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Thread: Bank of America and Mc Millen Firearms - can this really be true?

  1. #21
    Senior Member Susan Young's Avatar
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    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/2...unicipal-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
    . 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.”

    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?

  2. #22
    Senior Member Bubba's Avatar
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    You do realize that Snope is a wholly owned subsidiary of Obama Inc Right?

    Facks vary regards

    Bubba
    There are three classes of people: those who see...those who see when shown...and those who do not see. - Leonardo da Vinci

  3. #23
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    Quote Originally Posted by Bubba View Post
    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?

  4. #24
    Senior Member BBnumber1's Avatar
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    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/nation...off-gun-makers
    -=#David

    Well, this started off as a really interesting thread. Too bad we couldn't keep it that way. (Rick_C 2009, Classic RTF)
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  5. #25
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    Post #18........
    "Women are like labradors...,they all have their quarks."~Phil Robertson

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