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CNN's Banfield Attacks Hobby Lobby for 401(k) that Includes Plan B Pharmaceutical Co

CNN's Banfield Attacks Hobby Lobby for 401(k) that Includes Plan B Pharmaceutical Co

On Wednesday, CNN host Ashleigh Banfield attacked the perceived “hypocrisy” of Hobby Lobby’s 401(k) retirement plans including $73 million dollars invested in funds with companies that make birth control methods including the Plan B “morning after pill.”

Network business correspondent Alison Kosik defended Hobby Lobby saying It could simply be an oversight because she said  “these are huge funds” with hundreds of stocks.

“The critics are calling Hobby Lobby’s 401(k) investments hypocrisy at its finest,” Banfield said and added that CNN had not gotten any answer  from Hobby Lobby after giving them  “plenty of time” to respond.

According to a CNN, Hobby Lobby offers employees choices to invest in over a dozen different mutual funds and at least eight of those funds include companies that produce contraceptives such as Teva Pharmaceutical (TEVA), Bayer (BAYRY) and Pfizer (PFE).

Follow Pam Key On Twitter @pamkeyNEN

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