SassyLady
04-28-2012, 02:42 AM
Bank of America asks gun manufacturer they no longer want them as a client. Do you think NRA will call for boycott of BofA?
Gun maker claims Bank of America dumped firm
By Karen Jowers - Staff writer
Posted : Thursday Apr 26, 2012 18:42:32 EDT
<form id="hidden" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; border-style: initial; border-color: initial; color: rgb(85, 85, 85); font-family: Arial, Helvetica, sans-serif; font-size: 12px; "></form>A firearms manufacturer has locked horns with Bank of America in a public battle resulting from the bank’s decision to no longer do business with them.Kelly McMillan, director of operations for McMillan Group International, LLC, claims that a Bank of America official told him April 20 the bank no longer wants the company’s business because it is a firearms manufacturer.
Bank of America officials deny the allegations, and say it does not have a policy that prohibits them from working with companies in the firearms industry. Bank of America spokeswoman Anne Pace said that the bank in fact has numerous clients in the industry — including about half of the top 25 firearms manufacturers.Pace confirmed that the bank has discussed a “transition period” with the company, but declined to specify why it is no longer doing business with them.
Among the firearm company’s customers are soldiers, law enforcement, Border Patrol, Secret Service, FBI, and others, according to McMillan.“We take pride in the fact that we have served this country continuously since 1975 when we made the first M40A1 stock for Marines,” McMillan wrote on his Facebook page.Accusations have been swirling around the Internet about Bank of America’s lack of support of Second Amendment rights.“We do support the Second Amendment and we do support the military,” Pace said.Bank of America has the Department of Defense contract for banking on overseas military installations.
“While we cannot discuss the details of any individual client we work with, we can assure you the allegations being made are completely false,” the company said in a statement. “In reviewing the facts of the case, we do believe there was a miscommunication with this client, and we have already reinforced our policies with our teams and with the client.”
In an interview April 26, McMillan said he has made no allegations about the bank’s policies. “I said exactly what happened in the meeting. I don’t know what they were thinking. I just know they don’t want my business.“If it were truly a financial reason, they would have asked me to pay down or pay off the accounts,” he said.
He said the April 20 meeting was scheduled “under the guise of being an annual review, but they never mentioned the lines of credit. … We’ve never bounced a check, never missed a payment, and we’re not maxed out on the line of credit.”During that meeting, the official discussed McMillan’s changes in the last five years, as the company has become more of a firearms manufacturer than a supplier of accessories, McMillan wrote on his Facebook page.
He wrote that he interrupted the Bank of America official and said, “What you are going to tell me is that because we are in the firearms manufacturing business you no longer [want] my business.”The official replied, “That is correct,” according to McMillan.
More ......
http://www.navytimes.com/news/2012/04/military-gun-maker-claims-bank-of-america-dumped-firm-042612w/
Gun maker claims Bank of America dumped firm
By Karen Jowers - Staff writer
Posted : Thursday Apr 26, 2012 18:42:32 EDT
<form id="hidden" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; border-style: initial; border-color: initial; color: rgb(85, 85, 85); font-family: Arial, Helvetica, sans-serif; font-size: 12px; "></form>A firearms manufacturer has locked horns with Bank of America in a public battle resulting from the bank’s decision to no longer do business with them.Kelly McMillan, director of operations for McMillan Group International, LLC, claims that a Bank of America official told him April 20 the bank no longer wants the company’s business because it is a firearms manufacturer.
Bank of America officials deny the allegations, and say it does not have a policy that prohibits them from working with companies in the firearms industry. Bank of America spokeswoman Anne Pace said that the bank in fact has numerous clients in the industry — including about half of the top 25 firearms manufacturers.Pace confirmed that the bank has discussed a “transition period” with the company, but declined to specify why it is no longer doing business with them.
Among the firearm company’s customers are soldiers, law enforcement, Border Patrol, Secret Service, FBI, and others, according to McMillan.“We take pride in the fact that we have served this country continuously since 1975 when we made the first M40A1 stock for Marines,” McMillan wrote on his Facebook page.Accusations have been swirling around the Internet about Bank of America’s lack of support of Second Amendment rights.“We do support the Second Amendment and we do support the military,” Pace said.Bank of America has the Department of Defense contract for banking on overseas military installations.
“While we cannot discuss the details of any individual client we work with, we can assure you the allegations being made are completely false,” the company said in a statement. “In reviewing the facts of the case, we do believe there was a miscommunication with this client, and we have already reinforced our policies with our teams and with the client.”
In an interview April 26, McMillan said he has made no allegations about the bank’s policies. “I said exactly what happened in the meeting. I don’t know what they were thinking. I just know they don’t want my business.“If it were truly a financial reason, they would have asked me to pay down or pay off the accounts,” he said.
He said the April 20 meeting was scheduled “under the guise of being an annual review, but they never mentioned the lines of credit. … We’ve never bounced a check, never missed a payment, and we’re not maxed out on the line of credit.”During that meeting, the official discussed McMillan’s changes in the last five years, as the company has become more of a firearms manufacturer than a supplier of accessories, McMillan wrote on his Facebook page.
He wrote that he interrupted the Bank of America official and said, “What you are going to tell me is that because we are in the firearms manufacturing business you no longer [want] my business.”The official replied, “That is correct,” according to McMillan.
More ......
http://www.navytimes.com/news/2012/04/military-gun-maker-claims-bank-of-america-dumped-firm-042612w/