Anger over banks' gun policies tangles with $600M road plan - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Anger over banks' gun policies tangles with $600M road plan

Louisiana State Capitol (Source: WAFB) Louisiana State Capitol (Source: WAFB)

By MELINDA DESLATTE
Associated Press

BATON ROUGE, LA (AP) - Louisiana's plans to finance about $600 million in interstate projects have gotten tied up in a dispute over moves by two banking giants to restrict gun sales by their business customers.

The State Bond Commission disagreed Thursday about how and if Louisiana should retaliate against Citigroup and Bank of America for their firearm restriction policies.

Citigroup announced it will end relationships with businesses that sell firearms to people who haven't passed a background check or anyone under the age of 21, among other restrictions. Bank of America said it will stop doing business with certain gun manufacturers.

Treasurer John Schroder wants Louisiana to stop contracting with the banks.

But the commission voted 8-6 against Schroder's bid to keep the banks from being eligible to work on the interstate financing deal.

Gov. John Bel Edwards released the following statement on the State Bond Commission meeting where the members approved the administration’s plan to invest $650 million in critical infrastructure projects across the state:

As a West Point graduate, Army Ranger, and avid hunter, I’m a staunch defender of the Second Amendment. However, today’s Bond Commission meeting was an ugly display of political posturing that could have jeopardized a massive infrastructure plan for the state of Louisiana. My administration’s approach to invest more than $600 million in infrastructure projects in Louisiana has received bipartisan support in the legislature and praise from Louisiana’s citizens and business groups. The State Bond Commission voted today to move forward with these critical projects, while at the same time reserving the right to consider the policies of the financial institutions that will finance the projects at a later date in a public meeting. I will continue to work every day to make Louisiana a business friendly state and to support to infrastructure projects that will benefit our people.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by Frankly