Bank of America said yesterday that it was standing by its pledge to stop financing civilian assault weapons and suggested it may be preparing to exit a loan for gun-maker Remington Outdoor Corp. that sparked criticism of the lender, Reuters reported. The statement by Vice Chairman Anne Finucane follows a Reuters report on Sunday that the lender was participating in a $193 million credit facility that will help stabilize Remington’s business when it emerges from bankruptcy this month. After the report, activists including student gun control activist David Hogg were critical of the bank and took to Twitter using the #BoycottBankofAmerica hashtag. Hogg was a student at the high school in Parkland, Fla., where a February shooting helped touch off a renewed push for stricter U.S. gun control. “Let me be clear: We are not changing our policy to end financing of the manufacture of these military-style firearms,” said Finucane, who emphasized that the policy change was on a go-forward basis. She said the Remington financing was in the works for months before the firearms policy was announced on April 10.
