What’s going on?
Bank of America has announced that it will no longer loan money to gun manufacturers who make AR-15 rifles and other “military-style” firearms.
What did they say?
“We want to contribute in any way we can to reduce these mass shootings,” Anne M. Finucane, vice chairwoman at the Bank of America, told Bloomberg TV.
Finucane said the decision affects “a handful of manufacturers.”
Are all gun sales through Bank of America’s services affected?
Not yet. Bank of America is still working with firearms retailers and says pressuring gun stores to stop selling certain types of guns “is a ways off.”
Didn’t another bank do something similar?
Citigroup recently restricted gun sales by its business customers, banning clients from selling guns to customers under the age of 21. Read the explainer here.
On today’s show, Glenn warned people not to ignore this story. When America has only five or so banks to choose from, we’ll be in trouble if all of them to decide to implement their own gun control measures.