|
Forum Rules | Firearms Safety | Firearms Photos | Links | Library | Lost Password | Email Changes |
Register | FAQ | Calendar | Today's Posts | Search |
|
Thread Tools | Search this Thread |
March 16, 2010, 01:01 PM | #1 |
Junior Member
Join Date: March 16, 2010
Posts: 3
|
Bank of America takes a stand against gun businesses
A bit about Bank of America. They are again showing their anti-gun tendencies. I was recently refused a line of credit by BOA. I had hopes of growing the business with the benefit of the bank that I have had a lengthy and substantial relationship with.
I was simply floored when I was told by the Bank of America credit analyst that I was being denied credit due to the "nature of my business". It seems that Bank of America after viewing my web store made a determination that underwriting businesses that sell quality weapons accessories is a violation of corporate policy. I have since been told by BOA representatives that my sort of business fits into an undesirable category of business entities that include online adult entertainment and payday check cashing establishments. Yes, their exact words. They can't seem to appreciate that my business is recorded with the GSA's Central Contractor Registration as well as Dunn & Bradstreet. Most of the items that I sell are currently listed in the GSA advantage catalog and made available to state and local governments as well as all Federal agencies. My local branch was eager to open a business account with the full knowledge that I sell weapons accessories. At the time I opened my business account no such policy seemed to be in place. Now they are scrambling to find out what Corporate Bank of America is up to. If you are having similar difficulties with BOA mention it here and notify me as well. I have asked for NRA help with this and also requested that the Second Amendment Foundation cease their business dealings with BOA. They currently offer BOA investment products on their homepage. -Rich |
March 16, 2010, 01:11 PM | #2 |
Senior Member
Join Date: October 19, 2009
Location: Western North Carolina
Posts: 451
|
Incredible.
__________________
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety - Benjamin Franklin Light is faster than sound. This is why some people appear bright unitl you hear them speak! They should have stopped with "Congress shall make no Law... |
March 16, 2010, 01:22 PM | #3 |
Moderator Emeritus
Join Date: June 25, 2008
Location: Austin, CO
Posts: 19,578
|
Seems easy enough....
Simply end the "lengthy and substantial relationship" and use another bank.... and be very vocal about it. Talk to the local manager, any VP that you can get in touch with, write them a letter and send it to your local branch and headquarters. Detail your history, tell them how much money they've made from you and how they're not going to make another dime. It likely won't change anything, and I'd close business with them even if they offered at this point, but you'll get your displeasure across effectively. I quit using BoA years ago and never will again.
__________________
Nobody plans to screw up their lives... ...they just don't plan not to. -Andy Stanley |
March 16, 2010, 03:29 PM | #4 | ||
Senior Member
Join Date: January 8, 2001
Location: Forestburg, Montague Cnty, TX
Posts: 12,717
|
Quote:
Quote:
While you may have had a long history helping support an anti-gun bank like BOA, I don't know why you think they would be willing to support your type of business for which they have a long history of not supporting. You knew about their anti-gun position and there are threads on this forum that mention it, not that you probably ever spent much time here until you wished to complain that you weren't given a line of credit. http://www.thefiringline.com/forums/...ubs+gun+stores http://www.thefiringline.com/forums/...ank+of+america http://www.thefiringline.com/forums/...ank+of+america http://www.thefiringline.com/forums/...ank+of+america Heck, a quick internet search would have turned up lots of hits about BOA and their anti-gun perspectives. Maybe if you would have taken the time to do a little research about your potential lender, you might have lost the naive perspective that somehow BOA was going to treat you differently and go against it long standing policy and then you would not have had to suffer the blemish of having your line of credit rejected.
__________________
"If you look through your scope and see your shoe, aim higher." -- said to me by my 11 year old daughter before going out for hogs 8/13/2011 My Hunting Videos https://www.youtube.com/user/HornHillRange |
||
March 16, 2010, 03:42 PM | #5 |
Senior Member
Join Date: August 16, 2007
Posts: 2,153
|
Double naught, I wouldn't disagree, but why take this tone with a fellow member? I just don't see the reason for it. Either take his post for the information or confirmation it provides, or just leave it alone. We have enough opposition in the world. How does it serve our purpose to turn on our own? There is way too much of this in our community, IMO.
|
March 16, 2010, 03:45 PM | #6 |
Senior Member
Join Date: November 17, 2000
Posts: 20,064
|
Let's see if we get another post by the OP after this one. If we don't, then it's probably just a blast across a myriad of fora.
__________________
NRA, TSRA, IDPA, NTI, Polite Soc. - Aux Armes, Citoyens |
March 16, 2010, 03:55 PM | #7 | |
Senior Member
Join Date: September 11, 2008
Posts: 1,931
|
I stopped with them about 2 years ago over a different policy. Didn't affect me per se, but I just thought it was bad business. A shame because my father was a senior vice president back in the day, from Virginia National, thru Sovran, who is now BOA. Back when bankers were stodgy bird hunters and being fiscally responsible was part of the job or your job was gone.
I didn't realize they had also become anti gun but I guess it's to be expected lately. He must be rolling in his grave, I remember the savings and loan warnings before that one hit the fan....
__________________
Quote:
|
|
March 16, 2010, 04:08 PM | #8 |
Senior Member
Join Date: July 5, 2006
Location: Arkansas
Posts: 179
|
WOW! Just WOW! Using that type of specific language in THIS economy will be their death. That is terrible business sense.
Oh well...banking is too competitive to stand for that crap. Go elsewhere and quickly. THEY deserve 0 of any lay abiding gun owners hard earned money.
__________________
Chris Peters Metaloy Industries, Inc. www.originalmetaloy.com The 'Original' Hard Chrome finish TactiKote finish Visit the Metaloy Blog http://metaloyindustries.typepad.com/ |
March 16, 2010, 04:21 PM | #9 |
Junior Member
Join Date: March 16, 2010
Posts: 3
|
I'm pretty thick skinned, and 00SPY is essentially correct. I did not learn about Bank of America's anti-gun position until after they denied me services. I am now becoming very outspoken to prevent future occurrences.
|
March 16, 2010, 04:51 PM | #10 |
Senior Member
Join Date: July 26, 2005
Location: The Bluegrass
Posts: 9,142
|
As you can see by my post count, I post on the forum on a fairly regular basis. This is the first I can recall hearing about Bank of America. It's easy to miss the occaisonal thread on these things.
|
March 16, 2010, 04:57 PM | #11 |
Senior Member
Join Date: September 9, 2008
Location: Fredericksburg, VA
Posts: 958
|
No one told me that Bank of America was anti gun...
Guess I'll have to start looking for another bank. Only problem is, Bank of America seems to be the only bank I've seen in the area that doesn't have a no-gun sign on the door. Oh the irony...
__________________
And it's Killer Angel... as in the book |
March 16, 2010, 05:15 PM | #12 |
Senior Member
Join Date: May 27, 2006
Posts: 2,313
|
Not only is BofA anti-gun, but they are just bad people. The company my wife works for was bought by BofA during the crash. everything has gone downhill, benefits are less and cost much more. In fact, with 20++ years at her job, she is being treated as a "new" employee.
__________________
The past is gone...the future may never happen. Be Here Now. |
March 16, 2010, 06:10 PM | #13 |
Senior Member
Join Date: September 26, 1999
Location: Wyo-Tana
Posts: 1,298
|
BoA, the house of god. $$$ Countrywide Financial. $$$ Angelo Mozilo. 'nuf said. :barf:
Evil on more than RKBA.
__________________
Remember, many times what we view as a curse in the present turns out to be a blessing in the future. Don't worry about it a lot. Things have a way of working out. Trust me on this one. - - Uncle Bill Martino |
March 16, 2010, 06:43 PM | #14 | |
Senior Member
Join Date: January 8, 2001
Location: Forestburg, Montague Cnty, TX
Posts: 12,717
|
Quote:
So while my point was directed at AZarmament, it wasn't just for AZarmament. Five minutes of internet searches can reveal a lot about many companies. That probably would have been less time than it took to fill out his applicaiton with BOA for a line of credit. Why people don't bother making better use of the internet before they get screwed or inconvenienced is beyond me, but maybe by pointing out AZarmament's folly, a few more people will get a clue and not go down the same road...with BOA or with any other company. Now because he feels like he has been mistreated by BOA, AZarmament is going to invest lots of time fighting BOA...time that likely could be better spent trying to make his business better. All the inconvenience and all of the time that he is now going to invest in this cause (that he would not have otherwise invested in fighting BOA or any other company) could have been bypassed with a simple internet search.
__________________
"If you look through your scope and see your shoe, aim higher." -- said to me by my 11 year old daughter before going out for hogs 8/13/2011 My Hunting Videos https://www.youtube.com/user/HornHillRange |
|
March 16, 2010, 07:11 PM | #15 |
Senior Member
Join Date: August 16, 2007
Posts: 2,153
|
Double Naught, more of the same judgmental, useless commentary. Why? Why is this how we welcome a new member?
Last edited by maestro pistolero; March 16, 2010 at 07:25 PM. |
March 16, 2010, 07:14 PM | #16 | ||
Senior Member
Join Date: May 24, 2005
Location: North Carolina
Posts: 2,903
|
Quote:
Quote:
|
||
March 16, 2010, 07:31 PM | #17 |
Junior Member
Join Date: March 16, 2010
Posts: 3
|
Thanks gc70, that is interesting and perhaps useful.
|
March 16, 2010, 07:40 PM | #18 |
Senior Member
Join Date: May 24, 2005
Location: North Carolina
Posts: 2,903
|
Sometimes the business groups in a large company pursue very different business strategies.
Good luck with your business financing, AZarmament. |
March 16, 2010, 08:22 PM | #19 |
Senior Member
Join Date: September 29, 2008
Location: Oregon
Posts: 2,346
|
Perhaps BofA would have approved your request if your business charged exorbitant fees, catered to illegal aliens, and could rely on the federal government to bail you whenever you made stupid business decisions.
I freed myself of the BofA stink two years ago in favor of a local CU. Life is so much more pleasant.
__________________
"The ultimate authority ... resides in the people alone. ... The advantage of being armed, which the Americans possess over the people of almost every other nation ... forms a barrier against the enterprises of ambition." - James Madison
|
March 16, 2010, 08:26 PM | #20 |
Staff
Join Date: April 13, 2000
Location: Northern Virginia
Posts: 41,390
|
I agree, Maestro.
Double Naught, I suggest you take a deep breath and suck up the plume of overwrought pissitude that you have spewed and, in the future, keep it in check.
__________________
"The gift which I am sending you is called a dog, and is in fact the most precious and valuable possession of mankind" -Theodorus Gaza Baby Jesus cries when the fat redneck doesn't have military-grade firepower. |
March 17, 2010, 12:17 AM | #21 |
Senior Member
Join Date: February 15, 2009
Location: Kodiak, Alaska
Posts: 2,118
|
And my wife wonders why I love USAA so much...
I closed all of our other bankings/investments/insurance/etc. when I joined the Coast Guard and switched it all to USAA. They save me around $700 a year in homeowner, renter, and vehicle insurance alone.
__________________
"To preserve liberty, it is essential that the whole body of the people always possess arms, and be taught alike, especially when young, how to use them." -Richard Henry Lee, Virginia delegate to the Continental Congress, initiator of the Declaration of Independence, and member of the first Senate, which passed the Bill of Rights. |
March 17, 2010, 01:57 AM | #22 |
Staff In Memoriam
Join Date: October 31, 2007
Location: Western Florida panhandle
Posts: 11,069
|
While I am far from a "big time deep pockets sort of fella, I fell from the clutches of big banks around 1989...
Including BoA, I had had it with the growing monthly fees of loaning money to a bank. From the first day i did business with a local independent bank I have been happier. For the last 10 years or more, it has been small CU's. I can't understand why so few folks find it insane to pay a fee every month to loan a bank their money to use. Now i find one I banked with and dumped is anti gun... Brent |
March 17, 2010, 07:07 AM | #23 |
Senior Member
Join Date: June 21, 2009
Location: West Central Missouri
Posts: 2,592
|
I hope you also stop accepting credit cards and checks issued by/thru BofA.
I am with Brent on this. I will continue to use local banks and credit unions, because I can. I have switched banks before because they were bought out by bigger banks. None of them have probably missed my money, but for me it is a principle thing. Good luck to you.
__________________
Inside Every Bright Idea Is The 50% Probability Of A Disaster Waiting To Happen. |
March 17, 2010, 08:24 AM | #24 | |
Senior Member
Join Date: January 8, 2001
Location: Forestburg, Montague Cnty, TX
Posts: 12,717
|
Quote:
Do you take the fight to the extreme of not accepting BOA credit cards at the risk of alienating customers and losing business, which will result in a loss of income and potentially resulting in a loss of the business? In other words, do you extend your fight with BOA to being a fight with your customers who may have a BOA credit card, telling them that you don't want their money if they are going to pay with BOA credit? That would be a very bad business decision from the standpoint of helping the business to thrive in an already stressed economy where more folks and restriced discretionary income.
__________________
"If you look through your scope and see your shoe, aim higher." -- said to me by my 11 year old daughter before going out for hogs 8/13/2011 My Hunting Videos https://www.youtube.com/user/HornHillRange |
|
March 17, 2010, 08:40 AM | #25 |
Senior Member
Join Date: December 27, 2008
Posts: 1,032
|
Accounts have been closed & moved to another bank.
Thanks for posting AZarmament |
Tags |
anti-gun bank america |
|
|