It is no secret among Second Amendment advocates that big banks aggressively turned against the firearms industry in recent years.
Succumbing to political pressure from anti-gunners in power, these institutions seemed all too willing to yank their essential services from upstanding businesspeople. Companies suddenly found themselves frozen out of their credit accounts or charged exorbitant interest rates.
That day is over, thanks to an executive order signed last week by President Donald Trump (R).
Federal officials urged Wall Street to strip financial services from the weapons industry
Originating under former President Barack Obama (D), Operation Choke Point was the Executive Branch’s effort to squeeze firearm businesses out of existence.
The Wall Street Journal reported that the Department of Justice (DOJ) and the Federal Deposit Insurance Corporation (FDIC) subtly pressured firms to disengage from the industry. Government officials would claim that there were high risks involved in such financial relationships.
Somehow, these Second Amendment-related businesses were much higher risks for fraud and money laundering. Without proof, of course.
Second Amendment-related businesses deserve the full protection of the law
That’s because the vast majority of participants in the weapons industry are upstanding and law-abiding patriots who believe in personal freedom. Now comes the new executive order banning these Wall Street giants from discriminating against firearm dealers.
Advocates were horrified that the federal government could exert its overwhelming legal might to crush a legal economic sector.
Not only legal, but also protected by the Bill of Rights.
The National Shooting Sports Foundation (NSSF), the industry trade association, applauded the White House move. Senior Vice President and General Counsel Lawrence G. Keane noted that the “gun control agenda” promoted by anti-gunners should not interfere with financial services provided to law-abiding companies.
Remember, the upstanding businesses targeted by Wall Street were not accused of any crime, and the banks were not carrying out a program for the greater good. Instead, they merely bent the knee to powerful anti-gunners and ignored the Constitution.
At least, up until now.
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