Large Banks Lose Business in Louisiana Because of Gun Stance
Megabanks Citibank and Bank of America are losing out on business in Louisiana. State Attorney General Jeff Landry and the Bond Commission turned down $600 million to those two financial institutions because of the gun control stance adopted by both companies.
Bank of America and Citibank were set to take part in our state's massive road financing plan, but they were cut out of the deal. A spokewoman for the Attorney General tells Breitbart News Jeff Landry and State Treasurer John Schroder have been working on the state’s response to corporate gun control “for some time.” Omitting them from the $600 million is part of that response.
Under the new Citibank policy, gun store owners can no longer sell “high capacity” magazines and keep doing business with the bank. Citibank also requires business to refuse long gun sales to anyone 18-20 years old.
Senator John Kennedy issued the following statement after the State Bond Commission blocked Citibank and Bank of America from doing business with the state:
Citibank and Bank of America are trying to impose their political agenda on the American people. In the process, they’re trampling on people’s Second Amendment rights. That is a slap in the face to every single taxpayer who bailed those banks out during the Great Recession,” said Sen. Kennedy. “The State Bond Commission made the right decision. If you have zero respect for the U.S. constitution, then you don’t need to do business with the state of Louisiana.
Kennedy sent letters to the Governor and State Treasurer John Schroder urging them to reevaluate state contracts with the banks. You can read those Letters here.