General Electric halts financing to gun shops [View all]

General Electric discovered it was financing a small number of firearm purchases in the wake of the Newtown, Conn., school shootings - despite deciding five years ago to avoid the practice - and moved to stop future loans, the company said on Wednesday.

Many of the conglomerate's employees live in or near Newtown, about 25 miles from GE's Fairfield, Conn., headquarters. Peter Lanza, the father of the Newtown gunman, is a GE executive.

The company's GE Capital unit stopped providing consumer financing in 2008 at retailers whose primary business was firearms, except to less than 75 grandfathered businesses. After Newtown, it stopped financing even those handful of stores, spokesman Russell Wilkerson said Wednesday.

http://www.nbcnews.com/business/general-electric-halts-financing-gun-shops-6C9592611?gt1=43001

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