Wells Fargo bucks corporate gun control by issuing a$40 million in credit to Sturm, Ruger, & Co. While the other banks are losing money with their Corporate protests, Wells Fargo is making the cash.
Imagine that. Wells Fargo is on the good side for once. Wells Fargo is trying to gain back customers it lost after making all those fake accounts in their names to charge more fees. Doing the right thing might help.
May need to switch over to Wells Fargo now.
Wells Fargo Issues $40 Million in Credit to Ruger Firearms and BUCKS Corporations that are trying to force more stringent Gun Control.https://t.co/GBYsg319lt
— Trail Bum (@TrailBum2) October 8, 2018
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. More
Wells Fargo & Co. is doubling down on the gun industry, undaunted by criticism of its deep ties to firearm companies and the National Rifle Assn.
The San Francisco bank issued a $40-million line of credit last week to gun manufacturer Sturm, Ruger & Co., according to financial filings. That’s on top of the $431 million in debt that Wells Fargo has arranged for gun makers since December 2012, when the Sandy Hook school shooting escalated the gun control debate. No other bank lent more to the industry over that time, according to data compiled by Bloomberg.
The new debt, issued to one of the world’s largest publicly traded gun makers, came as a big surprise to at least one group: nuns who had been talking to Wells Fargo about corporate-responsibility issues. On Sept. 26, the day before the debt agreement was issued, they met with the bank’s business-standards employees in New York. More
That’s great news Wells Fargo! I’m proud to do business with a great patriotic company who loves our 2nd Amendment. Oorah!
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