Explore The NRA Universe Of Websites

APPEARS IN News

Legislation Introduced to Break Administrative Choke Hold on Firearm and Ammunition Vendors

Friday, February 13, 2015

Legislation Introduced to Break Administrative Choke Hold on Firearm and Ammunition Vendors

In January, we reported on encouraging news that the Federal Deposit Insurance Corporation (FDIC) had taken steps to reassure banks that they are not categorically prohibited nor discouraged from servicing customers in the firearms and ammunition industries. Of course, the very fact that this should be considered newsworthy demonstrates just how bad the politically-motivated abuses of federal banking regulators, including but not limited to FDIC and Department of Justice (DOJ), had become. The supposed "enforcement" program at the center of this scandal, Operation Choke Point (OPC), has been the subject of considerable congressional attention. Recently, bills were introduced that seek to put a definitive end to the administration’s squeeze of what it considers "immoral" businesses operating within the law.

On Thursday, Sen. Marco Rubio (R-FL) introduced the Firearms Manufacturers and Dealers Protection Act of 2015. This bill would completely defund, in perpetuity,“Operation Choke Point or any other program designed to discourage the provision or continuation of credit or the processing of payments by financial institutions for dealers and manufacturers of firearms and ammunition.“ The bill expresses Senator Rubio’s strong conviction that “[w]e must stop this administration’s effort to target private industries and the 2nd Amendment rights of law-abiding citizens.”

Sen. Rubio’s bill followed Rep. Blaine Luetkemeyer’s (R-Mo.) re-introduction on February 5 of the Financial Institution Customer Protection Act. This legislation would institute numerous reforms to bring more transparency and accountability to federal oversight of banks, all aimed at preventing the sort of unchecked abuse of discretion at the heart of OPC.

For example, the bill would require regulators that suggest or order a bank to terminate a customer’s account to put the directive in writing, with reference to any specific laws or regulations the enforcement agency believed were being violated. Moreover, no such reason could be based solely on “reputational risk,” the supposed basis for including firearm and ammunition businesses within the scope of OPC’s “high risk” target list. Regulating agencies would also have to submit annual reports to Congress documenting any such requests or orders. Finally, the Act would make important amendments to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which agencies have cited as authorization for OPC, to clarify the law’s scope so as conclusively to preempt this dubious justification.

On Thursday, Rep. Luetkemeyer published excerpts of a FDIC whistleblower’s letter, which further substantiate the illegitimate ends of OPC. The individual wrote: “I am an employee of the Federal Deposit Insurance Corporation (FDIC). I was proud of my job and the FDIC’s mission before Operation Choke Point. During the past two years, however, we have been told to examine banks much more harshly, if they deal with a class of customers prohibited by Choke Point.” Some may have difficulty believing (or accepting) that the corruption inherent in using regulatory authority to attempt to destroy entire lawful industries could exist in the United States government. As unsettling as that idea may be, it cannot be ignored, and Rep. Luetkemeyer has systematically and courageously exposed and opposed it.

The NRA is grateful for the leadership of Sen. Rubio and Rep. Luetkemeyer on this issue, and encourages you to contact your U.S. Senators and Representative to voice support of the legislation to end OPC.

TRENDING NOW
Everytown and Hollywood Launch New Campaign Against Pro-gun Legislation

News  

Friday, October 20, 2017

Everytown and Hollywood Launch New Campaign Against Pro-gun Legislation

In the wake of the still-unfolding Harvey Weinstein scandal, one might have thought that America would receive a brief reprieve from Hollywood’s ceaseless moralizing. However, on October 18, 2017, Michael Bloomberg’s Everytown for Gun Safety, ...

Anti-Gun Billionaire George Soros Pumps $18 Billion into His Political Apparatus

News  

Friday, October 20, 2017

Anti-Gun Billionaire George Soros Pumps $18 Billion into His Political Apparatus

In recent years, Soros’s anti-gun efforts have been eclipsed by those of another billionaire, former-New York City Mayor Michael Bloomberg. However, the Open Society continues to attack American gun owners.

Anti-Gun Congresswoman Introduces Magazine Ban, Aims Slippery Slope at the Gun on Your Hip

News  

Friday, October 20, 2017

Anti-Gun Congresswoman Introduces Magazine Ban, Aims Slippery Slope at the Gun on Your Hip

We’ve been down this road before, and we know gun control doesn’t work. 

Bad News For “Universal” Background Check Supporters

News  

Thursday, October 19, 2017

Bad News For “Universal” Background Check Supporters

NRATV Host Cam Edwards describes a study that shows the ineffectiveness of so-called “universal” background checks

Oregon: Governor Signs Anti-Gun Bill into Law

Thursday, August 17, 2017

Oregon: Governor Signs Anti-Gun Bill into Law

Yesterday, Governor Kate Brown signed Senate Bill 719A.  Based on a California law enacted in 2014, SB 719A will create a so-called “Extreme Risk Protection Order” (ERPO) that could be obtained by a law enforcement ...

NRA Doesn’t ‘Buy’ Politicians, but Gun Controllers Do

News  

Friday, October 20, 2017

NRA Doesn’t ‘Buy’ Politicians, but Gun Controllers Do

Gun control supporters who peddle the myth about NRA money aren’t only wrong, they are ignoring team gun control’s own sordid history of buying politicians. And forget Michael Bloomberg for the moment, gun control supporters ...

Illinois: Urgent Action Needed – Numerous Anti-Gun Bills Readied for Consideration Next Week

Tuesday, October 17, 2017

Illinois: Urgent Action Needed – Numerous Anti-Gun Bills Readied for Consideration Next Week

Today, multiple gun control bills were released by the House Rules Committee and have been referred to the House Judiciary Committee for a hearing.

No Sale: Marketing Tricks in Gun Control

News  

Second Amendment  

Friday, October 20, 2017

No Sale: Marketing Tricks in Gun Control

Advertising professionals know that switching to a fresh new moniker and a more contemporary or dynamic logo can revitalize a tired or humdrum brand.

California: Governor Brown Signs Remaining Anti-Gun Bill

Sunday, October 15, 2017

California: Governor Brown Signs Remaining Anti-Gun Bill

Yesterday, Governor Brown signed Assembly Bill 424, the remaining anti-gun bill on his desk. 

Gun Banners Unmasked: The Vengeful Face of the Anti-gun Agenda Emerges Once Again

News  

Second Amendment  

Friday, October 13, 2017

Gun Banners Unmasked: The Vengeful Face of the Anti-gun Agenda Emerges Once Again

What happens to the 400 million or so firearms already in private hands? How does society actually benefit from his plan? Stephens doesn’t say. He apparently just trusts that things would eventually work themselves out ...

MORE TRENDING +
LESS TRENDING -
NRA ILA

Established in 1975, the Institute for Legislative Action (ILA) is the "lobbying" arm of the National Rifle Association of America. ILA is responsible for preserving the right of all law-abiding individuals in the legislative, political, and legal arenas, to purchase, possess and use firearms for legitimate purposes as guaranteed by the Second Amendment to the U.S. Constitution.