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post #1 of 17 (permalink) Old 04-24-2012, 08:04 AM Thread Starter
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Bank Of America - Openly anti-gun

http://www.ijreview.com/2012/04/3990...-manufacturer/


Real douch move.


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post #2 of 17 (permalink) Old 04-24-2012, 08:19 AM
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Thanks Tom, I posted it on FB as well.

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #3 of 17 (permalink) Old 04-24-2012, 08:33 AM
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Pay Pal will also lock/block accounts that are used for gun or accessory sales.

I had my account blocked for two months because I bought some AR-15 mags.

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post #4 of 17 (permalink) Old 04-24-2012, 08:39 AM
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Why?

If Tommy Boy taught me anything, it's that banks tend to be risk averse when it comes to manufacturing - especially new directions that might require capital investments based on flimsy math / fantasy growth predictions in a down market.

Unless you have vetted their financials and ruled out all other possibilities - I think taking this one-sided article as fact is ignorant.

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post #5 of 17 (permalink) Old 04-24-2012, 08:48 AM
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That is a big decision. With the typical hierarchy of banks, curious if this VP has the authority to make such a statement on behalf of BoA.

On another note, I would love to see how the company will not accept BoA issued credit cards.

Greg

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post #6 of 17 (permalink) Old 04-24-2012, 09:12 AM
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Quote:
Originally Posted by Underdog View Post
Why?

If Tommy Boy taught me anything, it's that banks tend to be risk averse when it comes to manufacturing - especially new directions that might require capital investments based on flimsy math / fantasy growth predictions in a down market.

Unless you have vetted their financials and ruled out all other possibilities - I think taking this one-sided article as fact is ignorant.
Really ? Thats your response ? They have been banking with them for 12 years . Enough time to know if they are going to fail or not.

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post #7 of 17 (permalink) Old 04-24-2012, 09:48 AM
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Quote:
Originally Posted by gsd656 View Post

On another note, I would love to see how the company will not accept BoA issued credit cards.
Simple, don't process the credit card BINs that are BoA.

Amex BIN from BOA
377311

VISA BINs from BoA (and purchased banks)
4117
414716
471008-11
4217674
421765
421766
4256
426428 to 29 - Bank of America (formerly MBNA) Platinum Visa Credit Card
426451 to 52, 65 - Bank of America (formerly MBNA) Platinum Visa Credit Card
430536, 44, 46, 50, 94 - Bank of America (formerly Fleet) Visa Credit Card
431301 to 05, 07, 08- Bank of America (formerly MBNA) Preferred Visa & Visa Signature Credit Cards
432624 to 30 - Bank of America (formerly Fleet National Bank) Visa Check Card, Debit
4342 - Bank of America Classic Visa Credit Card
4356 - Bank of America Visa Debit Card
435680 to 90 - Bank of America, Visa, Platinum Check Card, Debit
449533 - Bank of America (USA), National Association - Classic, Debit, Visa

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #8 of 17 (permalink) Old 04-24-2012, 09:53 AM
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Quote:
Originally Posted by STANIMAL View Post
Really ? Thats your response ? They have been banking with them for 12 years . Enough time to know if they are going to fail or not.
Really. In the article it says they started migrating their business from accessories to firearms manufacturing over the last 5 years.

Therefore, what might have looked good in the books for the first 7 years of their relationship - doesn't exist anymore. The trajectory of the last 5 years and future predictions might not look so appealing.

"The new brake pad division is the future of Callahan..."

Etc.

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post #9 of 17 (permalink) Old 04-24-2012, 10:01 AM
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Quote:
Originally Posted by Wink View Post
Simple, don't process the credit card BINs that are BoA.

Amex BIN from BOA
377311

VISA BINs from BoA (and purchased banks)
4117
414716
471008-11
4217674
421765
421766
4256
426428 to 29 - Bank of America (formerly MBNA) Platinum Visa Credit Card
426451 to 52, 65 - Bank of America (formerly MBNA) Platinum Visa Credit Card
430536, 44, 46, 50, 94 - Bank of America (formerly Fleet) Visa Credit Card
431301 to 05, 07, 08- Bank of America (formerly MBNA) Preferred Visa & Visa Signature Credit Cards
432624 to 30 - Bank of America (formerly Fleet National Bank) Visa Check Card, Debit
4342 - Bank of America Classic Visa Credit Card
4356 - Bank of America Visa Debit Card
435680 to 90 - Bank of America, Visa, Platinum Check Card, Debit
449533 - Bank of America (USA), National Association - Classic, Debit, Visa
Thanks for the lesson Brian. Sounds like the customer service folks and the merchant account IT folks will have some 'fun'.

Greg

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post #10 of 17 (permalink) Old 04-24-2012, 10:04 AM
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it would be a simple programming process to pre-screen the BINs prior to submission and EXCLUDE or reject the BINs above with a standard message.

"I am sorry, but we do not accept Bank of America Credit Cards since they will not accept our money as a customer. Please insert ANY other card." - or something to that effect.

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #11 of 17 (permalink) Old 04-24-2012, 10:18 AM
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www.bankofamericaboycott.com

They seem to be doing all the wrong things.

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post #12 of 17 (permalink) Old 04-24-2012, 10:21 AM
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Quote:
Originally Posted by Underdog View Post
Really. In the article it says they started migrating their business from accessories to firearms manufacturing over the last 5 years.

Therefore, what might have looked good in the books for the first 7 years of their relationship - doesn't exist anymore. The trajectory of the last 5 years and future predictions might not look so appealing.

"The new brake pad division is the future of Callahan..."

Etc.
I recall that Callahan was in the parts business ? And was successful . There is nothing wrong with expansion within your industry . Its not like they went from selling gun parts to mining gold.

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post #13 of 17 (permalink) Old 04-24-2012, 10:23 AM
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I didn't fully read the article, but what's their reason?
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post #14 of 17 (permalink) Old 04-24-2012, 10:31 AM
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Quote:
Originally Posted by STANIMAL View Post
I recall that Callahan was in the parts business ? And was successful . There is nothing wrong with expansion within your industry . Its not like they went from selling gun parts to mining gold.
I agree - but not sure how that makes my point any less valid?

Taking the emotion out of it - they could be selling widgets. If their fiscal solvency (as determined by BoA) appears in question after 12 years or 112 years - it's still in the banks best interest manage the relationship as they see fit.

Where I get confused is why (because of the subject matter) it automatically means that BoA hates widgets, and everything that widget lovers stand for.

Business =/= Personal last I checked. Especially when it comes to the banking industry.

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post #15 of 17 (permalink) Old 04-24-2012, 10:38 AM
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The article and the Director of Operations at McMillen alleges that BoA does not want to associate with them because they are a gun related business. No confirmation from BoA.

According to Snopes, BoA stated that they do not have a policy against gun businesses and referred to an article a out BoAs deal with another gun related business.

Got to love the Internet...and the speed that it provides to information and misinformation.

Greg


Last edited by gsd656; 04-24-2012 at 10:49 AM.
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post #16 of 17 (permalink) Old 04-24-2012, 10:46 AM
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Vague article. No real indication what the decision was based on. Just speculation.
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post #17 of 17 (permalink) Old 04-24-2012, 11:12 AM
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Quote:
We want to let you know that we hear your comments and questions regarding one of our customers. While we cannot discuss the details of any individual client we work with, we can assure you the allegations being made here are completely false. Bank of America does not have a policy that prohibits us from banking clients in this industry. In fact, we have numerous, longstanding customers in the industry.

We are also extremely proud of our support of the US military and reject any assertion to the contrary. We count as clients many companies that provide for our nation's defense. We employ thousands of veterans, Guardsmen, and Reservists, and plan to increase our hiring this year.

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