Explore The NRA Universe Of Websites

APPEARS IN Legal & Legislation

Bill Seeks to Choke Off Anti-Gun "Choke Point"

Friday, July 31, 2015

Bill Seeks to Choke Off Anti-Gun "Choke Point"

Only July 30, The House Financial Services Committee marked up and passed out of committee H.R. 766, the Financial Institution Customer Protection Act, which was sponsored by Representative Blaine Luetkemeyer (R-MO). If this bill becomes law, the Federal Deposit Insurance Corporation (FDIC) would be required to inform banks that they are not prohibited nor discouraged from servicing customers in the firearms and ammunition industries.  H.R. 766 would also provide bank customers with the tools they need to help enforce these requirements.  The need for this legislation shows the severity of abuses taking place under Operation Choke Point (OCP), which the NRA has reported on here and here.    

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 at the heart of OCP. For example, the bill would require regulators that suggest or order a bank to terminate a customer’s account to have material reasoning, 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 OCP’s “high risk” target list. Regulating agencies would also have to submit annual reports to Congress documenting any such requests or orders. Finally, the bill would make important amendments to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which agencies have cited as authorization for OCP, to clarify the law’s scope so as conclusively to preempt this dubious justification.

In February, Rep. Luetkemeyer published excerpts of a FDIC whistleblower’s letter, which further substantiate the illegitimate ends of OCP, and proving the necessity of the bill. 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.” Even with such evidence, some may have difficulty believing (or accepting) the level of corruption in such regulatory over-reach, but it plainly does exist. 

Shortly after H.R. 766 passed out of the House Financial Services Committee, Rep. Luetkemeyer reported, “I am pleased a group of bipartisan Members of the Financial Services Committee showed there is a need to curb the abuse of authority seen in Operation Choke Point. This legislation needs to be codified into law so that federal agencies don’t fall into the illegal and abusive practices seen out of the FDIC and Justice Department. I hope this legislation is quickly brought to the floor so we can halt this unconstitutional and unprecedented program and return order and reason to financial institution examination processes.” 

The NRA would like to thank Representative Luetkemeyer for his steadfast support of the Second Amendment and the introduction of H.R. 766.

Please contact your U.S. Representative and urge him or her to cosponsor and support this important legislation. You can contact your U.S. Representative by using our Write Your Lawmakers tool or by phone at (202)224-3121.

 

TRENDING NOW
U.S. Politicians Cheer New Zealand Gun Confiscation

News  

Friday, March 22, 2019

U.S. Politicians Cheer New Zealand Gun Confiscation

American gun owners have once again been reminded that the ultimate goal of U.S. gun control advocates is firearms bans and confiscation. Since the heinous terrorist attack in Christchurch, New Zealand, American anti-gun politicians, activists, ...

Iowa: House Passes Bill to Improve Hunting Opportunities

Hunting  

Friday, March 22, 2019

Iowa: House Passes Bill to Improve Hunting Opportunities

On March 20th, the Iowa state House of Representatives voted 57-40 to pass House File 716 to improve hunting opportunities in Iowa by expanding the types of cartridges that may be used for hunting.  HF 716 will ...

Governor Bevin Signs NRA-backed Constitutional Carry

News  

Monday, March 11, 2019

Governor Bevin Signs NRA-backed Constitutional Carry

The NRA applauds Kentucky Governor Matt Bevin for signing Senate Bill 150 into law, an NRA-backed bill that fully recognizes the constitutional right of law-abiding gun owners to carry a concealed firearm.

NRA Praises Vermont Superior Court Decision on Magazine Bans

News  

Thursday, March 21, 2019

NRA Praises Vermont Superior Court Decision on Magazine Bans

NRA applauds the Vermont Superior Court for allowing a lawsuit challenging the State's ban on standard capacity magazines to proceed. 

Activist Court Turns the Law Designed to Protect the Firearm Industry from Frivolous Lawsuits on its Head

News  

Friday, March 15, 2019

Activist Court Turns the Law Designed to Protect the Firearm Industry from Frivolous Lawsuits on its Head

On Thursday, the Connecticut Supreme Court created a dangerous new exception to the Protection of Lawful Commerce in Arms Act (PLCAA), a strong safeguard for our right to keep and bear arms.  

Illinois Court Throws Out Deerfield Gun Ban

News  

Friday, March 22, 2019

Illinois Court Throws Out Deerfield Gun Ban

NRA applauds Illinois court ruling throwing out Village of Deerfield's ban on commonly owned firearms and magazines.

Alaska State Commission for Human Rights Director Attacks Human’s Rights

News  

Friday, March 22, 2019

Alaska State Commission for Human Rights Director Attacks Human’s Rights

The Last Frontier is also one of the last places one expects to find rights-trampling government officials. The state’s strong libertarian streak is one of the reasons a recent report regarding the authoritarian behavior of an official ...

Utah: Self-Defense Bill Heads to the Governor’s Desk as Multiple Gun Control Bills Fail at the End of Session

Thursday, March 21, 2019

Utah: Self-Defense Bill Heads to the Governor’s Desk as Multiple Gun Control Bills Fail at the End of Session

The Utah Legislature has adjourned from its 2019 Legislative session.

Legacy Media Push New Zealand Gun Confiscation Using Lies about Australian Ban

News  

Friday, March 22, 2019

Legacy Media Push New Zealand Gun Confiscation Using Lies about Australian Ban

The ongoing cheerleading effort by the international press in furtherance of the New Zealand government’s gun confiscation plans is enough to make any journalist with even a shred of objectivity blush. Worse, some outlets have ...

Nevada: Omnibus Anti-Gun Bill Introduced, Legislator Bill Introduction Deadline Extended

Monday, March 18, 2019

Nevada: Omnibus Anti-Gun Bill Introduced, Legislator Bill Introduction Deadline Extended

Today, Assembly Bill 291 was introduced by Assemblywoman Sandra Jauregui (D-41).  This omnibus anti-gun legislation is a threat to both gun owners residing in Nevada and those who are visiting. 

MORE TRENDING +
LESS TRENDING -

More Like This From Around The NRA

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.