Bank of America Backtracks on Lending Ban to Some Gunmakers

Bank of America Corp. is loosening restrictions on lending to the firearms and energy industries amid pressure from anti-ESG politicians in Texas and Florida.

The bank backed off itsban on lending to companies that make assault-style guns used for non-military purposes. Rather, the firm will make such decisions on a case-by-case basis with senior risk officers, according to its latest environmental and social risk policy framework. The Charlotte, North Carolina-based bank also made similar changes to its energy lending policies — it no longer has a blanket ban on financing for Arctic drilling.

“Certain client relationships or transactions ...