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Neal Barton's POV

Time to find a new bank?

POV

POSTED: Tuesday, April 24, 2012 - 6:50pm

UPDATED: Wednesday, April 25, 2012 - 10:11am

McMillan Group International is an American company that primarily makes accessories for firearms.

Recently, the company decided to manufacture firearms full-time.

They've been with Bank of America for 12 years.

Recently, They went to have a talk with their banker like many of you who own your own companies do.

During the meeting the conversation went south.

The entire McMillan side of the story is all over the web and the McMillan Facebook page. They say things turned south when their banker from BOA acted disinterested in the conversation.

Mr. McMillan finally said and I paraphrase "you really aren't interested in doing business with me anymore because I want to go full-time in to firearms?"

McMillan said the banker said that was true. McMillan says he thanked the BOA banker and said soon they would find another bank.

He also told the banker "we'll see how the NRA and other gun groups like your decision."

According to McMillan, the BOA banker cooly said, " you have to do what you have to do."

Well, this storm has hit Facebook and now gun supporters are up in arms.

BOA now says doing something like this goes against their corporate principles, but from what I've seen so far, Bank of America has yet to come out and deny this ever happened.

If this is true, I think the Bank of America is out of bounds with this.

That's my point of view, what's yours?

You can email me at pov@ketknbc.com

Comments News Comments

Wait, I thought we wanted businesses to be able to run their business without a bunch of rules regulating, among other things, who they had to conduct business with? So now, you're giving BOA flak because they made a choice not to extend a loan to a company, for whatever reason? What's ironic is that if BOA had extended a loan to a company for the purposes of, oh I don't know, let's say solar energy, you would have had something to say about that choice too. Bottom line, their choice.

Bank of Meximerica is completely within their rights to deny service to anyone they choose. They are a business, and must make their own business decisions. However, it is not very wise to alienate a large portion of your customer base. I won't bank there since they stopped requiring ID to open bank accounts in the 90's (providing an incentive for illegal immigrants).

As soon as I can get a new home loan with another bank I will!!!!

It is time to support those that support American values and traditions with your patronage.

I have made it clear that the Federal Reserve has been, and is involved in monopoly building. A tool for creating monopolies is control of all banks, this the Federal Reserve did by buying legislation which not only crashed our economy (housing affordability act) and banking lithmus tests which few banks could pass, many we learned later received secret Fed Res loans to do so. Now, only those businesses approved by the Federal reserve will be able to receive financing -a takeover you never saw.

BoA is an individual company. It has the right to say they choose not to do business with someone.

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