Wells Fargo Is the Go-To Bank for Gunmakers and the NRA
- San Francisco-based firm inherited its relationship with NRA
- Banks arrange for weapons companies to access loans and bonds
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Wells Fargo & Co. has emerged as the preferred financier for the U.S. gun industry.
The bank has helped two of the biggest U.S. firearm and ammunition companies access $431.1 million in loans and bonds since December 2012, when the gun control debate gained steam after the school shooting in Newtown, Connecticut, according to data compiled by Bloomberg. That puts it on the top of the list of banks arranging funding for gunmakers.