Obama Admin Goes after Gun through the Banks: Feds Attempt to put Gun Dealers Out of Business

Gun dealers and retailers around the country are being targeted by the Obama administration in an attempt to regulate them out of existence.

After failing to push their gun control agenda through congress, the Obama administration has decided to yet again sidestep the law and is using the banking system to target gun dealers. In their latest effort to kill the 2nd amendment the administration is working with the banks to cut off credit, freeze assets and prohibit online sales by gun dealers.

As part of their plan, the FDIC has labeled gun retailers as “High Risk”, putting them in the same category as businesses who sell drug paraphernalia. At the same time, the administration has the Justice Department launching an operation called “Operation Choke Point,” in which Eric Holder and the DOJ are attempting to force the banks into cutting their ties with gun dealers – even though these dealers have excellent credit and valid firearm licenses.

This administration has very clearly told the banking industry which customers they feel represent ‘reputational risk’ to do business with,” said Peter Weinstock, a lawyer at Hunton & Williams LLP. “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.”

Although this is finally getting some media attention, this tactic is not new and has been used by this administration for some time now. In fact, back in 2012 the McMillan Group faced similar pressure when Bank of America suspended their accounts because the company was in the firearms manufacturing business. At the time we assumed this was just another anti-gun company abusing their customers, but it looks like this may have been directly related to the Obama administrations attempt to use the banks to stop gun sales around the country.

According to an article by the Washington Times, gun retailers across the country are actively being targeted by the Obama administration, and over the last couple of months numerous companies have had their accounts frozen or suspended as part of “Operation Choke Point”.

  • T.R. Liberti, Owner and operator of Top Guns Firearms Training & Supply say their account was suspended and dumped by their bank last month. The bank told them that it “in in no way reflects any derogatory reasons for such action on your behalf. But rather one of industry. Unfortunately your company’s line of business is not commensurate with the industries we work with.”
  • Black Rifle Armory in Henderson, Nevada had their accounts frozen and were forced to stop taking online orders.
  • American Spirit Arms was unable to process orders after Bank of America froze all of their accounts – despite being customers in good standing for over 10 years.

On top of suspending or freezing accounts, a number of banks have put policies in place where they will no longer finance any firearms related business. In fact, GE Capital recently announced they were cutting ties with all firearms companies and would no longer finance gun purchases or gun businesses.

GE Capital, owned by General Electric, has a number of executives working either directly with or in the Obama administration. GE also owns MSNBC, the radical left wing news organization who routinely spreads Obama administration propaganda and has started a campaign to flood the airways with anti-gun stories.

Sen. David Vitter (R-La.), a member of the Senate Committee on Banking said, “There is a determined effort from [the Justice Department] to the regulators to cut off credit and use other tactics to force [payday lenders] out of business,” … “I find that deeply troubling because it has no statutory basis, no statutory authority.”

The Independent Community Bankers of America, an organization who represents the interests of the community banking industry, has also come out to condemn what the Obama administration is doing, specifically because it’s hurting small banks who would otherwise work with these firearms companies.

Is a statement the ICBA asked, “that the DOJ suspend Operation Choke Point immediately and focus its resources directly on businesses that may be violating the law, rather than targeting banks providing payment services.”

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14 Comments

  1. not coming for our guns huh? one way or another they will prevent us from having them, and one way or another they WILL get them, this just proves their resolve in disarming the American public.

    or should I say the American constitutional REPUBLIC.

    • Are you familiar with the Jesuits? Yeah, that Jesuits, same as Pope Francis’ boys. Majority owners of Bank of America. Jesuits are in control of the NWO. Not just another “conspiracy theory”, but a well-documented fact. Have you noticed how much positive publicity the Pope has received in recent months from the main-stream-media? Now you know why. Obama is ruled by Georgetown (Jesuit) ‘advisors’, also a proven fact. Know who your REAL enemies are. The Jesuit’s NWO has shifted into high gear, and we American citizens have been placed squarely in their crosshairs. Tyranny is promised for all who resist. Prepare yourself now, or forever be enslaved. Truth.

      • You must be out of your mind. Your going to pin the new world order on the Jesuits? If you believe this you must also believe the government is filled with reptilian aliens posing as our leaders. Some people will be live just about anything these days.

        • Agreed.
          Good god fearing Catholics and our Christian brothers are the backbone of the conservative right. What you are saying sir is nonsense.

    • You are a clown if you believe in the illuminati. They do not exist. People bring up illegitimate facts and junk science to try and prove that such an organization exists. Chasing conspiracy theories is a waste of time. You could be preparing for survival instead of looking into bogus theories.

      • You are the clown, as well as a fossilized Disinformation Troll. But you won’t succeed in your attempt to fool us. Crawl back into your hole and self-pleasure yourself with your picture of Barack the Fraud. We don’t listen to idiots like you.

  2. It sounds like it is time for all of the gun manufacturers to start their own credit union.

    In the interest of making their product choices more varied, they could offer to let anyone that owns firearms be a member.

    Just imagine if this happens how quickly people would “vote with their money” and move to the financial institution that reflects their views.

  3. When will we say Enough!? This criminal administration will stop at nothing to force their criminal agenda on us, so we must do the same.

    If all patriots were to stop paying taxes at the same time, the numbers would be too large for the government to manage. It may be the only way to fight back. The only other option I see is to join together as a nation and arrest and remove these criminals ourselves.

    • The second part is what i have been saying about health insurance for about a decade. Everyone should cancel their health insurance in one day. I thought of that way before aca/obamamcare, hell before obama was even heard of.

  4. Time for the NRA to start their own credit union and for all NRA members and businesses affiliated with the gun industry to boycott the criminal banks.

  5. It’s pretty simple folks. Follow the money all the way back to the federal reserve printing presses. If banks want there share of the gravy train the rules set forth are don’t do business with the firearms industry. This is pretty creatively evil of them. Although, it will only drive the creation of alternative financing. Banks who do not take government hand outs will be the beneficiaries of that industries business (billions). It won’t work for long they must know that? Question is why now? Is the balloon set to go up that soon?

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