Barely a decade ago all of the largest banks in the nation received bailout money from taxpayers in an effort to stave off an economic freefall. In repayment for assistance when they needed it, these banks are now using corporate boardrooms to push American public policy and take the decision making away from the citizens and elected officials they chose to represent them.
Some of the Largest Banks are Targeting Law Abiding Gun Owners
Both Citigroup and Bank of America have changed their corporate guidelines which will prevent law-abiding citizens from exercising their constitutional rights. Citigroup recently announced that they would not do business with companies that fail to limit gun owner rights. Their new policy dictates that all new clients and partners in the retail sector must prohibit the sale of standard-capacity magazines to citizens aged 18-20 years-old in an effort to curtail the gun ownership rights of Americans in that age group.
Citigroup’s Vice President of Global Public Affairs, Ed Skyler who was previously employed by the Michael Bloomberg administration, claimed that politicians have been too hesitant to trample on second amendment rights and they feel the need to “convene those in the financial services industry and other stakeholders” with the hopes “to leverage [the] collective action” of financial institutions in order to foist their restrictions on “all who sell firearms.”
Following suit, Bank of America has set their sights on curtailing second amendment freedoms by targeting firearm manufacturers. Vice Chairmen Anne M Finucane announced that the bank would no longer allow lending to firearm manufacturers that produce certain popular semi-automatic firearms.
Finucane went on to explain Bank of America’s position saying that they oppose the civilian use of firearms and will no longer allow financing for companies that create military-style firearms distributed for civilian use.
While recent studies have shown that this type of retail banning will do little unless combined with a required confiscation policy, Citigroup may be directing their retailers to go against the law by employing discrimination in retail settings to comply with their demands. For example, Michigan’s anti-discrimination statute, the Elliott-Larsen Civil Rights Act:
“bans age discrimination in retail sales, and § 37.2701 likewise provides that no person shall “[a]id, abet, incite, compel, or coerce a person to engage in a violation of this act” or “[w]illfully obstruct or prevent a person from complying with this act” or “interfere with a person in the exercise or enjoyment of … any right granted or protected by this act.”
Were a credit card company to cause retail companies to purposely discriminate against 18-to-20-year olds and restrict the enjoyment of their constitutional rights, they would be responsible for causing their customers to violate anti-discrimination laws throughout the U.S.
Citigroup Attacks Safety Measure Protecting Second Amendment Rights
In addition to the restrictions imposed on 18-to-20-year-olds, Citigroup has instructed their retailers to not sell a firearm to anyone who has not passed a background check. While federal law already requires a background check to be conducted, “instant” NICS background checks aren’t always instant and sometimes additional time is required to process a request.
To protect civilians from being deprived of their second amendment rights for a problem with the system, FFL dealers are allowed to proceed with the transfer of ownership of the firearm three business days after the check has been started. The FBI will then have 90 days to complete the process and if the firearm purchaser is deemed prohibited after the evaluations, the ATF will be contacted to retrieve the gun.
This safety system was created due to the FBI’s acknowledgment that delays can occur due to the fact that some government records were incomplete. In a 2016 NICS report, it was found that out of the 11% of background checks that experienced delays, only 1.2% resulted in denied purchases.
By requiring retailers to ignore the federal three-day safety provision they are not only leaving the purchaser with an indefinite waiting period for their firearm purchase but denying the rights of citizens who can legally own a firearm.
Fortunately for law-abiding gun owners, there are a few lawmakers in Congress who are supporting citizens’ second amendment rights and chastising the large banks for their behavior. Senator John Kennedy of Louisiana stated, “the very fact that Citi remains operational is due entirely to the generosity of the American taxpayer.”
He further went on to warn them about “penalizing Americans who choose to exercise their 2nd Amendment rights.”
It is essential that law-abiding citizens, along with politicians let these large banks know that they have no place dictating policies by restricting a citizen’s second amendment rights.
~ American Gun News
Have these banks give back the tax payer monies, since it is tax payers they are going against. Why is their ideas any better than the tax payer. If that’s the case have any bank delivered money with out armed guards.
I agree completely! These banks should be required to repay the bailout money immediately or face seizure of their holdings by the taxpayers.
These banks are turning down billions of dollars in potential revenue. The firearms industry is very lucrative and their money will be hard to replace. The next time they come begging for a bailout, we need to say a loud “NO”! Everyone needs to contact their representatives and tell them that there must be no more bailouts. If Citigroup and Bank of America end up crashing it’ll be because of their stupid decisions. We the taxpayers shouldn’t have to bail out organizations that are run by morons.
I’m in the process of closing all my bank of america accounts
I won’t do business with ANY bank, nor will I for the rest of my life. I do use a Credit Union for some banking activity, and find that resource to be more than adequate.
I also happen to be a hunter ( I own guns) and I was taught how to use weapons correctly by my father, my brothers and the US Army. I have also been a member of various Sporting Organizations during my lifetime and found them to all to be cognizant of the need for good weapons training.
I believe there are no shortcuts to being a responsible gun owner/user, and find that almost all members of National Sporting Organizations are very responsible owners/users. I believe the banks are listening to the Left, for a short period of time, to make them APPEAR to be something they are not.
Paul
Citi and BOA.
Two more banks, with whom my family and friends shall never do business.
Two of the most corruption involved banks think that they are going to save people from themselves
and tell us how we should spend our money. We the taxpayers were responsible for their existence to
serve us and our needs not us to serve their needs. Banks are supposed to serve our needs not tell us
how to live our lives.
I’ll fall back on the two-faced Lib’s shouting from the rooftops that you can’t discriminate against gays by denying business services, but it’s fine if the service denial is against gun owners or manufacturers/distributors…gay OR straight.
(Both Citigroup and Bank of America ) It just mite be time to boycott ties banks, we pulled them out we can put them down.
I’m a long time BofA customer. Switching two Wells Fargo. Keep your nose out of politics and concentrate on your business. Don’t tread on me!
these banks should never receive a dime of taxpayer money again!!
Maybe someone should look closely at the REQUIREMENTS the banks had to agree to in order to be BAILED out when the PEOPLE stopped supporting them and their attempts to impose their personal political agenda upon their customers instead of COMPLYING with non discrimination laws certain ANTI AMERICAN congress people most likely snuck in this nonsense as part of the conditions to be bailed out.
If they had stated these restrictions based on SPEECH they did not like instead of an INANIMATE object owned by well over 100 million US citizens over the action of less than 20 most of whom ILLEGALLY acquired the ones they used the liberals would be having a fit about how it was DISCRIMINATION to prohibit or restrict accounts based on them giving ANTI GUN or ANTI RELIGION speeches.
“In addition to the restrictions imposed on 18-to-20-year-olds, Citigroup has instructed their retailers to not sell a firearm to anyone who has not passed a background check. While federal law already requires a background check to be conducted, “instant” NICS background checks aren’t always instant and sometimes additional time is required to process a request.”
What this boils down to is POLITICIANS WHO LOST in their attempts to ABOLISH the first and SECOND amendments are trying to LEGISLATE BY BANK what they could not get done through congress.
The PROTECTION against anti gun POLITICIANS or EMPLOYEES pigeonholing background checks to prevent gun ownership is just part of what they are targeting.
They seem upset that COURTS ruled that the DELIBERATE DELAY (in one case that went to court several YEARS after the fact it still had not been run) to run the check violates the constitution and thus the PROTECTION of a time limit that is MORE THAN ADEQUATE was added allowing the sale. Remember UNTIL IT WAS IN THE MEDIA that the criminals were ILLEGALLY in possession and NO LAW would have stopped the crime because they already BROKE THEM to commit it their was virtually NO MASS SHOOTING done with LEGALLY acquired guns. After this fact became commonly known suddenly we have ones where they BY FAILURE OF COMPLIANCE WITH THE LAW BY GOVERNMENT AGENCIES passed the check. One they DELIBERATELY DELAYED until the FAIL-SAFE PROTECTION kicked in allowing the sale to go through and at least two other cases the GOVERNMENT AGENCY failed to report their CRIMINAL BEHAVIOR to the background check system.
Unless their computer system is BROKEN or TAMPERED WITH it takes less than 30 minutes per check this means the COMPLAINT of needing YEARS to run a check is BOGUS and nothing more than attempts to prevent LEGAL GUN OWNERSHIP. Meanwhile the CRIMINAL the person needs to DEFEND themselves against MAKES THEIR OWN or ILLEGALLY acquires one and commits the crime anyway.
Remember it was the ACLU that fought the attempt to make a CENTRALIZED database of CRIMINAL RECORDS claiming it was DISCRIMINATION against criminals to list ONLY THEM in the database as if ALL US CITIZENS had to be listed criminal or not in the database that had the sole objective of STREAMLINING criminal record checks like the BACKGROUND CHECKS for gun purchases the LAW HAS REQUIRED FOR YEARS.
Just look at LONDON and what is happening there now it is the POSTER CHILD the anti gun people waved around as the IDEAL UTOPIA of no one but the military having access to guns. They are now banning ANYTHING even REMOTELY able to be used as a weapon calling even PENCILS knives as they try to EXPAND on the GUN BAN as a way to stop criminals instead of focusing on the CRIMINALS who actually commit the crimes they are going after INANIMATE OBJECTS that are HARMLESS in everyday normal usage because a CRIMINAL chose to misuse them to harm others.
Remember stating that they will NOT DO BUSINESS with anyone who does not ACCEPT AND FOLLOW THEIR POLITICAL VIEWS despite what the LAW says on the issue is discrimination and AGAINST THE LAW it is no different than a business that refuses to serve people who do not follow the same RELIGIOUS BELIEFS as the owner.
LET THE BANKS TRY, THEY WILL LOSE MORE MONEY THAN THEY WILL GET, ALSO NOBODY IS GOING TO TELL ME WHAT TO DO OR IF I BUY WEAPONS, I SPENT 20 YEARS IN THE ARMY FIGHTING FOR THIS COUNTRY AND IF THEY CONTINUE TOWARD MAKING US VICTIMS THEN I THINK ITS TIME TO LEAVE THE USA
I already dumped Simli Safe Alarm system because they quit supporting the NRA. I will be closing all my accounts with both Citi and B of A. Boycott started, pass it along to your friends. Power to the taxpayer!!!