Bank of America to stop lending to makers of assault-style weapo - KMOV.com

Bank of America to stop lending to makers of assault-style weapons

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(AP Photo / File) (AP Photo / File)

(CNN/Meredith) -- Some gun makers won't be able to use Bank of America's money to support their businesses anymore.

Bank of America Vice Chair Anne Finucane told Bloomberg TV on Tuesday that the bank will no longer finance gun companies that manufacture assault-style weapons for public or non-military use. 

The bank said it was looking for ways to help stem violence after the school shooting in Parkland, Florida.

"We want to contribute in any way we can to reduce these mass shootings," Finucane said in the interview. "We do have a few manufacturers of military-style firearms. We're in discussions with them. We have let them know ... it's not our intent to underwrite or finance military-style firearms on a go-forward basis."

Finucane didn't identify with which companies Bank of America is cutting ties. 

American Outdoor Brands, which owns Smith and Wesson, and Sturn Ruger both make AR-15 rifles. According to CNBC, Bank of America has lent money to Sturn Ruger in the past. 

When asked if the bank plans to stop doing business with retailers that sell guns, Finucane said that would involve complicated civil liberties and Second Amendment issues.

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