Posts Tagged financial industry

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.

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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?”

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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.

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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.

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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.

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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.

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