bank of (un)Amerika freezes gun makers accounts

[mont974x4]

“After countless hours on the phone with Bank of America, I finally got a manager in the right department that told me the reason that the deposits were on hold for further review — her exact words were — ‘We believe you should not be selling guns and parts on the Internet.’”

Read more: http://times247.com/articles/gun-maker-bofa-froze-account-over-politics#ixzz2HPT3VnnG



Talk about petty and vindictive. A reasonable bank would have talked it out and allowed the customer to simply find a new bank.

 

[Revmitchell]

They have no business tying up any accounts like this.

 

[Squire Robertsson]

It looks like a low level manager has opened BofA up to a massive civil case. I can't see this coming out of corporate headquarters. And if it did, it wasn't sent through corporate legal.
I can see the manufacturer's lawyers salivating over this case. BofA=(earth's core) deep pockets.

 

[Arbo]

Is BoA's action legal?

 

[annsni]

Before I make a judgment call on this, I'd like to know more information - including if everything is done legally and if truly this was the reason for the bank to hold up the deposits (I doubt one person could really influence bank policy that much). Just not enough info in that article for a feeling on this.

 

[Squire Robertsson]

See my comments at Post 3. (The baying you hear is American Spirit Arms' pack of lawyers on the trail of B of A.)

Is BoA's action legal?

 

[Earth Wind and Fire]

“After countless hours on the phone with Bank of America, I finally got a manager in the right department that told me the reason that the deposits were on hold for further review — her exact words were — ‘We believe you should not be selling guns and parts on the Internet.’”

Read more: http://times247.com/articles/gun-maker-bofa-froze-account-over-politics#ixzz2HPT3VnnG



Talk about petty and vindictive. A reasonable bank would have talked it out and allowed the customer to simply find a new bank.

Fascists Legally how can they do that?!?

There is a big law suit for ya!

 

[mont974x4]

Wasn't it B of A that was offering credit cards etc to illegal aliens a few years ago? I believe they have a history of making these kinds of moves.

 

[NaasPreacher (C4K)]

Before I make a judgment call on this, I'd like to know more information - including if everything is done legally and if truly this was the reason for the bank to hold up the deposits (I doubt one person could really influence bank policy that much). Just not enough info in that article for a feeling on this.

I agree. There is far too much sensationalist news on the gun debate to make a decision based on one viewpoint in one article.

 

[Squire Robertsson]

And incomplete information at that. The article cited barely gives surface information. I want to know what level of manager the American Spirit Arms (ASA) spoke to. Was the manager local, regional, or national? The firearms industry is too big for this to be a corporate policy of B of A.

I agree. There is far too much sensationalist news on the gun debate to make a decision based on one viewpoint in one article.

 

[Aaron]

I agree. There is far too much sensationalist news on the gun debate to make a decision based on one viewpoint in one article.

This from someone deciding on Whitefield's views of Islam in America from an arcane article that didn't even mention them.

http://www.baptistboard.com/showpost.php?p=1891758&postcount=59


Your bias and modus operandi are obvious and nauseating, and the smell seems to be sticking to other high-ranking individuals.

 

[Squire Robertsson]

Roger, through a Google news search, I learned this isn't the first case of B of A trying to shed a firearms manufacturer. Last year, they told McMillian to find another banker.

This isn’t the first time Bank of America has pulled this stunt. According to an April 20, 2012, Daily Caller report, McMillan Fiberglass Stocks, McMillan Firearms Manufacturing and McMillan Group International were told by the bank that after 12 years of doing business, it was time for them to “find another bank.”
“The McMillan group of companies may have the last laugh,” the Daily Caller reported. “It is considering no longer accepting Bank of America credit cards for purchases.”

http://dailycaller.com/2012/04/20/anti-gun-bank-of-america-tells-gun-company-to-find-another-bank/
So, there's not only smoke. But, there looks to be fire.

I agree. There is far too much sensationalist news on the gun debate to make a decision based on one viewpoint in one article.

 

[NaasPreacher (C4K)]

Roger, through a Google news search, I learned this isn't the first case of B of A trying to shed a firearms manufacturer. Last year, they told McMillian to find another banker.
http://dailycaller.com/2012/04/20/anti-gun-bank-of-america-tells-gun-company-to-find-another-bank/
So, there's not only smoke. But, there looks to be fire.

Thanks for that - yesterday was a busy name for me. While I have to admire BOA for acting in their beliefs, I think it might be financial suicide for them if all of this is a clear as it looks.

This is one of the blessings of free enterprise - companies can make the decisions and customers can respond.

 

[Revmitchell]

Jeffrey Dahmer acted on his beliefs.

 

[Revmitchell]

Hitler acted on his beliefs.

 

[Revmitchell]

Bin Laden acted on his beliefs.

 

[Revmitchell]

Satan acted on his beliefs.

 

[Crabtownboy]

1. Luther acted on his beliefs
2. Calvin acted on his beliefs
3. Billy Graham acted on his beliefs
4. Jesus acted on his beliefs
5. etc., etc., etc.
   
   A company policy may reflect the beliefs of its board of directors, CEO, etc.

 

[Revmitchell]

I do not know why liberals have to have everything explained to them. Simply acting on beliefs is not a virtue itself and can be immoral. Much like freezing accounts because you do not personally like the nature of the business. That is harassment and it is immoral.

 

[Mexdeaf]

Like it or not BOA has the right to decide to accept anyone's business or not- and also suffer the consequences of those decisions.

I wonder how many NRA members are BOA account holders- and if they will feel strongly enough about this issue to change banks?

As an aside I have not used corporate banks for years, except for when we were missionaries and did not have a choice. I much prefer Credit Unions where I am a member instead of just a customer.