It took Wall Street a bit longer to respond, but a number of industry heavyweights have jumped into the gun control debate. Last week, asset manager BlackRock revealed it will offer funds free of gun manufacturers and sellers. Citi Group, too, took action recently and is introducing restrictions on its retail clients’ firearm sales–a decision that has drawn the ire of Republican lawmakers.
Now, Bank of America has announced that it will no longer finance manufacturers that make military-style guns like the AR-15. “We want to contribute in any way we can to reduce these mass shootings,” Bank of America vice chairwoman Anne Finucane told Bloomberg.
The bank will, however, continue to work with firearm retailers. “That gets into civil liberties and the second amendment,” Finucane said with respect to cracking down on retailers. “That’s a good public dialogue, but that’s a ways off.”