TD Bank has come under fire from a New York City official for doing business with gun manufacturers.
The $241 billion-asset unit of Toronto-Dominion Bank has allegedly lent $300 million to Smith & Wesson, the maker of the guns found in last week's shooting in San Bernardino, Calif., according to Letitia James, the New York City Public Advocate.
James demanded in a letter to TD that the company donate proceeds from its business with Smith & Wesson to anti-gun groups, CBS New York reported Sunday. James is also trying to dissuade consumers from banking with TD until it complies. Additionally, James is pushing the city of New York to reassess its contracts with the bank.
"Money that fuels gun violence is blood money," James said Sunday, at an anti-gun rally in front of a TD branch on West 68th Street in New York.
TD issued a statement Monday on the San Bernardino incident, but did not respond to James' remarks. TD also declined to comment on its relationship with Springfield, Mass.-based Smith & Wesson or other clients in the gun industry, citing its corporate policy.
"We are deeply saddened by the events in San Bernardino and our sympathies go out to the individuals and their families affected by this tragedy," TD said in the statement. "We believe this issue belongs in the public policy arena and we support bipartisan efforts to prevent these tragic incidents from occurring in the future."