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View Full Version : Bank of America and Mc Millen Firearms - can this really be true?



Tville
02-27-2013, 04:49 PM
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 possibly 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 want my business?"

"That is correct" he says.

I replied "That is okay, we will move our accounts as soon as possible. We can find a 2nd 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 let for him to say.

I think it is import for all Americans who believe in and support our 2nd amendment right to keep and bear arms should know when a business does not support these rights. What you do with that knowledge is up to you. When I don't agree with a business' political position I can not in good conscience support them. We will soon no longer be accepting Bank of America credit cards as payment for our products.
Read more at http://www.snopes.com/politics/guns/bankofamerica.asp#FAcYYiI8YuAfqpAI.99

Dman
02-27-2013, 05:03 PM
I wouldn't doubt it.

Marvin S
02-27-2013, 05:05 PM
I replied "That is okay, we will move our accounts as soon as possible. We can find a 2nd 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?"

It is very popular to attempt to increase your sales by claiming your fealty to the 2nd amendment! Rather like the veterans thing. If the line of credit was canceled I am sure it was for a different reason. As I read the snopes link it appears that BAC did not agree with your post - My question - are you in the employ of McMillen?

Zman1001
02-27-2013, 05:16 PM
This is not the first time this story has gone around. I read same or similar story a year or two ago

Gawthorpe
02-27-2013, 05:25 PM
I stopped doing business with Bank of America personally because:
1. They began to open accounts for Illegal Aliens in California.
2. They were committing deceptive banking practices by applying debits to my account before my cash credits. They eventually paid a penalty on this.

Tville - add credibility to this story by posting your actual name. Is this a story you copied from somewhere else? Where are you employed?

DoubleHaul
02-27-2013, 05:32 PM
We stopped dealing with BOA because they sucked. We now use a bank that is quite helpful (although their anti-fraud folks are a little hyper vigilant on my personal stuff for my taste). That is so hard to find that I would probably stay with them if they banned purchases of baseball, hot dogs and apple pie.

Thomas D
02-27-2013, 05:35 PM
http://www.snopes.com/politics/guns/bankofamerica.asp

Mary Lynn Metras
02-27-2013, 05:35 PM
Gotta be more to this story? Turning down business? Two sides to every story.

JoeOverby
02-27-2013, 05:49 PM
Actually, it is true. My future FIL used to bank with BOA. When I first got the email about this, I forwarded it to him. My future FIL CALLED McMillan and they confirmed..BOA shafted them for political reasons.

huntinman
02-27-2013, 06:00 PM
Thread should probably be on POTUS page. BOA is under pressure from Obama admin and Dems for doing just what OP says. As are other large banks. It has been reported before and recently in the MSM..

TonyK
02-27-2013, 06:26 PM
We stopped dealing with BOA because they sucked. We now use a bank that is quite helpful (although their anti-fraud folks are a little hyper vigilant on my personal stuff for my taste). That is so hard to find that I would probably stay with them if they banned purchases of baseball, hot dogs and apple pie.

I trust anyone with a chinchilla avatar. F BOA!

tide pond
02-27-2013, 06:30 PM
I'm done with them. Pulling my accounts tomorrow a.m.

Byron Musick
02-27-2013, 06:34 PM
I started banking with these folks back in 1985... They have not done me any favors, and I just closed two accounts with them because I no longer have trust... So sad a business feels the need to become political, even against current laws... Sad day indeed..

David McLendon
02-27-2013, 07:09 PM
They pulled the same shit with Cheaper Than Dirt, and they rolled. So called Assault weapons are no longer available from them. Think about it before you spend your money.

Tville
02-28-2013, 06:35 AM
It is apparently factual - I got a response from K. McMillan stating that BofA asked them to find an other bank because they were involved with firearms. McMillan now banks with the Nat Bak of Arizona. Ck it out at k.mcmillan@mcmillanusa.com

25-ott-06
02-28-2013, 07:14 AM
Allot of guys in Pa dropped their BASSPRO credit cards for this reason.

Granddaddy
02-28-2013, 09:20 AM
Notwithstanding the questions regarding the accuracy of the McMillen/BOA relationship, US Attorney Gen, Eric Holder has publically advocated the same strategy for gun control purposes. It is a part of the current adimistration plan to make life difficult for the gun industry. While this incident may be questioned, the intent to use such coercion against the banks & insurance companies doing business with the gun industry to gain support for Obama's gun control positions is a very active part of the plan.

Jrocket
02-28-2013, 09:47 AM
Not that this may have anything to do with it but think about it...
I have worked for the DOD for 28 years.
BOA has just picked up the new contract for all of our travel cards, (the VISAs that we go TDY on)
strange but if you put 1 plus 1 together you get 2.
The Administration in the Big House is pushing gun control.
the Bank that the U.S. Goverment travels on is refusing Gun Oriented Business

CAN YOU SAY BIG MONEY TALKS?

Just Saying
:mad:

Hooked on Quack
02-28-2013, 10:17 AM
Just texted my wife to see if we have any accounts with them. If we do, they will be closed out soon !!!

Larry Thompson1
02-28-2013, 02:34 PM
This is discouriging, I am at this moment working on BOA,s in south FLA. I can only say did you vote? I did and have to earn a living. I will have to continue working for them until something changes. 4.5 yrs left and will have to suck it up.

Susan Young
02-28-2013, 06:32 PM
OK, I’m kind of confused here. I read the snopes report on this that is linked in the original post that began this thread, and it shows that this just isn't true.

K. McMillan said in April 2012 that Bank of America didn’t want to do business with them because they manufacture firearms. BoA responded that while won’t discuss the details of an individual client, the charges of a policy that they won’t do business with weapons manufacturers are false. BoA goes on to point out that in April 2012 they are involved with a 250 million dollar business deal with the Freedom Group, one of the world’s largest manufacturers of weapons and ammunition: http://articles.chicagotribune.com/2012-04-12/news/sns-rt-markets-uscorpbondsl2e8fcdm6-20120412_1_senior-notes-high-yield-market-municipal-bonds

About halfway down the article you’ll find, “Elsewhere, talk of 8% area is out on the US$250m third lien senior secured notes from FGI Operating Co (Freedom Group Inc). The eight-year non-call three issue is being led by BofA, Merrill, Deutsche Bank and RBC joint books (http://articles.chicagotribune.com/2012-04-12/news/sns-rt-markets-uscorpbondsl2e8fcdm6-20120412_1_senior-notes-high-yield-market-municipal-bonds##)
. Proceeds of the deal, which is expected to price in the afternoon, will be used to fund bond tender offers. Freedom Group makes guns and ammunition.” (http://articles.chicagotribune.com/2012-04-12/news/sns-rt-markets-uscorpbondsl2e8fcdm6-20120412_1_senior-notes-high-yield-market-municipal-bonds##)

The snopes report goes to say that charges were made in December 2012 from American Spirit Arms that when their deposits increased by 500% because of increased gun sales, BoA held their deposits supposedly because they were involved in the sales of weapons. If you keep reading though, you’ll see that this was resolved. It is BoA policy to review any spike in activity to protect their customers. It had nothing to do with the company’s product.

Finally, there were charges made by video in January 2013 that BoA blocks the use of their credit cards and debit cards for firearm and ammunition purchases. These were proven false. The video that originally "proved it" has been corrected to say they were wrong, and there's another video also showing BoA saying there is no such policy.

So there seems to be only one company charging BoA with dropping them as customers, while BoA can show an article published the very same week announcing their part of a 250 million dollar deal with a company that ……. makes guns and ammunition. Who knows what really went on with K. McMillan to cause BoA to drop them as customers, if that really happened?

Bubba
02-28-2013, 08:02 PM
You do realize that Snope is a wholly owned subsidiary of Obama Inc Right?

Facks vary regards

Bubba

mngundog
02-28-2013, 08:40 PM
You do realize that Snope is a wholly owned subsidiary of Obama Inc Right?

Facks vary regards

Bubba
The Snopes article and Foxnews article are almost identical I guess their both a wholly owned subsidy's of Obama Inc?:D

BBnumber1
02-28-2013, 09:23 PM
The flip side of the story. BoA is being pressured by the Mayor of Chicago, because they loan money to companies like Sturm Ruger

http://www.abc15.com/dpp/news/national/gun-control-2013-chicago-mayor-rahm-emanuel-asks-banks-to-cut-off-gun-makers

jeff evans
02-28-2013, 09:27 PM
Post #18........