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Bank of America and the 2nd amendment.

Discussion in 'General Gun Discussions' started by Bojangles7, Apr 20, 2012.

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  1. Bojangles7

    Bojangles7 Member

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    Read this on another forum I visit and thought it should be posted here. If you bank with Bank of America, you may want to reconsider.


    McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group
    International have been collectively banking with Bank of America for 12
    years. Today Mr. XX YY, 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 YY 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 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 cannot 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
    623-582-9635
    1638 W Knudsen Dr
    Phoenix, Arizona 85027
    McMillan Integrity-Global Vision



    MOD NOTE: Confirmed via emai
     
    Last edited by a moderator: Apr 20, 2012
  2. Murphy4570

    Murphy4570 Member

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    Good for them. Shun them.

    I bank with a local credit union myself. It is sort of like Cheers, everybody knows everybody.
     
  3. R.W.Dale

    R.W.Dale Member

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    Right now without substantiation this reads just a little too neat to pass my smell test
     
  4. rbernie
    • Contributing Member

    rbernie Member

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  5. CSestp

    CSestp Member

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    WIN!! Well not win, but good for you to stick it to BoA. Sorry for the trouble this could cause you. I am glad to hear you not accepting a product, service, or in this case credit/debt card that goes against your morals.
     
  6. murphys_law

    murphys_law Member

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    Wow wrong move for ANY business. I wont be banking there, and will make sure I tell everyone I know not to as well.
     
  7. Hk Paul

    Hk Paul Member

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    I dumped BofA when they wanted to charge customers for the privilege to use their own debit card. I don't miss them!
     
  8. 95XL883

    95XL883 Member

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    Just an fyi. BOA also owns Merrill Lynch.
     
  9. AlexanderA
    • Contributing Member

    AlexanderA Member

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    How about an official statement from Bank of America rather than mere hearsay? One representative's verbal statements (to someone who's openly confrontational, at that) do not bind the institution. I'd be very surprised if a business as large and far-reaching as BoA would be willing to alienate a significant portion of its clientele for some narrow political purpose. Large businesses tend to avoid politics. (Even ebay's antigun policies can be seen as self-protective and not political. BoA would not have that excuse.)
     
  10. Yo Mama

    Yo Mama Member

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    I doubt they would want to make an official statement without media pressure, ....which I see none.

    Also, who says gun owners/manufacturers are a significant portion of their clientele?
     
  11. hso

    hso Moderator Staff Member

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    Anyone want to email McMillan and find out if this is factually accurate?
     
  12. Ragnar Danneskjold

    Ragnar Danneskjold Member

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    There's a lot of reasons not to use Bank of America. This is just one more on a long list.
     
  13. Rail Driver

    Rail Driver Member

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    hso: I'll email both McMillan and BofA after lunch and reply here with their responses as I get them.
     
  14. CoRoMo

    CoRoMo Member

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    They carry the note of my property. Dang.

    But one question... One of McMillan's customers places an order and sends them a Visa card number. McMillan runs the card through their electronic means to charge for the order. How would McMillan know if the Visa card number they run was issued through a BoA branch?

    I do this everyday. I use card numbers to complete my customers' transactions. I have nothing here showing me the issuing bank, just the cc company.
     
  15. RCArms.com

    RCArms.com Member

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    I have heard rumors that there are CC processing companies that have singled out firearms related vendors and cancelled their vendor accounts. CDNN in Texas recently experienced this and moved to a new merchant account for CC processing.

    If a merchant account provider chooses to cease business with one of their clients, that's their right in an at-will type relationship. Not sure why they would not want to collect the fees for processing simple credit card transactions, but it is what it is.

    CDNN quickly shifted to another merchant account and it was business as usual for them. The only looser was the merchant account provider that elected to cease their relationship with a firearms business. They lost the percentage they charged CDNN to process every CC transaction as well as the monthly service and accessorial fees. Not sure what kind of monthly revenue they chose to walk away from, but it's not a very smart business decision at all.

    Don
     
  16. GojuBrian

    GojuBrian Member

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    These communists are in BO's pocket....no wonder.
     
  17. Ryanxia

    Ryanxia Member

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    Local credit unions are the way to go.

    I still have one account at BofA that I'm closing once I'm done with it. I've never noticed any no-firearms sign on their front door. I'm surprised they would go this far just to not do business with a legal company in good standing.
     
  18. RCArms.com

    RCArms.com Member

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    I went with a Merchant Account through my local bank (2 branches at the time).

    I asked at the time I set it up if they had any problem with processing credit card sales for a Firearms Dealer. Their answer was "do your customers pay you with green money?...No Problem, do you have any other questions this afternoon?"

    I've been with them ever since and it would take A LOT to get me to even look at moving to another merchant account provider.
     
  19. mrcooper

    mrcooper member

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    I used BOA several years ago and on 2 dealings they both were bad,:cuss::cuss: i stoped using them back in the 70s no regret. :neener::neener:
     
  20. Paris

    Paris Member

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    There are million reasons to avoid BoA at all costs, this is simply another to add to the long list of grievances. :)
     
  21. 95XL883

    95XL883 Member

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    In a company as large as BOA, it can be quite difficult to know what is and isn't official policy. (A policy likely to be controversial will commonly be kept quiet on purpose.) I will be surprised if Rail Driver gets any response from BOA, but I hope he does.

    My non-gun experience with Merrill Lynch (a BOA subsidiary) was they demanded personal information from non-customers as a "requirement" to releasing a customer's monies. They repeatedly cited The Patriot Act and FINRA regulations as requiring the information. When they finally provided a specific citation, their claim was quickly exposed as totally unsubstantiated. Under threat of litigation, they eventually relented, complying with their customer's directive to liquidate the account.

    My point is it was impossible to tell if their actions were directed from corporate headquarters or were directed by a "loose cannon" local person. Either way, the effect was the same. They lost an account and damaged their reputation with their client and the client's relatives.

    Even if the McMillan incident is confirmed by McMillan, it will be difficult to know if that is a corporate policy versus a local policy. Either way, the effect will be the same. BOA could lose customers because of it.
     
  22. 95XL883

    95XL883 Member

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    Wow! I just sent email and received a response from McMillan. The incident is true. McMillan asks the BOA employee's name be redacted. (Moderators. I request that you remove the BOA employee's name from the original post. Thank you.)

    Below is the McMillan response:


    The statement posted on the McMillan Group International Facebook page is exactly as it happened and accurate. I would ask that you redact the gentleman’s name but leave his title if you repost the statement. Thank you for your support.

    http://www.facebook.com/McMillanGroupInternational

    Kelly D. McMillan
    Director of Operations
    McMillan Group International, LLC
    623-582-9635
    1638 W Knudsen Dr
    Phoenix, Arizona 85027
    McMillan Integrity-Global Vision
    www.mcmillanusa.com

    Become a fan of McMillan on facebook
    http://www.facebook.com/McMillanGroupInternational
    ________________________________________
    From:
    Sent: Friday, April 20, 2012 11:19 AM
    To: Kelly McMillan
    Subject: Bank of America

    Hello, there are multiple reports on the internet that Kelly McMillan was told by Xxx xxx of Bank of America that the bank was ceasing to provide lending to McMillan because McMillan is a firearms manufacturer. There is uncertainty that these reports are accurate. Can you confirm or deny the accuracy of the reports? Thank you.

    PS. I am a firearms owner and active target shooter. I support the Second Amendment and the obviously stated right of individuals to keep and bear arms. Again, thank you.
     
    Last edited: Apr 20, 2012
  23. Rail Driver

    Rail Driver Member

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    I got a similar response from McMillan, but as yet no response from BofA. Pretty much as expected.
     
  24. Kernel

    Kernel Member

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    BOA stock tanked today. Good, that'll teach'em.
     
  25. JustinJ

    JustinJ Member

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    Unless BOA is advocating gun laws i don't see their refusal to work with gun makers as a 2nd amendment issue. If i stop buying a magazine because I don't like what they are saying that doesn't make it a 1st amendment issue.
     
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