The second largest bank in the United States will no longer lend money to gun manufacturers that create AR-15s and similar “assault-style” semi-automatic weapons following the February shooting at Marjory Stoneman Douglas High School.

Anne M Finucane, vice chairwoman of Bank of America, announced the policy shift during an interview on Bloomberg TV, saying that the financial institution made the decision after “intense conversations over the last few months”.

“We want to contribute in any way we can to reduce these mass shootings,” Ms Finucane said.

Bank of America did not provide the names of any gun manufacturers it works with when contacted for further details, but some of their clients are well known and publicly held brands. Most gun manufacturers in the US are privately held entities, and it is therefore difficult to know which may have business relationships with the bank.

“We were heartened to see Bank of America join the list of companies stepping up to keep America safe, especially when Washington politicians are failing to take action,” Avery Gardiner, the co-president of the Brady Campaign to Prevent Gun Violence, said in a statement emailed to The Independent

“Why would anyone want to help finance assault weapons that are regularly used in mass shootings? The gun violence epidemic in this country is a uniquely American problem and it's encouraging to see America's corporate giants take a leading role in this fight,” Ms Gardiner continued.

March for Our Lives – in pictures Show all 13 1 /13 March for Our Lives – in pictures March for Our Lives – in pictures Demonstrators chant during the protest for gun legislation and school safety AP March for Our Lives – in pictures Trevon ‘Tre’ Bosley, 19, of Chicago, the brother of Terrell Bosley who was killed in 2006 in a case of mistaken identity, speaks during the rally AP March for Our Lives – in pictures Marjory Stoneman Douglas High School student Delaney Tarr speaks at the rally AFP/Getty March for Our Lives – in pictures Protestors line the streets in Washington Getty Images March for Our Lives – in pictures People arrive for the March For Our Lives rally against gun violence in Washington, DC AFP/Getty March for Our Lives – in pictures Protestors carrying placards in Washington AFP/Getty March for Our Lives – in pictures Protestors hold up placards in Washington AFP/Getty March for Our Lives – in pictures Schoolchildren wear targets ahead of the rally Getty March for Our Lives – in pictures Attendees congregate in preparation for the march Getty March for Our Lives – in pictures Students brought a host of innovative placards AFP/Getty March for Our Lives – in pictures The movement’s main demand is the banning of assault rifles Getty March for Our Lives – in pictures Since the Florida shooting, students have called for urgent gun reform AFP/Getty March for Our Lives – in pictures In the wake of the Florida attack, President Donald Trump called for teachers to be armed AFP/Getty

The decision by Bank of America to wind down its relationships with companies that produce AR-15s and other similar weapons for civilian use makes it at least the second major bank in the US to rewrite its firearms policies after Citigroup announced that it would require its gun industry clients to stop selling to customers who have not passed a background check, and who are not at least 21 years old.

Since the high school shooting in Parkland, Florida, many other top corporations have entered the gun control debates well. Soon after the shooting, for example, corporations fuelled a national boycott of the National Rifle Association, with top brands in several industries dropping partnerships with the group.

Bank of America will still do business with retailers that sell the weapons it is now targeting, and Ms Finucane said they would continue doing so because asking gun stores to stop selling certain types of weapons “gets into civil liberties” and could be “a ways off”.