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Firearms Legal Protection

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Thread: Banks, Credit Card Companies Can End ‘Assault Weapon’ Sales by Withholding Finances

  1. #1
    Front Page News Moderator/Editor Smokepole's Avatar
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    Banks, Credit Card Companies Can End ‘Assault Weapon’ Sales by Withholding Finances

    And, customers can always choose another bank.

    Banks, Credit Card Companies Can End ‘Assault Weapon’ Sales by Withholding Finances

    By AWR Hawkins
    Breitbart
    February 20th. 2018



    On February 19 the New York Times suggested banks can go around Congress on gun control by refusing finances to stores and companies that deal in “assault weapons.” A similar approach, Operation Choke Point, was used by the Department of Justice during Barack Obama’s second term in office and has been targeted for closure under the Trump administration.

    On August 17, 2017, Politico quoted House Judiciary Chairman Bob Goodlette describing Operation Choke Point as “a misguided initiative.” Goodlette observed, “Law abiding businesses should not be targeted simply for operating in an industry that a particular administration might disfavor.”

    But NYT says banks and credit card companies could continue such policies by simply banding together against certain aspects of the firearms industry.

    NYT
    reports: “PayPal, Square, Stripe and Apple Pay announced years ago that they would not allow their services to be used for the sale of firearms.”

    They floated this possibility:

    Visa, which published a 71-page paper in 2016 espousing its “corporate responsibility,” could easily change its terms of service to say that it won’t do business with retailers that sell assault weapons, high-capacity magazines and bump stocks, which make semiautomatic rifles fire faster. (Even the National Rifle Association has said it would support tighter restrictions on bump stocks.)

    They continued, “If Mastercard were to do the same, assault weapons would be eliminated from virtually every firearms store in America because otherwise the sellers would be cut off from the credit card system.”

    The message is clear–if Senators and House Members stand for the Second Amendment instead of gun control, then circumvent those Senators and House Members via a monolithic approach to banking that omits any financial opportunity related to “assault weapons.”













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  2. #2
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    Ahh, yes, the picking of winners and losers (businesses) by the federal government ... sounds very familiar.

  3. #3
    Then the pro gun folks get together and figure out how to start our own bank. Problem solved.

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    Isn't that type of collusion illegal?

  5. #5
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    B. Hussein and Eric Holder were already pressuring banks to not do business with the gun industry years ago.

  6. #6
    Someone would surface to the serve the market... you can bet on it.

  7. #7
    Quote Originally Posted by Mkc451 View Post
    Someone would surface to the serve the market... you can bet on it.
    Exactly what I was thinking. There isn't a huge bank and credit card company dedicated to sportsman and firearms enthusiasts right now, not because it cannot be done, but because there's little to no incentive in doing it. Freeze us out and see how fast 10-15% of the consumer market ends up moving over to that new bank & credit card, wholesale.

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    Quote Originally Posted by DP425 View Post
    Exactly what I was thinking. There isn't a huge bank and credit card company dedicated to sportsman and firearms enthusiasts right now, not because it cannot be done, but because there's little to no incentive in doing it. Freeze us out and see how fast 10-15% of the consumer market ends up moving over to that new bank & credit card, wholesale.
    What about the financial "bank" company run by and previously owned by Cabela's? Now owned by Bass Pro Shops? They already own and operate a financial institution that will finance and lend for the purpose of buying and selling firearms.

  9. #9
    Quote Originally Posted by Smokepole View Post
    And, customers can always choose another bank.


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    That would mean that they would not do business with gun dealers like Cabala's and Walmart. Not very likely

  10. #10
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    Quote Originally Posted by 3rdcoach View Post
    That would mean that they would not do business with gun dealers like Cabala's and Walmart. Not very likely
    big businesses that only make a small percent of their money from selling primarily "hunting" guns... sure they'd still do business with them
    What about the small guy who has an FFL for his own fun, but does transfers on the side? would an anti-gun bank suddenly seize his assets and hand his info over to the LEOs to "investigate" the legality of his business? Would he have nowhere to make deposits? would he be able to run his or anybody else's credit cards after that?
    "Sec. 2. All persons who are commonly known as “Greasers” or the issue of Spanish and Indian blood, ... who go armed and are not known to be peaceable and quiet persons, and who can give no good account of themselves, may be disarmed by any lawful officer, and punished..." - Disarming of "Greasers", An Act to punish Vagrants, Vagabonds, and Dangerous and Suspicious Persons” California, passed April 30, 1855.

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