Gun Control Advocates Want Banks to Refuse Service to Gun Companies
APRIL 16, 2019
Anti-gun activists and politicians are doing everything they can to effectively disarm the public.
Already this year, extreme and unconstitutional gun control measures have been proposed at the state and federal levels. There has been a lot of pushback, thankfully: a growing number of counties (and even some states) have declared themselvesSecond Amendment sanctuaries and are refusing to enforce gun-control laws that infringe on the Constitutional right to keep and bear arms. Sheriffs inWashington, Colorado, and New Mexico have publicly stated they will refuse to enforce new gun control legislation – and some are even willing to be jailed for their defiance.
Two extreme gun control bills havealready passed the House this year and are awaiting Senate votes (they are unlikely to pass there, experts say).
Gun-grabbers are working on another target: banks.
Gun control advocates “are seeking to use access to financial services as a means to punish and suppress lawful firearm-related commerce,” writes the NRA in Pro-Gun Senators Introduce Bill to Prohibit Discrimination in Financial Services:
First came Operation Choke Point, a supposed “anti-fraud” effort during the Obama administration that morphed into a campaign by federal regulators to intimidate banks and payment processers into refusing business with politically disfavored clients, including firearm-related businesses. That program was officially repudiated by the Trump Administration, but for some businesses, the damage had already been done.Anti-gunners next turned directly to the financial service providers themselves, extorting them with “social justice” condemnation for “financing” mass shootings and insisting they drop their firearm industry clients or impose gun control-like conditions on doing business with them. Several national banks did just that.also tried to embarrass those companies with proxy actions designed to portray the businesses in a negative light. To date, those efforts have been largely unsuccessful. (source)
Gun control advocates are trying to intimidate banks into refusing service to gun companies.
Now, anti-gun members of Congress are attempting to use Choke Point-like tactics in an effort to intimidate banks and marginalize law-abiding businesses in the firearm sector:
Rep. Carolyn Maloney (D-NY) went so far as to berate the president and CEO of Wells Fargo Bank during a public oversight hearing for refusing to buckle to the pressure of the anti-gun lobby’s demands.“How bad does the mass shooting epidemic have to get before you will adopt common sense gun safety policies like other banks have done?”Maloney demanded to know.To his credit, the Wells Fargo executive stood firm, replying, “We just don’t believe that it is a good idea to encourage banks to enforce legislation that doesn’t exist.” (source)
At stake for gun owners is whether the industries that provide firearms, ammunition, and related accessories will be able to participate in the economy at all if these tyrants get their way.
Some members of Congress are already deploying extreme measures.
Alexandria Ocasio-Cortez (D-NY), like Maloney, sits on the House Financial Services Committee, which is involved in banking oversight.
Ocasio-Cortez already seems quite at home in her new position and just fine with doing whatever it takes (ethical or not) to push her agenda. She recently told Politico, “There’s more than one way to skin a cat, and not everything has to be done through legislation explicitly. We can also use the tools that we have here to pressure change in other ways as well.”
That includes the implicit threat of telling regulated entities they are now on the Official Naughty List for not toeing the political line and unleashing activist hordes to bombard their social media feeds with defamatory accusations or to perhaps take more drastic action in the real world. (source)
Two senators have introduced a bill to stop banks from denying services to the gun industry.
On March 14, pro-gun Senators Kevin Cramer (R-ND) and John Kennedy (R-LA) introduced S. 821 the Freedom Financing Act, a bill to ensure large financial institutions cannot deny service to certain constitutionally-protected industries that are fully compliant with all laws and statutes.
The Act would restrict banks’ access to loans from the Federal Reserve’s discount window if they refused to serve legal firearms businesses for reasons outside of “traditional” underwriting. In addition, the bill would also restrict payment card networks from declining to serve the industry because of political or reputational concerns.
https://www.activistpost.com/2019/04/gun-control-advocates-want-banks-to-refuse-service-to-gun-companies.html
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