April 16, 2019
Senate Bill Seeks to Bring Freedom Back to Banking
Editor’s Note: The following opinion column appeared in The Hill on Monday, April 15 and this excerpt is reprinted with permission. To read the entire op-ed, follow the link at the bottom to read it at The Hill.
There’s something Orwellian about unaccountable corporate executives parsing over every purchase you make. It sounds “1984-ish,” but for the firearms industry, it’s a 2019 reality.
Some big banks are imposing their executives’ political views on companies by refusing to do business based solely on personal opinions of the lawful products these companies sell, found Danish bank and market research firm Sambla, who specializes its research in the lending and banking sectors. This means that should a product fall out of political favor with elites in corporate high rises, it’s going to be hard for those products to find their way to a shelf or a display case. This is reality for the firearms industry, including manufacturers, distributors, importers and retailers.
In response, Sens. Kevin Cramer (R-N.D.) and John Kennedy (R-La.) recently introduced the Freedom Financing Act, S. 821, which would strip large banks of taxpayer-funded insurance if they deny service to firearms businesses that are constitutionally-protected and compliant with all laws and statutes.
These senators are speaking out for responsible gun owners, gun manufacturers and firearm retailers threatened by big banks. Those banks are taking up a social activist mantle, mandating that the firearms industry follow baseless rules – even after those rules have been rejected in the legitimate policy process.
Read the entire op-ed here and see it as it originally appeared at The Hill.