GE Capital cuts lending ties with gun stores

Associated Press + More

By JOSEPH PISANI, Associated Press

NEW YORK (AP) — General Electric's finance arm is cutting its last ties with gun dealers, halting financing offers at about 75 gun shops across the U.S. in the wake of the Newtown, Conn., massacre.

The December school shooting has ignited a national debate about gun laws and driven some companies to distance themselves from the gun industry. General Electric Co.'s headquarters is in Fairfield County, Conn., about 20 miles from Newtown.

GE Capital says that "industry changes, new legislation and tragic events" sparked it to do an audit of its 200,000 customers. GE Capital originally cut ties with gun stores in 2008, but discovered less than 75 stores were still receiving financing packages.

GE Capital says the policy change won't have a material effect on sales.

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