Hitting the gun lobby where it hurts: bank accounts | Arkansas Blog

Sunday, February 25, 2018

Hitting the gun lobby where it hurts: bank accounts

Posted By on Sun, Feb 25, 2018 at 9:57 AM

click to enlarge LINE OF CREDIT: The manufacturer of this weapon has a line of credit with Bank of America, which says it is re-examinng its relationships with gunmakers. The exact meaning of that remains unclear.
  • LINE OF CREDIT: The manufacturer of this weapon has a line of credit with Bank of America, which says it is re-examinng its relationships with gunmakers. The exact meaning of that remains unclear.
The corporate backlash to the NRA continues and this development could go beyond the end of deals with rental car companies. From Think Progress:

Bank of America says it’s reexamining its relationships with gun manufacturers in the wake of widespread boycotts targeting the National Rifle Association (NRA). The boycotts followed a deadly shooting at Marjory Douglas Stoneman High School in Parkland, Florida, in which 17 people were killed.

“We are joining other companies in our industry to examine what we can do to help end the tragedy of mass shootings, and an immediate step we’re taking is to engage the limited number of clients we have that manufacture assault weapons for non-military use to understand what they can contribute to this shared responsibility,” a Bank of America spokesperson said in a statement to Axios on Saturday.
What does this mean? We don't know yet. But what if banks blocked use of credit cards for gun purchases (as they've done for digital currency)? What if Bank of America decided not to renew a line of credit with the Sturm, Ruger firearms company due to expire this year? That is only speculation at this point. But food for thought.

Of course, Arkansas stands ready to provide unlimited corporate welfare to gunmakers should something like this happen, if outreach by former NRA spokesman Gov. Asa Hutchinson is any indication.

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