Update: Bank of America did not end up backing out of the Remington loan, claiming it faced potential legal action and damages if it did so. The bank has now sold its interest in Remington Outdoor Co., however, and met with the surviving students and parents of the mass shooting at Marjory Stoneman Douglas High School to assure them it will cease doing business with manufacturers of assault weapons for civilian use. BofA also contributed $50,000 to the Broward Education Foundation’s Stoneman Douglas Victims Fund.
Sadly, Bank of America is preparing to provide financing to Remington just weeks after announcing it would stop doing business with manufacturers, distributors and sellers of assault weapons like the AR-15. The bank said it would no longer be underwriting or financing these companies, but Remington makes AR-style assault rifles.
Bank of America is helping to throw Remington a critical life-line after the gun-maker filed for bankruptcy in February 2018. BofA is contributing $43.2 million to a $193 million loan funded by seven banks for the purpose of putting Remington back on stable footing.
This is a clear violation of the bank’s promise to stop doing business with companies that make and sell assault rifles.
Please contact Bank of America through one of the channels below and give them the following message (personalized to your liking):
Please pull out immediately from your role in financing a $193 million loan for Remington. This is a clear violation of your promise to cease doing business with companies that make and sell assault rifles, including AR-style rifles. Not long ago I was contacting you to thank you for doing the right thing and telling family/friends about your moral decision to extricate yourself from this dirty business. Please don’t make me regret that and educate them about your latest apparent decision. This is not what being a good corporate actor means. You can and should do better for your country, your community, your employees.
Bank of America
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