Business

Two Mega-Banks Lose Out On $600 Million Project Over Anti-Gun Policies

Shutterstock/Doug Shutter

Daily Caller News Foundation logo
Molly Prince Politics Reporter
Font Size:

Two of the world’s largest banks were denied the opportunity to participate in a $600 million statewide infrastructure project because of their recently adopted anti-gun policies.

The Louisiana Bond Commission voted Thursday to block Bank of America and Citibank from financing the state’s highway plan after the banks were originally set to take part in the project, reported The Washington Times.

Both Bank of America and Citibank announced earlier in 2018 that they would implement strict firearm purchase regulations on customers following a slew of school shootings. (RELATED: Massachusetts Governor Signs Gun Seizure Bill)

“As treasurer and chairman of the Bond Commission it is one of my duties to help hire financial professionals and not necessarily social engineers,” said John Schroder, Louisiana State Treasurer, after making the motion.

Together, the two banks control one-third of the United States government bonds and almost a quarter of the state’s bond obligations. It is unclear if the move could ultimately cost taxpayers.

“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,” Republican Sen. John Kennedy of Louisiana said in a statement. “This is a slap in the face to every single taxpayer who bailed those banks out during the Great Recession.”

“The State Bond Commission made the right decision,” Kennedy continued. “If you have zero respect for the U.S. constitution, then you don’t need to do business with the state of Louisiana.”

Follow Molly on Twitter

Send tips to molly@dailycallernewsfoundation.org

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.