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Posts Tagged financial industry
Anti-Gunners Target SAFE Banking Act
From Bearing Arms:
The SAFE Banking Act seeks to address the issue by allowing marijuana businesses to participate in the financial industry like any other lawful business. Customers would thus be able to transact with marijuana businesses using credit cards and electronic payments, taking cash out of the equation and making transactions safer for both the businesses and their customers. This would result in fewer incidents of “gun violence,” which our friends in the gun control organizations purportedly care about.
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.
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€.
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.
Stop Using Credit Cards To Buy Guns
From Reason:
Rep. Jennifer Wexton’s (D–Va.) “Gun Violence Prevention Through Financial Intelligence Act” would require the Financial Crimes Enforcement Network (FinCEN) to “request information from financial institutions for the purpose of developing an advisory about the identification and reporting of suspicious activity.” The bill’s aim is to identify a consistent purchasing pattern among people who buy firearms and firearm accessories in order to conduct “lone wolf acts of terror” and expose how the firearms market in the United States is exploited by would-be mass shooters.
NJ Now Going After Banks That Do Business With Gun Industry
From The New York Times:
New Jersey intends to stop doing business with gun manufacturers and retailers that fail to adopt policies, like conducting background checks, to stop guns from falling into the wrong hands, becoming the first state to take such stringent action against the firearms industry.
The state will also apply pressure on major financial institutions, seeking information from banks that do business with New Jersey about their relationships and policies involving gun makers and sellers.
Citigroup Continues To Discriminate Against Gun Industry
From The Federalist:
Citigroup’s getting asked some hard questions about the fiscal sanity of their decision to discriminate against firearms businesses, and their answers aren’t likely to soothe investors.
Justin Danhof, general counsel for the National Center Public Policy Research and Free Enterprise Project, posed a simple question in a shareholder meeting: “Can you tell us—your investors—exactly how much money we stand to lose because of this decision, and explain why you have this right while Warren Buffet has this wrong?â€
Senator Puts Pressure On Banking Industry
From Bearing Arms:
The chairman of the Senate Banking Committee warned the banking industry on Thursday that it should not attempt to restrict legal gun sales by denying financial services to members of the gun industry.
Sen. Mike Crapo (R., Idaho) sent a letter to eight of the country’s biggest banks detailing his concerns with the way some of them had begun rejecting business from certain gun companies. In the last year, several of them have attempted to restrict what kinds of guns can be sold to the public and who they can be sold to by applying financial pressure.
Bill Introduced To Protect Gun Industry Access To Financial Services
From Guns.com:
The proposal, SB 821, was crafted to keep large financial institutions from denying service to constitutionally-protected industries involved in lawful shooting sports. Introduced by North Dakota Republican U.S. Sen. Kevin Cramer last week, U.S. Sen. John Kennedy, R-La, has signed on as a co-sponsor.
Louisiana Punishes Banks For Anti-Gun Stance
From The Washington Times:
A Louisiana commission voted Thursday to block two banking giants from taking part in a new highway project, moving to punish the companies for gun control policies they adopted after the Parkland, Florida, school shooting this year.
NYT: Banks And Credit Cards Should Refuse Gun Sales
From The New York Times:
For the past year, chief executives have often talked about the new sense of moral responsibility that corporations have to help their communities and confront social challenges even when Washington won’t.
What if the finance industry — credit card companies like Visa, Mastercard and American Express; credit card processors like First Data; and banks like JPMorgan Chase and Wells Fargo — were to effectively set new rules for the sales of guns in America?
It looks like The New York Times is now pro-big business, if that business is big enough to pressure retailers in to doing what the NYT wants. This is more proof that “liberals” are not liberal and that they will do whatever is necessary to get their way. If big government can’t do it then they will pressure big business to do it. If this succeeds it will set a dangerous precedent.