The tide is turning against Wall Street giants that openly discriminated against the firearm industry in recent years. Last week, another major outfit announced that it will toe the line and open its services to Second Amendment-related transactions.
Stripe is a significant player in payment processing and e-commerce. It previously denied access to its essential products to the weapons business.
That, however, was before President Donald Trump (R) signed the Executive Order in August mandating an end to these discriminatory practices. All is not perfect, to be sure, but the shot across the bow was heard.
Major financial services provider makes significant announcement related to the weapons industry
Stripe recently changed its practices to meet better the needs of an industry directly tied to the Bill of Rights. It announced the end of the controversial policies.
One letter sent to an industry member was shared with the National Shooting Sports Foundation (NSSF). “Stripe recently changed its policies to support businesses in the weapon space,” the missive read. “We have a limited number of businesses that were able to onboard and yours was identified as a top priority.”
The weapons industry and gun owners should not face discrimination for exercising constitutional rights
The industry trade association asked for direct confirmation from Stripe, and it was provided.
“Stripe has moved firearms and industry-related businesses from prohibited to restricted,” the company told the NSSF. “This means there is now an opportunity to support these businesses, but it will require a few extra paperwork steps with our risk team.”
The NSSF celebrated the change as “good news” but insisted that it will rely on the “trust but verify” approach moving forward. Anti-gunners had some success attempting to impose gun control through Wall Street financial giants, but those days appear to be numbered.
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