has been a bank I have loved to hate for a long time. They are crony capitalist and often snobs with the public. They are should be broken up so that they are no longer, as our crony capitalist government put it, “too big to fail”. They and the government they play with should be slapped with a heavy dose of misery.

Charm on April 21, 2012 at 1:55 AM

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