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Judi Lynn

(160,684 posts)
Sun Jun 24, 2018, 01:04 PM Jun 2018

Gun industry sees banks as new threat to 2nd Amendment

Source: Associated Press


Lisa Marie Pane, Associated Press
Updated 11:10 am, Sunday, June 24, 2018

GAINESVILLE, Ga. (AP) — With Gary Ramey's fledgling gun-making business taking off in retail stores, he decided to start offering one of his handguns for sale on his website.

That didn't sit well with the company he used to process payments, and they informed him they were dropping his account. Another credit card processing firm told him the same thing: They wouldn't do business with him.

The reason? His business of making firearms violates their policies.

In the wake of high-profile mass shootings, corporate America has been taking a stand against the firearms industry amid a lack of action by lawmakers on gun control. Payment processing firms are limiting transactions, Bank of America stopped providing financing to companies that make AR-style guns, and retailers like Walmart and Dick's Sporting Goods imposed age restrictions on gun purchases.

Read more: https://www.chron.com/news/crime/article/Gun-industry-sees-banks-as-new-threat-to-2nd-13021376.php

25 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Gun industry sees banks as new threat to 2nd Amendment (Original Post) Judi Lynn Jun 2018 OP
The Banks Hold All of the Cards in this Case--They Have the Resources dlk Jun 2018 #1
Ooh, right in the wallet! Marthe48 Jun 2018 #2
Viva la Revolution!!!! Maxheader Jun 2018 #9
Choke point! samir.g Jun 2018 #3
State of Georgia has a specific law Marthe48 Jun 2018 #6
Maybe the Banks Mr.Bill Jun 2018 #13
I can see that... Xolodno Jun 2018 #23
Money versus guns....LOL irisblue Jun 2018 #4
Reading the article Marthe48 Jun 2018 #5
Human being see gun industry as threat to being alive. flibbitygiblets Jun 2018 #7
Who would have guessed? A Revolution by corporate America Snellius Jun 2018 #8
I've read the 2nd amendment very carefully, Mr.Bill Jun 2018 #10
Only "well-regulated militias" not dick-worshiping gun nuts. Snellius Jun 2018 #11
Bravo, well done! Thanks for important news. Good on the bankers. appalachiablue Jun 2018 #12
Looks like the free-market came to bite the gun nuts in the ass. Crowman2009 Jun 2018 #14
Dead people don't make deposits? Turbineguy Jun 2018 #15
So how's that Free Market working out fer ya, Gary? Jake Stern Jun 2018 #16
How unusual for banks to take the moral high ground. bitterross Jun 2018 #17
Still, the industry believes it needs stronger laws against financial retaliation in the future. MicaelS Jun 2018 #18
And meanwhile these same people drray23 Jun 2018 #19
WTF world wide wally Jun 2018 #20
Not all the banks are on board Demobrat Jun 2018 #21
This is great, the gun industry needs to be taken down a few pegs. Initech Jun 2018 #22
Bottom line it's the power of their share holders, not their account holders. YOHABLO Jun 2018 #24
Free market system, people Takket Jun 2018 #25

Marthe48

(17,145 posts)
6. State of Georgia has a specific law
Sun Jun 24, 2018, 01:28 PM
Jun 2018

barring financial service companies from discriminating against gun makers? Really? They actually are so protective of the poor baby gun industry they made a special law?

I saw the term choke point in the story I read.

Mr.Bill

(24,376 posts)
13. Maybe the Banks
Sun Jun 24, 2018, 02:09 PM
Jun 2018

could retaliate against this law by just not doing any business in Georgia at all.

Xolodno

(6,414 posts)
23. I can see that...
Sun Jun 24, 2018, 05:22 PM
Jun 2018

...going to court.

But sad to say, it will probably take a mass shooting in Georgia with the bank in facilitating purchase in the hot seat.

Marthe48

(17,145 posts)
5. Reading the article
Sun Jun 24, 2018, 01:21 PM
Jun 2018

It seems ok for banks to shape policy in every other situation that affects individuals and benefits corporations, but it is NOT ok for them to limit financing for guns makers. Wow. Another hypocritical move.

Maybe Gary Ramey and his family can go back to the drawing board and reinvent the cotton gin. (Eli Whitney, who invented the cotton gin, also created weapons)

Snellius

(6,881 posts)
8. Who would have guessed? A Revolution by corporate America
Sun Jun 24, 2018, 01:37 PM
Jun 2018

Airlines that refuse to fly them. Banks that refuse to finance them. Restaurants that refuse to serve them. And who ask their workers what they vote to do. Like soviets.
Marx's head must be spinning in his grave.

Snellius

(6,881 posts)
11. Only "well-regulated militias" not dick-worshiping gun nuts.
Sun Jun 24, 2018, 01:53 PM
Jun 2018

who think mobs of dark people are going to cut it off.

Crowman2009

(2,507 posts)
14. Looks like the free-market came to bite the gun nuts in the ass.
Sun Jun 24, 2018, 02:15 PM
Jun 2018

They mistakenly assumed that this whole "Corporations are people" BS was not going to affect them.

 

bitterross

(4,066 posts)
17. How unusual for banks to take the moral high ground.
Sun Jun 24, 2018, 02:51 PM
Jun 2018

They must have run the numbers and found they'll lose more customers than the fees they'll make from people like Ramey.

I don't for one minute think the people who brought us the 2008 crash and just got the banking regulations rolled back more have suddenly grown a soul.

MicaelS

(8,747 posts)
18. Still, the industry believes it needs stronger laws against financial retaliation in the future.
Sun Jun 24, 2018, 02:59 PM
Jun 2018
"We may have to seek legislation to make sure it can't be done and that you can't discriminate against individuals from lawful exercise of a constitutional right," said Larry Keane, senior vice president and legal counsel for the National Shooting Sports Foundation, which represents gunmakers. "Imagine if banks were to say you can't purchase books or certain books aren't acceptable. That would be problematic and I don't think anyone would stand for that kind of activity by the banking industry."


Another law like the PLCAA.

drray23

(7,638 posts)
19. And meanwhile these same people
Sun Jun 24, 2018, 03:08 PM
Jun 2018

Support not allowing marijuana businesses to use the banking system. But of course, if a bank decides to not do business with gun manufacturers they are all bend out of shape.

Demobrat

(9,043 posts)
21. Not all the banks are on board
Sun Jun 24, 2018, 03:26 PM
Jun 2018

Wells Fargo continues to be the primary bank for the NRA. Their rationale- it’s not the bank’s place to set public policy. Yeah.

So I suspect the Gary Rameys of the world will have no problem finding someone to take their business.

Initech

(100,151 posts)
22. This is great, the gun industry needs to be taken down a few pegs.
Sun Jun 24, 2018, 03:39 PM
Jun 2018

The second amendment is not absolute! Of course knowing the NRA, they will simply pay off a few Congressmen to enact legislation that says banks can't do this. Fuck.

 

YOHABLO

(7,358 posts)
24. Bottom line it's the power of their share holders, not their account holders.
Sun Jun 24, 2018, 10:35 PM
Jun 2018

But we do make a difference.

Takket

(21,721 posts)
25. Free market system, people
Sun Jun 24, 2018, 10:39 PM
Jun 2018

if you don't like one bank's policies you can go to business with another one. That is free enterprise

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