GE Capital halts lending for gun shop...

GE Capital halts lending for gun shop purchases

Posted in the Minneapolis Forum

Consistently Drunk

Minneapolis, MN

#1 Apr 24, 2013
GE Capital halts lending for gun shop purchases


Months after the shooting that killed 26 at a Connecticut elementary school, General Electric has halted its lending program for purchases from gun shops, the company said Wednesday.

GE Capital, which provides consumer financing services, had previously provided lending services to gun shops to help consumers finance firearm purchases. Earlier this year, the company sent letters to shops notifying them that the program would be terminated for future purchases.

The move was the result of "a more rigorous audit process... in light of industry changes, new legislation and tragic events that have caused widespread reexamination of policies on firearms," GE Capital spokesman Russell Wilkerson said in an e-mail.

GE Capital had in 2008 stopped providing financing services to new merchants whose primary business was selling firearms. The move to nix the remaining relationships will affect less than 75 retailers and is an "immaterial" part of the company's sales volume, Wilkerson said.

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