Banks Dump Gun Sellers
Feds go after funding.
Gun companies on all levels, from parts manufacturers to the local gun store, have seen banks back away from doing business with them because the federal government defined gun companies as “high risk.” The companies say the Department of Justice’s “Operation Choke Point,” a probe into credit card fraud, is an attack on the Second Amendment. Peter Weinstock, a lawyer with Hunton & Williams LLP, told the Washington Times, “This administration has very clearly told the banking industry which customers they feel represent ‘reputational risk’ to do business with. So financial institutions are reacting to this extraordinary enforcement arsenal by being ultra-conservative in who they do business with: Any companies that engage in any margin of risk as defined by this administration are being dropped.” The Obama administration never has made secret its contempt for Liberty. More…
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