Wells Fargo is doubling straight straight straight straight down in the weapon industry, undaunted by critique of their deep ties to firearm organizations in addition to nationwide Rifle Association.
The San bank that is francisco-based week issued a $40 million personal credit line to gun manufacturer Sturm, Ruger & Co., based on monetary filings. That is along with the $431 million with debt that Wells Fargo has arranged for gunmakers since 2012, when the Sandy Hook school shooting escalated the gun control debate december. Hardly any other bank lent more to your industry over that right time, based on information published by Bloomberg.
The brand new financial obligation, released to at least one around the globe’s biggest publicly exchanged gunmakers, came as a huge shock to one or more team: nuns who had previously been speaking with Wells Fargo about corporate-responsibility problems. (more…)