Did Bank of America freeze company's account because it sells guns?

From CNSNews.com:

. . . “My name is Joe Sirochman owner of American Spirit Arms...our Web site orders have jumped 500 percent causing our Web site e-commerce processing larger deposits to Bank of America. So they decided to hold the deposits for further review. 

“After countless hours on the phone with Bank of America, I finally got a manager in the right department that told me the reason that the deposits were on hold for further review -- her exact words were -- ‘We believe you should not be selling guns and parts on the Internet.’”(emphasis added) 

Sirochman also wrote that he told the bank manager that “they have no right to make up their own new rules and regs” and that “[American Spirit is a] firearms manufacturer with all the proper licensing.” 

He also noted that he has been doing business with Bank of America for over 10 years, but will now be looking for a new bank. 

According to Unlawful News, this isn't the first time Bank of America has targeted a customer involved in the firearms industry. . . . .