| Radical anti-gunners at J.P. Morgan and Bank of America were just caught pressuring their client Intuit into enacting a policy that BANNED gun stores from using their payroll services. | | Thankfully, Senator Ted Cruz stepped up and led the repeal of this policy... | | … but with Operation Chokepoint leading to attacks on the gun industry via anti-gun financial services every day, Congress MUST enact stronger protections for our constitutionally protected rights. | | The Senate is currently considering the SAFER Banking Act (S.2860), but this bill does not sufficiently protect the gun industry or the right to keep and bear arms. | | Instead, Section 10 of the bill has numerous flaws in the statutory language that could result in nearly half of all gun stores in America losing access to financial services! | | With a vote on S.2860 possible as soon as next week, GOA needs YOU to act quickly to turn up the heat on the Senate before it’s too late. | | Specifically, we need you to contact your Senators and tell them to protect the gun industry by replacing Section 10 of S.2860 with the Fair Access to Banking Act (S.293) and to add the Second Amendment Protection Act (H.R.363) to the bill to protect the 2A rights of Americans who lawfully use Marijuana for lawful and medicinal purposes. |
| As it’s currently written, Section 10 of S.2860 is a disaster for gun owners. | | It barely restricts the actions of rogue federal bureaucrats while doing nothing to address the actions of anti-gun banks and other financial institutions who owe their continued existence to taxpayer bailouts and other government assistance. | | The bill also fails to provide a statutory definition of “unsafe or unsound practice in conducting business.” | | Gun owners know better than anyone how vague language can be redefined and weaponized through a simple rule change or agency definition! | | A rogue bureaucrat could blame firearm companies for the actions of criminals and wrongly declare that the industry categorically engages in “unsafe” business practices. | | An anti-gun regulator could suggest that if the ATF discovers one or two minor violations by a federally licensed gun store, it has an “unsound practice in conducting business.” | | The ATF has already used minor violations as an excuse to revoke a record number of FFLs and put those firearm dealers out of business! | | Section 10 of the bill also encourages bureaucrats to instruct financial institutions to de-bank members of the firearm industry if they suspect that a rule or even a “condition imposed in writing” has been violated. | | Without clarifying language, this statute could be interpreted in a way that makes mundane and simple mistakes – such as misspelling an abbreviation on a form – into federal crimes for which a gun store could now be penalized. | | The ATF’s data indicates that 45.5% of inspected FFLs committed these minor errors, meaning nearly HALF of all gun stores could be de-banked and lose access to financial services. And that means you will find it much harder to buy new guns from retail outlets! |
| Finally, the law also imposes strict liability on the firearm industry regardless of whether the business had knowledge they were dealing with “a threat to national security.” | | This gives the firearm industry little protection from the expansive and flawed list of “valid reasons” to deny a business financial services in the name of national security. | | Especially when criminals routinely lie to gun stores! | | Under Joe Biden, the federal government has been weaponized against gun owners, and many have been falsely slandered simply for standing up for their constitutional rights. | | It’s not a stretch to imagine an anti-gun bureaucrat falsely declaring that the entire gun industry poses a “threat to national security”... | | …and then recommending that America’s ENTIRE GUN INDUSTRY be stripped of access to financial services. | | There's still time for the Senate to fix this bill by replacing Section 10 with language from the Fair Access to Banking Act and adding the Second Amendment Protection Act. | | But we need YOU to contact your Senators right away. | | Aidan Johnston
Director of Federal Affairs
Gun Owners of America |
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