GE Capital Stops Lending to Gun Sellers

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The financial unit of General Electric, GE Capital, is going to stop financing gun shops, according to a Wednesday report in the Wall Street Journal. GE Capital actually began pulling away from this business back in 2008, when it stopped taking on new customers. Now existing customers, who were grandfathered in, are being sent letters saying that GE Capital is no longer in this business, according to the Journal. This isn’t exactly surprising. GE Capital is based right next to Newtown, Conn. From the Journal: GE is based in Fairfield, Conn., and many of GE’s employees live around Newtown, and several have children in the Sandy Hook elementary school, where the shootings took place. Peter Lanza, the father of Sandy Hook gunman Adam Lanza, is an executive at GE Capital. GE Chief Executive Jeff Immelt held a town hall meeting with affected employees after the shooting, and the board has been updated on efforts…

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