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Posts Tagged banking
Louisiana Passes Bill To Deny State Funds To Anti-gun Companies
From Bearing Arms:
The 71 votes in favor of the bill means the measure has a veto-proof majority in the state House, which is critically important given that a similar bill sailed through the legislature in 2021, but was unable to overcome a veto by Gov. John Bel Edwards, who also vetoed a Constitutional Carry bill in the same session.
AZ House Passes Anti Financial Discrimination Bill
From The Truth About Guns:
The Arizona House voted Wednesday to penalize businesses that refuse to do business with firearms companies by barring them from state contracts.
Defund Communist China
From The Federalist:
This needs to stop. This is why I am crafting legislation to force American university endowments to either divest from China or give up the benefits they receive from the American taxpayer. This provision would also apply to any pension funds that receive tax breaks from the federal government, so that the retirement security of tens of millions of Americans totaling more than $10 trillion is not tied to the success of America’s greatest enemy.
Louisiana Denies Chase Bank Bond Deal Because of Gun Control
From The Advocate:
Louisiana officials Thursday blocked banking giant JP Morgan Chase from participating in a bond refinancing deal, in Republicans’ escalating effort to keep some large investment firms sidelined from state work because they limit business with firearm manufacturers.
Citigroup Caves To Texas On Gun Stance
From The Truth About Guns:
Citigroup took a key step to restart its public-finance operations in Texas by submitting a letter last month verifying its compliance with the new law.
The bank sent a so-called standing letter to the Texas Attorney General’s office, a requirement for banks if they want to do business with Texas and its local governments after the legislation took effect.
Texas Law Could Oust Bank of America and Citi From State
From Bloomberg:
The legislation, Senate Bill 19, would block government entities from contracting with banks and other financial services providers that have policies that restrict business with the firearms industry. Under the bill, companies with 10 employees or more seeking a government contract worth at least $100,000 would have to verify in writing that they do not have a policy or directive that “discrimina
Wyoming Targets Anti-Gun Banking With New Law
From Bearing Arms:
Laws like these need to be replicated throughout the land. Since the federal government has done little to offer up the proper protections to industry members from being discriminated against, freedom oriented states are stepping up to the plate and swinging for civil rights. How Operation Chokepoint has not been subject to a RICO level scrutiny escapes me, as well as the continued chill since the formal dissolution of the program. The fact of the matter is these practices are illegal, as they are creating different classes of people and businesses, refusing to serve “those peopleâ€.
Senator Suggest That Banks Lose FDIC Insurance If They Discriminate Against Gun Businesses
From The Truth About Guns:
And these are legal commerce. These are profitable companies. I’m just saying that you can’t discriminate that way if you’re an FDIC bank. And if you do, you should probably lose your insurance.
Biden To Reverse Fair Banking Rule?
From Guns.com:
“There’s no reason for today’s action by career officials in the Office of the Comptroller of the Currency other than bending to political pressure from big banks and stalling or eliminating the rule will not stop the efforts of those of us who support it from continuing these efforts,”  said U.S. Sen. Kevin Cramer R-N.D., who sits on the Senate Banking Committee. “The Biden Administration should use this opportunity to demonstrate leadership and not just be puppets for the large financial interests who back them.”
The Fight Against Financial Censorship
From The Electronic Frontier Foundation:
On Thursday, the Office of the Comptroller of the Currency finalized its Fair Access to Financial Services rule, which will prevent banks from refusing to serve entire classes of customers that they find politically or morally unsavory. The rule is a huge win for civil liberties, and for the many sectors who have found themselves in the bad graces of corporate financial services, like cryptocurrency projects, marijuana businesses, sex worker advocacy groups, and others.