Bank of America Tells McMillan Group to Find Another Banker
Apparently Bank of America is no longer willing to provide banking services to McMillan Group Int’l, LLC (McMillan), a leading maker of gunstocks and an important supplier of stocks, rifles, and other hardware to our U.S. Armed Forces. Apparently it is not good enough that McMillan builds products used by our troops to safeguard our freedoms.
Here’s what went down. In the course of an “account analysis”, a Senior VP of Bank of America (BofA) confirmed that BofA wished to cease doing business with McMillan because the Arizona-based company now builds rifles, not just stocks and accessories. The details of the fall-out between BofA and McMillan were outlined April 19 in a post by Kelly McMillan on McMillan’s Facebook page.
HERE is the Text of McMillan’s Announcement Regarding Bank of America:
McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group International have been collectively banking with Bank of America for 12 years. Today Mr. Ray F., Senior Vice President, Market Manager, Business Banking, Global Commercial Banking came to my office. He scheduled the meeting as an “account analysis” meeting in order to evaluate the two lines of credit we have with them. He spent 5 minutes talking about how McMillan has changed in the last 5 years and have become more of a firearms manufacturer than a supplier of accessories.
At this point I interrupted him and asked “Can I possibly save you some time so that you don’t waste your breath? What you are going to tell me is that because we are in the firearms manufacturing business you no longer want my business.”
“That is correct” he says.
I replied “That is okay, we will move our accounts as soon as possible. We can find a 2nd Amendment friendly bank that will be glad to have our business. You won’t mind if I tell the NRA, SCI and everyone one I know that BofA is not firearms industry friendly?”
“You have to do what you must” he said.
“So you are telling me this is a politically-motivated decision, is that right?”
Mr. F. confirmed that it was. At which point I told him that the meeting was over and there was nothing left for him to say.
I think it is import[ant] for all Americans who believe in and support our 2nd Amendment right to keep and bear arms should know when a business does not support these rights. What you do with that knowledge is up to you. When I don’t agree with a business’ political position I can not in good conscience support them. We will soon no longer be accepting Bank of America credit cards as payment for our products.
Kelly D. McMillan
Director of Operations
McMillan Group International, LLC
McMillanUSA.comLast name of Bank of America VP redacted at request of McMillan.
Commentary: The LAST thing Bank of America should be doing right now is terminating relationships with important, long-standing business customers. Because of a series of billion-dollar blunders by Bank of America executives, the company has suffered major financial losses and write-offs, and it was forced to sell off important assets. Reflecting the bank’s poor management, Bank of America share values declined 58% in 2011. That made BofA the “worst-performing stock in the 30-member Dow Jones Industrials Index” last year according to DailyFinance.com.
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Tags: Bank of America, BofA, Kelly McMillan, McMillan Group, Second Amendment
BofA consistently makes these kinds of decisions that hurt their business and reputation.
You can bet ole Mr. Fox didn’t want to have to tell his clients to go piss up a rope – but they do this stuff EVERY DAY.
Anyone still banking with BankofArrogance is either not paying attention or a fool.
Have a look “WIKI” Bank of America,
5th largest company-by reserves- in the USA and 3rd largest in the world…
Founded in 1998…I think brian Moynihan CEO needs to take a close look at his staff or did he forget WW2, freedom , 2nd Amendment etc. Not to mention how big the fire arms industies are in the USA.
We all must fallow KELLY’s example!
Since the passing of the Frank-Dodd Bill, the government bailouts,etc. The big banks are no longer independent businesses like they once were. I am not excusing the above behaviour in any way but I hope people understand that this is another reason to change who is in the White House, Senate, House and other elected offices.
T. Alves
BofA just made another bad decision. I wonder if was motivated by pressure from the current administration?
Like so many liberal, socialist and communist based businesses in the US, once they arrogantly show their true colors, they relegate themselves to “the ash heap of history”…….just a matter of time, now, and good riddance to maggot-infested trash. Bye-bye, suckers!
I just checked with my personal accountant (my wife), and we currently don’t have any accounts with them. If we did I was ready to get some other funding and terminating my account w/ Bofa. They need to change their name to the Bank of Socialism, or Communist R’ Us!
This is only one of a galaxy of great reasons to ditch BofA. Their offenses against citizens and consumers throughout the political spectrum are ’bout limitless, starting with the most basic customer services.
All Americans Business and Individuals need to stand together and industries that do not suppor our values, ideals, laws and rights should not be traded with. We have a local group called “GrassRoots” and they publish a list of “do not buy from list”. It has been highly effective at changing some companies political stances. The NSSF, NRA, SCI, and other groups should publish the names of individuals and corporations that are unfriendly to guns, gun owners, shooting, and hunting so their members can do business else where. We can still choose who we do business with. There are several states, cities, banks, credit card companies, and major corporations that are antigun.
Nat Lambeth
KELLY will find a new and better bank and everyone should follow this example.
BofA is no longer “for america”.
“BofA just made another bad decision. I wonder if was motivated by pressure from the current administration?”
Now that is just absurd. In your mind is EVERYTHING the fault of the administration?
Open your mind.
Shame that McMillan also makes a narrow minded and revenge decision on not accepting BoA cards, even thos the HOLDERS of those cards may be their customers.
How eactly does losing a sale because a loyal customer has a BoA card actually hurt BoA?
So, now, because I hold a BoA card, I can’t buy your products, and as such, you are forcing me to make a decision that is driven by your personal feelings about BoA. That’s isn’t exactly freedom either.
Not a smart business move at all McMillan.
This is a company that provides gear to our young men and women who enlist to go down range and fight and die for our freedoms.
There are too many banks out there who would happy to make money off of the money McMillan deposits.
[Expletive] BOA
All the more reason to bank with a locally owned bank that supports your community/area.
Way to go MCM..
Rod
Are there other large banks that have similar policies?
Not surprising really if you consider that “Bank of America” originated from a company called “Bank of Italy” (based in SF). Obviously they are still taking orders from the headstone of Mussolini.
I am currently on the phone with BoA. They asked where I read the story so I told them. They have the site BLOCKED – I think this tells you their stance on 2A. I will be changing banks.
Wow – BoA said they don’t know anything about the story. I asked for someone to call check and call me back. They said “no.” I informed them this a deal breaker and they said they had the right to terminate service with whoever the chose.
Customer service????
“BofA just made another bad decision. I wonder if was motivated by pressure from the current administration”
Interesting thought, but if you actually did any research you would find that the politician that has received the largest contributions from BofA (at a factor of over 10 to 1) is the Senator from Arizona John McCain (http://maplight.org/us-congress/organization/9448047-bank-of-america) so that pretty clearly shows where BofA’s politics are.
B of obama just screwed another American co. Remember in November who to vote AGAINST !!!
What would you expect from an organization that offered credit cards to illegal aliens with no SSN?
http://www.snopes.com/politics/immigration/bankofamerica.asp
They lost my business a long time ago; this simply reaffirms the decision.
I will, of course, remove all business from BofA, tell as many of my fellow hunter/fisher people of BofA’s stand on firearms industry and ask them to also remove their accounts from BofA, tell their friends why. Maybe if BofA see’s how many sports people do or did, business with them, they will have a differant opinion of the firearms industries. Bill K
Cant go wrong with military friendly USAA.
I just applied (online) for an NRA VISA card. The online application page is http://www.nraaccounts.com/nra/. The process ended noting 2-4 weeks to receive notice of acceptance by mail. The only question now is whether to shred the BofA card now or wait until I get the NRA card. BTW, BEFORE I applied for the NRA card, I confirmed with the bank that handles the NRA card – National Bank of Omaha – that they are neither owned by nor in any way affiliated with BofA.
I just pulled an article off Newsmax a few minutes before I tuned in here. The article, “Obama ‘Salesman of the year’ for the Gun Industry” points out a few things that I bet President Obama will never mention: “.. jobs in the gun industry increased by 30 percent to 98,750, and firearms businesses paid $2.5 billion in federal taxes, up 66% in the three-year period…”
Anyone that still banks with BOA(bunch of a**es) has got to have rocks in their head.Just remember, dependent upon the multiplier, every $1 you remove from the bank, the amount that the institution has available to lend to their “PC sheep” is reduced by $5…..or more!!
Roy
“5th largest company-by reserves- in the USA and 3rd largest in the world…” How does that make any sense???
By choosing who they will do business with based on their own ethics they are MORE AMERICAN than companies who just look for their bottom line.
Just because you do not agree with their business decisions does not mean they are un-american.
Go here: http://www.opensecrets.org/orgs/summary.php?id=d000000090
Scroll down to top recipients, the Bank Of America has donated money to the flip flopper (previously pro-gun-control, tomorrow who knows?) Mittens Romney campaign. Not only that but the re-election efforts of the current you know who….I don’t buy the whole lesser of two evils principal, that’s like asking someone if they want 300mgs of cyanide or 200mgs. We don’t need these sellouts, we need someone to lead us in restoring the republic.
No more tarp bailouts!
my mortgage is through these a##holes. how do I get it out of their bank and into another? I no longer want anything to do with bank of America.
Forget the hand wringing, the name calling, and the posturing.
Focus on the fact that we as consumer still control the fate of each and every business entity by the way we spend our money.
Make the choice to spend, or not to spend.
For me, BoA is on the ‘verboten’ list.
I wish I had an account with BoA, so I could cancel it.
Hubert… LMAO!
You guys might want to take a look at other bank’s policies… A LOT of banks clearly document that they will refuse to do business with anyone that does anything with the sale or distribution of arms (small or large). HSBC is a good example. Policies like this are not new.
BOFA’s actions in this case angers me just as much as everyone else. I was just pointing out that BOFA had a standing policy that they chose to act upon. Why now instead of sometime in the past (or not accepting McMillan’s business to begin with)… who knows! Make all the assumptions you want, there are probably about 5 people in the world who know the actual reason.
“McMillan has changed in the last 5 years and have become more of a firearms manufacturer than a supplier of accessories”
In the LAST 5 YEARS???? wtf!
I don’t understand why did they decide to do this right now. McMillan has been manufacturing rifles for quite a while now (the TAC 50 is more than 30 years old now).
USAA in San Antonio.
Most of you (If you were/are in the military) know who USAA is.
I recently received an insurance check from them for a claim.
Guess what bank it was on.
Bank of America!
I intend to send a Certified letter to Gen. Robles and ask him WTF!
Retired USAF pilot.
Jared — McMillan supports our military and LE community. Step up, think, and get a backbone.
This is one of the poorest run financial institutions in the world. They Failed the recent round of FDIC Stess Tests! They are not doing business with Fannie Mae! The list goes on. McMillan is a government contractor for Gods sake. Ray F should be terminated and we all should do no business with this tax payer subsidized black hole. If the NRA continues to use them let us start there.
Bank of America should not be allowed to operate. Besides the infor in this article, I must add, that they foreclosed on a home owned by my 87 year old brother while he was still trying to make payments on the house. BOA found a flaw in the terms of the loan, and after my brothers wife of 60 years, passed away they foreclosed because they wanted the property. What type of bank is this that they are allowed to flaunt their power like this???
Gentlemen of McMillian,
I sincerely hope that BofA loses a major amount of business as a result of there action against McMillian.
Shame on Bank of America!
I see my comments were edited – how about some free speech? Support the ENTIRE Constitution.
We will not support the Bank of America with Green Transportation and Training of Veterans due to your decision to stop doing business with McMillan. We support our veterans and we don’t support companies that do not take care of our American soldiers.
lets us know who you get as the new bank, so i can switch to them
For all you right winged blinded idealogues, stop trying to blame Obama for everything that takes place within your disappointing world. Bof A recently endorsed Rick Perry for President. Another great American.
Tony Chow says {April 20, 2012 at 11:53 am). “Not surprising really if you consider that “Bank of America” originated from a company called “Bank of Italy” (based in SF).” He then goes on to try to link it to Mussolini….
BoA’s origin is North Carolina National Bank — which is why its headquarters in Charlotte, NC and not San Francisco.
Apparently B of A (which I have nothing good to say about) does plenty of business with the firearms industry. Something smells funny here.
http://www.snopes.com/politics/guns/bankofamerica.asp
Our medical practice had been a coustomer of B of A since 2001, but right after the imposter was inaugurated, we needed to renew our Line of Credit, like we did every two years. Well, this time, Bank of America wasn’t interested in our business. They basically told us to move our business elsewhere. We don’t have anything to do with guns or the 2nd amendment, just a small medical practice. I have not stepped foot in a B of A since 3 years ago. They can drop dead.
Tough **** BOA. I am cancelingy checking acct., savings acct., and movung my money market fund, all to another bank. I hope mabny thousands of you customers do the same
JW.
Anyone that thinks the current admin didn`t have something to do with this is just plain uninformed.I wanted to say stupid but that wouldn`t be PC and the liberal plants on this site would be upset.I belong to many sites and the Knuckleheads are on every site.Constantly starting a big discussion out of an issue that only bears some personal thought on a subject.Just beware and don`t fall for the trap.Lets stay on point, hitting the target with the smallest group.
Yeah. That 250 million deal BofA just inked with Freedom Group is totally a liberal conspiracy.
we will be pulling all of our accounts asap.
They tell McMillan to take a hike but have no issue at all with any other “amoral” company in existence. This is utterly absurd. Bank of America should change it’s name to Bank of Liberalism and make it’s politics known.
Hell, if the NRA started a bank, I’d be a charter customer…
BofA was also the bank that refused to put small American flags in front of one of their branches in NC on the day of observance of Sept. 11th. This was 2 years ago. Branch was severely reprimanded and I almost pulled my accts then, but this one does it. I’m outta there! I’m going to find a bank that when you call cust.rel, you don’t have to ‘push 1 for English’.