Skip to comments.Obama Administration Deems Gun Retailers 'High-Risk,' Intimidates Banks That Do Business With Them
Posted on 05/23/2014 2:55:35 PM PDT by 2ndDivisionVet
Leave it to the Obama administration to come up with perhaps the most backdoor strategy to date to go after guns.
Operation Choke Point, launched by the Department of Justice in 2013, was initially set up to monitor banks and other financial institutions that handle transactions for payday loan businesses and other online lenders the government considered open to fraudulent activities. What does this have to do with guns?
Operation Choke Point is now being used to intimidate banks that do business with online merchants the Obama administration deems high-risk. On that list are porn stores, escort services, drug paraphernalia shops and, you guessed it, gun retailers.
In other words, if youre a bank, the government may be breathing down your neck about businesses it deems high-risk for fraudulent activity. It may swoop in at any time to open up an investigation into your banking business if its agents think one of your clients is engaged in illegal behavior. Why would you take on that client in the first place? Its much less costly for you to stop dealing with these companies than to submit to investigations and audits.
That means gun shops that offer their products online and use a third-party company such as PayPal to handle credit card transactions are increasingly not worth the risk.
Peter Weinstock, an attorney focusing on investigations of financial institutions, says, This administration has very clearly told the banking industry which customers they feel represent reputational risk to do business with. So financial institutions are reacting to this extraordinary enforcement arsenal by being ultra-conservative in who they do business with: Any companies that engage in any margin of risk as defined by this administration are being dropped.
Already, gun retailers in Florida, Nevada and Arizona have experienced the fallout of such heavy-handed government tactics from banks freezing their accounts and refusing to process their credit card transactions to dropping their accounts altogether.
For example, the owner of a firearms training and supply company in Miami received a notice from his local bank saying it was dropping his online business, The Washington Times reports. Unfortunately your companys line of business is not commensurate with the industries we work with, the banks notice said.
The National Rifle Association says while it is monitoring the situation closely, it cannot yet substantiate that the federal government has an official policy of using financial regulators to drive firearm or ammunition companies out of business. That said, the NRA is aware of episodes in which banks have severed their relationships with customers in the firearm industry, as well as the policies of various online services such as Google Shopping, eBay, Craigslist, and PayPal to refuse to host listings for, or process sales of, firearms or ammunition.
The NRA is being too nice. Operation Choke Point may be publicly touted as going after the private lending industry, but I would venture to guess the Obama administration hardly sees the results for firearm manufacturers and gun shops as unintentional consequences. It is another case of this administration using its federal power and going around Congress to achieve its ideological goals.
“Operation Choke Point is now being used to intimidate banks that do business with online merchants the Obama administration deems high-risk.”
The gov is out of control.
Better get your guns and ammo while you can. You won’t be able to within a couple of years.
I bought my Memorial Day prize online today. A Marlin 45-70 1895GS 4+1, 18.5” bbl lever action. I had a Leupold FX-II silver sitting around and decided a I needed a nice stainless lever action to go under it. Pick it up on Wednesday.
Where in the hell is Congress? These ba$turds never try to oppose all these crazy tactics.
Media thinks O is cute, but where is the “loyal opposition”?
Where is the NRA?
Preventing buying and selling.
I’ve heard of this.
Had ENOUGH Yet ?
I wonder if there’s a way for Conservative Attorneys General in Republican states to go after banks engaging in this sort of thing under state business licensing laws.
I bet there is. Or at the very least using a prosecution to bring all the details to light.
Pull a Walmart on them and get the NRA to open a bank just for members.....just a thought with flaws I am sure.
When people are so apathetic they let this SOB Barry have a second term they can expect the abuse of power we're seeing and there are probably worse abuses to come.
Little tin god Barry will use regulations in all sorts of creative ways they were never intended to be used in order to destroy any and all people or behaviors he doesn't approve of, it's that simple.
1. fast and furious - to target gun stores as villains for pretext to strip away second amendment rights.
2. epa shutting down lead production for bullets.
3. batfe - f troop - going into gun dealer stores recording 4473 forms bypassing they can’t have a database of what firearms a person owns.
4. doctors probing about guns.
5. schools asking kids about parents’ guns.
6. vets being targeted to be disarmed any way possible/ptsd, psych, etc.
7. lumping gun stores in with porn co’s to deny them banking ability.
Fascist Nazis like Obama are all alike.