Bank of America vs. McMillan Conflict Draws National Attention
Last week, we reported that Bank of America (BofA) had told McMillan Group International (McMillan) to find a different business banking provider. The Daily Bulletin was one of the first media sources to break the story — our report appeared a few hours after Kelly McMillan posted the details on McMillan’s facebook page. According to Kelly’s post, he had been visited by a BofA Sr. Vice President who, in essence, told McMillan to find another provider of banking services within six months. BofA’s stated reason for terminating its long-standing relationship with McMillan was that the family-run, Phoenix-based company now manufactures rifles (and not just fiberglass stocks).
BofA Action Provokes Criticism from Gun Owners
Over the past week, BofA been the focus of a torrent of criticism from gun owners and those who support Second Amendment freedoms. Bank of America (the recipient of $45 billion dollars in federal TARP bailout loans) responded with a notice saying that it does NOT have a corporate-wide policy preventing BofA from doing business with gun manufacturers. BofA pointed to its participation in a very large financing for the Freedom Group (which includes Remington and Bushmaster). Nonetheless, the BofA Sr. VP’s message enunciated to Kelly McMillan — i.e. find another bank within six months — has not been repudiated.
Major Media Pick Up Story — And Glenn Beck Sounds Off
Public interest in this story grows by the day. Major newspapers and media outlets are now running the story.The BofA/McMillan controversy was the focus of Glenn Beck’s April 24, 2012 radio show. Beck opined that BofA’s response was confusing at best — BofA may say that it has no written policy against doing business with gun manufacturers, but this does not prevent BofA’s executives or regional bank managers from denying lines of credit to gun-makers.
NRA Interviews Kelly McMillan
On April 23rd, NRA Radio host Cam Edwards interviewed Kelly McMillan via telephone. In the interview, Kelly provided more details of his recent interactions with Bank of America. Those interested in this controversy can listen to the full interview by clicking on the YouTube Video embedded below:
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Tags: Bank of America, Cam Edwards, Glenn Beck, Kelly McMillan, NRA
Glad to see this situation growing.
I wonder if the Freedom Group will make a ‘statement’ by moving somewhere else…
UNBELIEVEABLE!I guess I need to change my accounts. Of course with my compulsive spending on supplies, guns and tools, it maybe MORE of a punishment to STAY with BofA,,,HMMM
I MOVED MY 3 ACCOUNTS TODAY !
every gun owner move your money now SHOW B OF A OUR OPION IS IMPORTANT.
Maybe BofA knows something about the Freedom Group(names can be deceiving) that we don’t.
The president of BofA received a performance bonus for 2011 of over 9 MILLION and the share value for BofA dropped 58% that same year. If this is how the bank treats it’s customers with fees and refusal to do business with firearms manufacturers all gun owners should boycott BofA and they may go away like Lehman Bros. I pulled my accounts!
I wish the NSSF, NRA, SCI,et al., would step up to the plate and address the industries: banking, insurance, common carriers, store chains, fuel chains, etc., that are not “firearms friendly”.
Neither (Firearm manufactures, dealers, vendors, or their Customers)incividuals, corporations, and government agencies should do business with other business that refuse to do business or have corporate policies that don’t support the Firearm industry and the constitution of the United States. They should exempt business unfriendly to the firearms business from receiving government monies and contracts. The firearm industry has been in existence since the founding of this country. It has supplied jobs,tax revenue, and provided protection to it’s citizens from the begining.
Nat Lambeth
Rob Furlong weighed in too:
http://www.sunnewsnetwork.ca/sunnews/world/archives/2012/04/20120425-162344.html
He’s the sniper that made the 2430 meter shot in Afghanistan with a McMillan TAC-50.
A. Sure wish I banked with BofA so I could move my company’s business.
B. Is BofA the bank that does not require drivers’ licenses to open checking accounts, catering to the undocumented aliens?
I am moving my accounts.
Last report from Kelly clarifies that BoA VP said the issue was “risk reliability” not the 2nd Amendment. Look up what that means.
please tell me what bank you chose. i will be sure to loudly voice our opinions up here in my area. God Bless you all!