Companies Are Starting to Back Away From the Gun Industry and NRA

Signs are emerging that companies and investors are starting to push back against the gun industry and its main lobbying group, the National Rifle Association (NRA), in the wake of last week’s Florida high school shooting.

BlackRock, the world’s largest asset manager, said Thursday that it had heard from investors who no longer want their money associated with the firearms industry. The company said it intends to speak to gun manufacturers to “understand their response” to the attack.

“We are working with clients who want to exclude from their portfolios weapons manufacturers or other companies that don’t align with their values,” BlackRock spokesman Ed Sweeney told CNBC.

Meanwhile, First National Bank of Omaha announced Thursday that it will not renew its deal with the NRA for the “official credit card of the NRA.” For the last decade, the bank has issued an NRA-branded card that gives a cash-back bonus equivalent to the association’s annual membership fee.

Source: Yahoo News