Now THIS is interesting…

On one hand we have Citi and their stance (newly formed) on guns and their credit cards…

Citigroup’s landmark decision to restrict gun sales in the wake of the Parkland, Fla., school massacre is threatening its relationship with GOP lawmakers, who are preparing to retaliate against the nation’s fourth-largest bank.

Full article HERE, at Politico.

On the other hand, we have Wells Fargo fighting off a push from teachers…

The American Federation of Teachers on Friday published an exchange with Wells Fargo that began with AFT president Randi Weingarten saying if the bank continued in the “arms business” then the organization would “dump” its Well Fargo mortgage program. The program has directed more than 20,000 members to the bank’s services.

Full article HERE, from Guns.com

I think it will be interesting to see how these play out. We all remember the E-Bay/Paypal issues, and how they drove us away. It’s really an attempt to once again shut off money to the gun makers, and Bank of America did that yesterday.

Bank of America officially took sides in America’s gun debate Tuesday, announcing it would no longer make loans to companies that make “military-style” weapons.

The second-biggest U.S. bank announced Tuesday that it would drop current loan-customers Vista Outdoors, Remington and Sturm Ruger, and blackball any other manufacturer of assault weapons.

Full article, HERE.

Sigh…


Comments

Now THIS is interesting… — 16 Comments

  1. If I did any business with Citi or BOA, I would drop them – but I already avoid the big banks; they have previously made it clear that they don’t care about little guys like us as customers, so I give my business to banks who do care about little guys.

    P.S. I heard a claim yesterday that Citi just started doing credit card processing for Bass Pro Shops; if true, this sounds like a contradiction.

  2. Pat/Jonathan- I dropped BofA a couple of years ago. I’ve been happy with Wells Fargo, and have had accounts with them for over 40 years. The ONLY reason I had BofA, was they have overseas facilities on the bases.

  3. Citi is the only card Costco uses. I may need to rethink my use of that card when I go there.

  4. As the politically correct banks try to shut off the spigot, other less politically correct money will step in and take the business.

  5. Costco issues a Citi card with rebates but accepts any Visa card. USAA’s Visa card doesn’t have as good a rebate program but taking money out of Citi’s mouth sounds like a good thing.

  6. The day our banks try to control what we purchase is a day closer to hell. Slippery Slope. NRA should have a credit union.

  7. I got totally hosed by Wells Fargo, along with a lot of little people. They have always been good to their big customers but not to the little people.

    I never opened up an account at BOA. I opened an account at a local bank in Brevard County in 1983 and it got bought out by someone, who got bought out by someone else, who got bought out by Empire, who got bought out by BOA. Every step I lost some privileges, accounts were changed and downgraded. I currently have everything through BOA, but will be looking at what it takes to shift everything, like everything to a local bank or credit union. Not like I’ll be travelling out of my area so there’s no reason to have a national bank.

  8. All- Good points all, and I forgot to mention I also have Navy Federal (45 years). Credit unions DO seem to work harder to keep your business!

    Posted from my iPhone.

  9. Ive never had anything to do with any of the big banks and i am all the happier for it. Its always been Navy Fed and a local credit union

  10. Hey Old NFO;

    We still have our account with the Death star aka BOA, only reason we still have them is the many locations all over the country. I have been pushing to go to the credit union affiliated with my employer but the spousal unit is balking at that, but we will see.

  11. Bob, the STAR interbank network covers the country and most credit unions are part it. I bank with one CU but do all my ATM cash and check deposits with a different CU entirely without any issues

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