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

[Del_Gue]

Here's another company I'm done with: http://thehill.com/policy/finance/banking-financial-institutions/382521-bank-of-america-will-stop-lending-to-assault

Wonder if Sig and Colt are on the list--I'm sure the Russians would like to hear that!

[bulls]

[Sawin]

Hate to be the bearer of bad news, but Colt went bankrupt 3 years ago.

[CoGirl303]

I quit using them after they acquired Boatmen's. They had all these exorbitant fees for everything and anything when I was in the Army 16 years ago. BOA has always been a joke since day 1.


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[TheGrey]

Yeah, BOA has always been the poster child for screwing their own clientele. God help you if you have a mortgage with them.

[68Charger]

They should be forced to change their name....

Bank of California fits their politics, they'd probably be proud of it
Bank of Atrocities has a nice ring, and they can keep all their literature marked BoA

There was a marketing scheme to illegal immigrants a while back- likely because they could get horrendous interest rates- "what flight risk?"

I think I had a loan with them once when it was sold to them... they had to honor the terms of that loan, but tried like hell to rope me into other BS...

[Gman]

Hate to be the bearer of bad news, but Colt went bankrupt 3 years ago.Only the military contract side of Colt. This was in 2015 after losing their rifle contracts to FN in 2013. Their consumer side is still chugging along.

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[BPTactical]

Yeah, BOA has always been the poster child for screwing their own clientele. God help you if you have a mortgage with them.

I thought that was Wells Fargo....

[izzy]

Ahhh crap, this has technically been my bank for 20+ years. My first bank account was Bank Of Boston ... was purchased by Fleet who was then purchased by BOA. Thinking of changing to the Bank of Under My Mattress.

[.455_Hunter]

Thinking of changing to the Bank of Under My Mattress.

The Bank of Under My Mattress offers competitive interest (0% vs .1%), no fees, friendly staff, 24/365 access and no social consciousnesses crap.

[UrbanWolf]

They’ve been doing this and make anti-gun public stuns for a while now.

[mattiooo]

Yeah, BOA has always been the poster child for screwing their own clientele. God help you if you have a mortgage with them.

I know that first-hand. I didn't get a mortgage with them but now I have one with them. Bastards bought out my mortgage company. I really need to refinance with another company.....

[Gman]

Bastards bought out my mortgage company. I really need to refinance with another company.....
Unfortunately mortgages get passed around like the only lighter in a crack house. Just when you think you're with another company, it ends up back at BOA.

[MrPrena]

Wow. After Credit Default Swap Default on their face and sub prime mortgage issues, these turds went starving mode to too much lobster picking.
" I want this lobster in my stomach, but not that one."

[TheGrey]

I thought that was Wells Fargo....

Both of them have done so. Banks generally suck across the board.

[Del_Gue]

Hate to be the bearer of bad news, but Colt went bankrupt 3 years ago.

Nope...Colt Defense is still in business, and so is Colt's Manufacturing Company!

"In 2013 Colt Defense acquired New Colt Holding Corp., parent company of Colt's Manufacturing Company LLC, forming a single company to develop, manufacture and sell firearms under the Colt name for all markets. On 15 June 2015, Colt Defense filed for bankruptcy, citing both assets and debts in the $100 million to $500 million range. In January 2016, Colt Defense announced that the bankruptcy court had approved its restructuring plan."

[Justin]

Unsurprising. Expect to see more of this in the not too distant future.