Bank of America will fund assault-type rifle maker

Big ChiefBig Chief Senior MemberPosts: 31,688 Senior Member
https://www.foxbusiness.com/markets/bank-of-america-will-fund-assault-type-rifle-maker

Are they getting the message or is it just a "Business Decision"?

I know Obammy and his AG were pressuring the banks not to do business with gun makers or give loans to gun shops , backdoor discrimination against legal products/gun control.

They had some devious schemes to thwart the 2A they used in lieu of not being able to get their gun grabbing bills  passed in Congress.  
It's only true if it's on this forum where opinions are facts and facts are opinions
Words of wisdom from Big Chief: Flush twice, it's a long way to the Mess Hall
I'd rather have my sister work in a whorehouse than own another Taurus!

Replies

  • Big ChiefBig Chief Senior Member Posts: 31,688 Senior Member
    Now BoA is saying this was agreed to before their "Pledge" .................
    It's only true if it's on this forum where opinions are facts and facts are opinions
    Words of wisdom from Big Chief: Flush twice, it's a long way to the Mess Hall
    I'd rather have my sister work in a whorehouse than own another Taurus!
  • Uncle FesterUncle Fester Senior Member Posts: 990 Senior Member
    That is probably true.  If they made a pledge to do the loan, they would face massive lender liability claims if they simply backed out.
  • zorbazorba Senior Member Posts: 16,547 Senior Member
    Why? That never stopped a BANK before.
    -Zorba, "The Veiled Male"

    My Karma ran over your Dogma!
  • Uncle FesterUncle Fester Senior Member Posts: 990 Senior Member
    edited May 8 #5
    zorba said:
    Why? That never stopped a BANK before.

    PWhile you and I don’t really have the money to make a bank pay for reneging on a promised loan.  The parties who are recapitalizing Remington do.  If the refinancing failed because of the bank’s decision, injured parties would be lining up to sue.

    http://www.haynesboone.com/~/media/files/attorney%20publications/iri_9_1_april_2015_lender_liability.ashx
  • zorbazorba Senior Member Posts: 16,547 Senior Member
    Yep, that's what it comes down to. You and I are pretty helpless against BANKS - which is one reason I only do business with credit unions now. S&Ls back in the day, CUs now. Not perfect either, but generally MUCH better...
    -Zorba, "The Veiled Male"

    My Karma ran over your Dogma!
  • Uncle FesterUncle Fester Senior Member Posts: 990 Senior Member
    zorba said:
    Yep, that's what it comes down to. You and I are pretty helpless against BANKS - which is one reason I only do business with credit unions now. S&Ls back in the day, CUs now. Not perfect either, but generally MUCH better...
    I agree on Credit Unioins. Luckily, my dad’s Service qualifies me for USAA.
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