Skip to comments.Democrats seek to restrict gun rights by targeting financial institutions
Posted on 06/13/2018 2:13:31 PM PDT by richardb72
If liberals cant silence self-defense advocates or pass the gun control laws that they want, they will keep you from using your credit cards to buy guns or accessories. They also will prevent firearm makers from getting financing.
At first this was a matter of government policy, but now it is coming about by political pressure on private companies.
In 2013, the Obama administration initiated Operation Choke Point, which utilized the banking industry to choke off the ability of certain fraudulent businesses in high-risk sectors to operate by cutting off their access to financial services. Many in the gun industry found themselves suddenly cut off from banking relationships without notice or explanation.
This administration has very clearly told the banking industry which customers they feel represent reputational risk to do business with, said Peter Weinstock, a lawyer at Hunton & Williams LLP. 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.
Gun makers labeled by the Obama administration as a reputational risk around the country found themselves being dumped by banks that they had worked with for decades. Companies were able to find substitutes but only at a much higher cost of doing business.
By August 2017, the Trump administration ended Operation Choke Point, but that respite was short lived. In March, Andrew Ross Sorkin, a columnist for The New York Times, argued that if government officials wont curb gun sales in the U.S., companies that handle the payments for guns should do so. Gun control groups, such as the Brady Campaign, have also been pushing the idea.
Unfortunately, this year, many financial institutions have put restrictions on companies in the gun business......
(Excerpt) Read more at thehill.com ...
Liberals will use any means to further their agenda.
Republicans will use any means to appease their donors.
There is so much wrong with those six words alone.
These rights are granted to you by providence and they want to deny you!
Citigroup, the nations fourth-largest bank, announced in March that it would prohibit the use of its financial services for people under age 21 who tried to buy guns. It would also require that all sales had to go through universal background checks.
Bank of America, the nations second-largest bank, announced on Bloomberg TV in April that it would no longer finance the operations for companies that made the most commonly owned semi-automatic rifles. Of course, this means that Bank of America will still be providing financial services to other gun makers.
In February, First National Bank, the nations largest privately owned bank, stopped issuing credit cards with the NRA logo as a result of a coordinated campaign by gun control groups.
Android Pay and Google Wallet, PayPal, Square, Stripe and Apple Pay have stopped firearm sales using their services.
. ...I’ve made hundreds of “loans” in my life often involving millions for real estate development projects. Based upon that experience, it is my opinion that this article is much ado about NOTHING. The world is awash in money right now like nothing I’ve ever seen in 50 years. New credit cards are coming on the market every day. Multi billion dollar foreign banks don’t give a damn about the gun grabbers if they can safely make some big bucks to a gun manufacturer.
I do not do any business with any of the fascist organizations shown above. What will be interesting is whether more business will be given to banks or other organizations that are not enemies of the Second Amendment.
Multi billion dollar foreign banks dont give a damn about the gun grabbers if they can safely make some big bucks to a gun manufacturer.
Don’t be too sure. See post 5 right above yours. Go over to Amazon and see how many weapons you can buy. Not even ammo.
Face it. Liberals will not take away our rights by legal or illegal methods. They will use the Free Market forces to enforce gun control.
There is only way to support ‘Rats and gun control - if they do it the Right way. Problem is, they go for gun control in every possible wrong way - but never the right way.
If only they pursued a Constitutional amendment to overturn the second amendment, I could agree with their method. Indeed, if they wanted help, I’d happily suggest they use the COS.
Of course, they won’t get very far if they use the right method, but that is their problem, not mine.
So as loathe as the right is to make new laws and regulations; this might be a good exception to that rule.
Fine any financial institution $25k for each transaction they refuse to process involving firearms. Should take about 2.31 seconds for them to reverse their evil ways of doing business.
[ Liberals will use any means to further their agenda.
Republicans will use any means to appease their donors. ]
Neither will do anything to defend the law abiding tax payer....
I’m OK paying cash. Might pay a little higher price because it would probably be a local purchase....but no matter.
I will miss the airmiles though...
No matter how they go about it, anything impacting Second Amendment rights negatively would be a violation of the U. S. Constitution.
And some want to go to a cashless society. If they can do this in regard to firearms, what stops them from doing it in regard to anything else? Tobacco? Alcohol? Parochial schools? Your Sunday tithe to a church they don’t like?
How can this be stopped? Any bank rules to protect businesses? Laws?
Where democrats rule darkness, decay and despair will follow.
I would NEVER use a credit card to buy a weapon or ammo. No matter the amount.
The federal government needs to implement operation reverse Choke Point. If you DON’T do business with gun makers, the feds come down on you.
In the meantime, I will be closing my BofA account I’ve had for well over a decade - yes its has been a huge PITA as I move all my direct deposits and direct withdrawals over to my new bank which does not engage in gun grabbing.
I have also done business with Turbo Tax for the last time since they are owned by Intuit.
I am looking forward to telling both of them exactly why I am terminating my business relationship with them.
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