NSSF is the trade association for America's firearms industry.
Our mission: To promote, protect and preserve hunting and the shooting sports.
NSSF is the trade association for America's firearms industry.
It's mission: To promote, protect and preserve hunting and the shooting sports.
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Update on Bank of America Allegations

In response to recent allegations that Bank of America has an anti-firearms industry policy, NSSF investigated the allegation, including contacting the Bank of America to insist on a response from them to the allegations that it has a corporate policy of not doing business with members of the firearms industry. As we noted in our original statement on this matter, we are aware that many members of our industry had longstanding banking and business relationships with the Bank of America and had reported to us that they had not encountered any problems with the bank due to the fact that their business was in the firearms industry. In a May 2, 2012, reply, the Bank of America said that though it could not comment on its relationship with customers, the company has not made changes to its policies. “I want to assure you and your organization that we do not have a policy that would deny banking services to entities because they are in the firearms industry,” wrote Anne G. Pace of Bank of America.

Read the complete letter.

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10 Responses to “Update on Bank of America Allegations”

  1. Kirk Parker

    That letter is quite insufficient.  Yes, it’s perfectly understandable that they can’t comment on particular customers and their relationship with BoA, but they absolutely could say, “The person who made this particular customer-hostile decision is no longer a BoA employee.”  That would mean something!

  2. 3006al

    Bank Of America’s key word in the above is “we don’t have a policy —.”  They probably don’t have such a policy; however, that doesn’t prevent them from tacitly denying services to gun businesses.  The gun organization that reported this would agree.  BoA didn’t comment on this and won’t .  I don’t believe the!

  3. Spook89

    Very inadiquate attempt at “tap dancing” their way out of this situation they’ve placed themselves in. Not convincing.

  4. TRW077

    I have a large sum of money invested with BOA and as of today I am in negotiations with them about investing in Remington,Ruger,Savage and S+W.Will comment after negotiations are thru.

  5. Dkentphemister

    I wrote a personal B of A check to a friend that did some contract work for my business. Since his divorce he has no bank account and no credit cards. My check was for $400. The teller ask him for 2 forms of  ID. He presented his TX DL and his concealed handgun license ID with photo. His CHL was turned down as a valid ID and they refused to cash my check I had written him. The CHL is a picture ID that has gone through an FBI background check…they would not accept it as a form of ID. Go figure….seems to fit the profile. I’m not a big cash person but I’m moving 20K to another bank. 

  6. Dan

    funny thing is, they probably would have accepted a Matricula Consular card that illegal aliens use for ID. Wells Fargo always demanded 2 forms of ID, but they would accept that Matricula Consular as one of them. I closed my account.

  7. Aftermath Gun Club

    If I use my BoA card at a gun store, where I also happen to work, they shut off my card. Every single time. If I drive across country and use it at gas stations, nothing, no “suspicious use” flags. I am doubly disappointing because it is a Second Amendment Foundation card.

  8. Anonymous

    go over to Volquartsen Custom on facebook and you can see a letter they posted about an actual B of A VP stating they(Volquartsen Custom)  would no longer be welcome at B of A after some 12 years because they were now considered firearms manufacters instead of just selling firearms accessories. They give the guys name as well as the comments he made. As a result Volquartsen Custom is no longer taking B of A credit cards. Something is wrong here. I believe B of A is trying to stem the tide of us who support our 2nd amendment right from leaving their bank. My Husband along with 2 partners have a small company and after I told them about BoA they all 3 decided not to ever use BoA for anything. Also not to accept BoA cards. They are going to post it clearly on their website. Makes me proud of them all over again 🙂 Volquartsen Custom by the way has some fantastic guns. Just beautiful. And no, I’m not with that company in any way. Just a big fan.

  9. Anonymous

    excuse me, the company dropped by BoA was McMillan Firearms Manufacturing, not Volquartsen Custom. Volquartsen was just sharing the info. Sorry for the mix up. This is not an isolated incident. BoA has it out for gun owners, manufacturers, lovers or however you relate to guns. Sounds pretty unAmerican to me.

  10. Dcmfirearms (D. Mincey)

    They may not be able to comment on particular customers but I surely can. I own a firearms related business, my account was with BOA. I inquired about a line of credit or loan in March and I was told by their representative that my business falls under their “prohibited” lending list. (the premise of my asking was primarily for our operating budget and training) If that doesn’t suggest they are anti-firearms I am not sure what does. It just took a larger business like McMillan to bring their practices to light – which is a good thing. I stopped banking with them after the incident in March. 
    Based on my experience – that letter is definitely insufficient and they are lying to try and cover the fact that they do indeed have issues with supporting a business in the firearms industry.