Bank of America told McMillan Group International –the corporation responsible for McMillan Fiberglass Stocks and McMillan Firearms Manufacturing–late last week that their business was no longer welcome with the nation’s leading financial institution.
Director of Operations Kelly D. McMillan said his company had been doing business with Bank of America for the last 12 years and has never been late on a payment or bounced a check. The debt outstanding on the company’s line of credit was at 61 percent as of Friday.
What could be the reason for Bank of America to make such a move? The answer: McMillan makes guns.
Bank of America, a company that received $20 billion in the federal bailout from the U.S. government in 2009, has been rumored to have anti-gun business policies for years. The National Rifle Association (NRA) launched an investigation in 2010 after “information from a few members surfaced detailing some problems that firearm-related businesses were having with Bank of America.”
It appeared back then that BoA was denying banking services to businesses that were associated with guns, but Senior Vice President Douglas K. Bland told NRA-ILA in a written statement that “Bank of America does not have a corporate-wide policy to deny banking services solely on the applicant’s involvement in the firearms industry.”
