Wells Fargo Bucks Corporate Gun Control, Issues $40 Million in Credit to Ruger Firearms

[livingston]

Wells Fargo Bucks Corporate Gun Control, Issues $40 Million in Credit to Ruger Firearms
Wells Fargo bucked corporate gun control by issuing $40 million in credit to Sturm, Ruger, & Co.
Bloomberg reports that the $40 million is on top of $431 million Wells Fargo has issued to gun manufacturers since the December 14, 2012, Sandy Hook attack. This means Wells Fargo is not only bucking the corporate gun control trend in 2018 but has also withstood the firearm divestiture campaign that launched following Sandy Hook.



On April 15, 2018, Breitbart News reported that Wells Fargo stemmed the tide of the push for new financial restrictions on gun makers and sellers by stressing that it is not a bank’s job to set U.S. gun policy. Reuters quoted Wells Fargo chief financial officer John Shrewsberry saying, “The best way to make progress on these issues is through the political and legislative process. In the meantime, Wells Fargo is engaging our customers that legally manufacture firearms and other stakeholders on what we can do together to promote better gun safety in our communities.”
Wells Fargo Bucks Gun Control, Issues $40 Million in Credit to Ruger Firearms

 

[BuellSix8]

Amen to that....

 

[minderasr]

I was considering applying for one of their credit cards. Apparently they will insure your cell phone (up to $600 with $25 deductible) if you setup automated bill pay for said cell phone (details here).

This news seals the deal for me.

 

[Carlos Hathcock]

Guess I found my new bank.

 

[usamerican]

I believed from the outset that Cuomo's conspiracy to starve the gun industry of capital was doomed to failure.

It's not only a legal industry but protected by the constitution and by statute. Banks that turn away gun money are giving up profits to banks that will not. Lots of banks are incorporated in business and gun-friendly states like South Dakota. There's plenty of money outside Manhattan. Besides, the Manhattan money from funds will flow directly into non-NY banks anyway.

Look at all the money seeping into the weed industry and it's still super-illegal under federal law.