There are few investor-owned gun makers in the United States. One of them, American Outdoor Brands Corporation, which owns the Smith & Wesson brand, has seen its stock shed half its value in the past year. Another, Sturm, Ruger & Company, has fared much better, dipping only slightly. Both companies make AR-15-style rifles.
For now, Bank of America will continue to offer banking services to firearms retailers. Asking gun shops to stop selling certain types of handguns or long guns “gets into civil liberties” and is “a ways off,” Ms. Finucane said.
Corporations piled into the gun-control debate after a shooting at a school in Parkland, Fla., in February left 17 people dead and fueled a nationwide boycott effort against companies that had become partners with the powerful National Rifle Association trade group. Businesses including car rental companies, airlines, dating apps and Walmart scaled back their exposure to guns.
In March, Citigroup was the first big bank to issue a new firearms policy, requiring clients in the gun industry to stop selling to customers who have not passed a background check or are younger than 21.
Citigroup also bars clients who use its lending, banking or capital-raising services from selling bump stocks and high-capacity magazines.
News credit : Nytimes