Fifth Third Bank Notifies Customers of Plans to Distance the Company from Firearm Industry

   10.11.18

Spike’s Tactical, a Florida-based firearms manufacturer, announced earlier this week that representatives from Fifth Third Bank visited the company to inform them of their “discreet” plans to distance themselves from the firearm industry.

“We understand that the gun industry is not a protected class and that banks and other businesses can choose to not do business with us, but we also believe that customers should know if that vendor has decided to enter the political arena and they’ve taken a stand against guns,” said Spike’s Tactical owner Angela Register.

This announcement falls on the heels of a gunman opening fire at the Fifth Third Center in downtown Cincinnati, killing three and wounding two others before falling in a shootout with police officers. In response, executives at Fifth Third donated $1 million to assist the families of the shooting victims and hopes others will join in raising another $1 million.

“We have been touched and strengthened by the community rallying around us,” said Greg Carmichael, chairman, president and CEO of Fifth Third Bancorp. “And we wanted to do more. We know from what we’re hearing from our community that others want to help, too.”

Fifth Third Bank operates more than 1,100 branches across the Midwest and the South, which ranks it among the largest money managers in the region holding onto over $363 billion in assets.

“This is frightening because yet again, we’re continuing to see the Second Amendment under attack in more and more places,” Register said. It also seems completely hypocritical that institutions, which have been and continue to be protected by guns, are now attacking the very industry that is often their first line of defense.”

The new anti guns policy follows in line with a host of other corporations (Bank of America, Citigroup) to cut ties with gun makers and retailers over backlash stemming from the Parkland tragedy. It’s also worth noting here, big retailers like Dick’s Sporting Goods, Walmart, Kroger and L.L. Bean discontinued the sales of modern sporting rifles and took initiatives to implement age restrictions on firearms sales.

 

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