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Berkshire Bank stops funding assault weapons

Mar 06, 2018 11:41 am
Josh Israel at Think Progress reports that Berkshire Bank is ending its line of credit to Sig Sauer, the gun manufacturer that built the MCX semi-automatic rifle which was used in the Pulse night club shooting in Orlando in 2016. Berkshire Bank, based in Massachusetts, is one of 17 lenders providing financing to the assault weapons industry. Bank of America recently announced it is reevaluating its policies with the gun industry. “At one time, Berkshire Bank was a participating lender in a syndicate of banks that had a lending relationship with Sig Sauer. However, as of 18 months ago we are no longer part of this lending group and we have no further lending relationship with Sig Sauer,” Elizabeth Mach, senior vice president and marketing officer for Berkshire Bank, wrote in an email message. Berkshires-based activist group Greylock Together had pressured the bank to back out of the gun financing, and the group's Ali Benjamin said, “They got back to us almost immediately, said they have in fact cut ties… We appreciate how swiftly they responded, responded unambiguously, said they’re interested in meeting with us about this issue.” Read the full story at Think Progress.