Obama determined to stop banks from doing business with firearms retailers
Senator Rand Paul is attempting to prevent the Obama administration from making an end run around the Constitution.
On Thursday Paul introduced legislation to amend the Commerce, Justice, Science, and Related Agencies Appropriations Act for the 2015 budget.
The amendment would prohibit the federal government from providing funds to the Federal Deposit Insurance Corporation or Department of Justice to target gun and ammunition companies.
S.Amdt.3359 to H.R.4660 will prohibit “any action by the Federal Deposit Insurance Corporation to classify the sale or manufacture of a firearm or ammunition as an activity involving risk” and prevent “any action by the Department of Justice to discourage the provision or continuation of credit or the processing of payments by any financial institution to a manufacturer, dealer, or importer of firearms or ammunition, based on the fact that the business is a manufacturer, dealer, or importer of firearms or ammunition.”
The Justice Department is attempting to discourage the free exercise of the Second Amendment through its “Operation Choke Point.”
The FDIC is collaborating “at the behest of Barack Obama” with the DOJ to force gun stores out of business, according to Ammoland.com. “Already, scores of gun dealers have complained that their banks have cut their credit or otherwise put pressure on them.”
Infowars Nightly News reports on Justice Department’s Operation Choke Point.
“The Obama administration will stop at nothing to absolutely abolish the right of the people to keep and bear arms,” warned Joe Wolverton, writing for The New American.
In May Second Amendment advocates warned about federal financial service regulators intimidating banks in an effort to discourage business relationships with “high risk” merchants.
“These businesses are said to include, among others, payday lenders, escort services, producers of pornography, gaming interests, and purveyors of drug paraphernalia,” the NRA reported on May 2. “By leaning on the banks, so the theory goes, the regulators will cause them to sever relationships with these businesses, thereby choking off their cash flow and forcing them out of the market. While the early phase of the operation has reportedly focused on payday lenders and pornography interests, eventual targets are said to include sellers of firearms and ammunition.”
Rep. Darrell Issa (R-CA), Chairman of the House Oversight and Government Reform Committee, and Rep. Jim Jordan (R-OH), Chairman of the Economic Growth Subcommittee, sent a letter to Attorney General Eric Holder in January demanding further information on the program.
“Senator Paul’s amendment to the Commerce, Justice, Science, and Related Agencies Appropriations Act will likely be considered on Tuesday and if it becomes law, it would at least erase the latest of the dots that if finally connected, will separate the fundamental right to keep and bear arms from the protection of the Second Amendment,” Wolverton writes.