Bank of America will cease providing lending services to companies manufacturing certain types of firearms.
As reported by Bloomberg, Bank of America, the second-largest bank in the US, will no longer lend to firearms manufacturers involved in selling semi-automatic rifles deemed “military-style” to the civilian populace. This comes after a wave of pressure on banks and payment providers to restrict their services provided to firearms manufacturers in the wake of recent highly-publicized shootings. Increasing financial pressure could cause manufacturers to cease production of controversial items or risk harm to their business.