Well, well, well. Looks like their gun control blather just cost them a huge contract. Here’s the 411…
Maybe they should’ve stayed in the banking business instead of wading into public policy.
Just a thought.
Louisiana officials made their stance clear on the actions of Citigroup and Bank of America’s policies restricting gun sales and manufacturing by their commercial clients.
The State Bond Commission voted 7-6 to not allow two of the nation’s largest banks to work as underwriters on an interstate highway financing contract.
The deal is worth $600 million to be paid back over 12 years and would pay for the widening of Interstate 10 in Baton Rouge, a new exit from Interstate 20 into Barksdale Air Force Base and an I-10 interchange to serve a new terminal at the New Orleans airport.
The effort to ban the banking giants from the borrowing transaction was led by Attorney General Jeff Landry and Treasurer John Schroder, both Republicans, and opposed by Democratic Gov. John Bel Edwards’ administration.
Those pushing to exclude Bank of America and Citigroup from the financial work said by enacting firearm restriction policies for their corporate customers, the banks were violating Second Amendment rights.
“You’re in the banking business. Why have you all decided to enter the policymaking business?” asked Rep. Blake Miguez, an Erath Republican and competitive shooter.
The banks shot back saying that they don’t believe that their policies infringe on Second Amendment rights.
In March, in response to a deadly high school shooting in Florida the previous month, Citigroup announced it would end relationships with retailers and clients that sell firearms to people who haven’t passed a background check or that don’t enact restrictions on gun sales to people under the age of 21. The bank also will not allow its customers to sell rapid-fire devices known as bump stocks and high-capacity magazines.
Bank of America said it will stop doing business with manufacturers of “certain military-style firearms for non-law enforcement, non-military use.”
Source: The Virginian-Pilot
So, they’re going to dictate to customers how to run their legal business?
No, thank you. I’ll have none of that.
Maybe banks just shouldn’t be in the business of virtue signaling and jumping on the bandwagon for activist political causes, and should just, you know, do what banks do.
Now there’s a thought.
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