Sen. John Kennedy (R-LA) has introduced a bill intended to make the big banks back down from their attempts to strangle the Second Amendment in America. It’s called the “No Red and Blue Banks Act” (S. 3539) and it’s an important piece of legislation that deserves our attention in the current political climate.
Car dealerships, airlines and other companies have shredded contracts and disintegrated deals with the NRA in order to undermine gun ownership. New York’s anti-gun governor has used banks and regulatory agencies to attack firearms companies as well. Kennedy’s bill will hopefully restore some sanity on this issue.
It’s a weird time to be living in America as private companies move further and further into corporate fascism to benefit the anti-gun left. The social contract in America used to be that we would all agree to shut up in business transactions. We’ll sell you this widget and/or you can buy this widget from us, and we both agree to not bring politics into it. That social contract has been broken. That’s why Kennedy’s bill is vital.
In a nutshell, the No Red and Blue Banks Act would prohibit the federal government from awarding contracts to banks that discriminate against businesses solely on the basis of social policy issues. So, if a bank refuses to issue loans to companies that manufacture AR-15 parts, that bank no longer has access to the federal gravy train.
The language in Kennedy’s bill states “social policy issues,” rather than “gun companies” or something more specific, so it would presumably cover all business types. (Meaning banks also can’t discriminate against you if your business sells MAGA hats, or holds bake sales for a local church, or whatever.)
Back in March, Citigroup revised its corporate policy to try to force firearms companies to restrict sales to those over age 21, and to force companies to stop selling bump stocks and high-capacity magazines. Bank of America went even further in April, announcing that it would no longer lend to firearms manufactures who make semiautomatic rifles. Authorize.net, the largest credit card transaction company in the nation, cut off gun stores across the country this year.
Sen. Kennedy stated, “I want to make sure that the federal government isn’t rewarding this behavior with even more taxpayer dollars. I have already petitioned the General Services Administration to cancel the federal government’s $700 billion contract with Citigroup.”
Ouch!
Kennedy was no doubt inspired to propose the legislation at the federal level by lawmakers in his home state. The Louisiana Bond Commission effectively froze Citigroup and Bank of America out of a $600 million infrastructure project. Their message was very subtle:
“You a-holes are attacking the Second Amendment rights of our citizens, so go jump in a lake. You’re not getting any of our money for this bond project.” (That’s actually more of a paraphrase, no one said that.)
However, Louisiana’s State Treasurer John Schroder did say – and this is a real quote – “It is one of my duties to help hire financial professionals and not necessarily social engineers.”
State Rep. Blake Miquez said it even better, telling Citigroup’s head of Corporate Citizenship, “This is Louisiana. This is not California. This is not Canada. This is an infringement on Second Amendment constitutional rights in Louisiana.”
Bravo!
It’s bad enough that we have to constantly worry about politicians restricting gun rights in America. We shouldn’t have to worry that financial institutions will do the same. Credit card companies are now threatening to begin tracking gun sales. This would create a de facto gun registry that is out of the hands of the federal government – but still dangerous.
Who wants to live in America where your bank suddenly tells you it’s closing your accounts because you purchased too much ammunition during that Labor Day sale at the gun store?
Sen. Kennedy isn’t exactly a rising star in the Senate. He has a terrible voting record, as a matter of fact. He’s only been in the Senate for a couple of years. The only area where he has a 100% perfect voting record, according to Conservative Scorecard, is on the Second Amendment. He definitely deserves credit for the No Red and Blue Banks Act. Now we just have to convince the rest of Congress to pass the bill.
~ American Gun News
I love the sound of this. Can we think of a downside or a way it can backfire on us?
Since corporations are citizens, then are the civil rights of the gun companies being violated by these banks and governments? I guess so and that is part of the logic behind this bill.
I stand with Senator John Kennedy, the way Banks are being demanded to deny any Fire Arm Retailer. This is wrong.
One has to admit… discrimination against businesses supporting the Bill of Rights is a bit Anti-America.
How many CEO’s have cc’s and armed security around them 24/7??????????? And their SH^^T doesn’t stink BS.
I cancelled my credit card from CITI, including in the cancellation notice , the reason, which was their actions against firearm related businesses!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Banks are also making life difficult for Cannabis industry businesses in states where it is otherwise legal. Hopefully, in this case, this bill will also reign them in.
Clearly discrimination.
What those banks and companies are doing is outright discrimination. If the government took away the FDIC from those banks they would cease to exist or stop their discriminating tactics. If all republicans closed their accounts with all these banks and companies they would get what they deserve. This is a total outrage to the American public. Vote red in November.