McMillan Fiberglass Stocks, McMillan Firearms Manufacturing and McMillan Group International have been collectively banking with Bank of America for 12 years. But no more: In a recent meeting, the mega-bank told the firearms company that its business is no longer welcome.
McMillan described a meeting at his office with Ray Fox, a business banking Senior Vice President with Bank of America.
The Bank of America emissary, he said, “spent 5 minutes talking about how McMillan has changed in the last 5 years and have become more of a firearms manufacturer than a supplier of accessories.”
“At this point I interrupted him,” McMillan said, and asked, ‘Can I possibly save you some time so that you don’t waste your breath? What you are going to tell me is that because we are in the firearms manufacturing business you no longer what my business.’”
Fox’s reply, according to McMillan? “That is correct.”
He recalls telling the bank executive that he planned to tell the National Rifle Association, Safari Club International, and his other gun-loving friends “that Bank of America is not firearms-industry-friendly.”
“You have to do what you must” was Fox’s reply.