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
Rep. Rob Bishop Introduces the "Lawful Purpose and Self Defense Act"

News  

Friday, May 26, 2017

Rep. Rob Bishop Introduces the "Lawful Purpose and Self Defense Act"

On Wednesday, May 24, 2017, Chairman of the House Committee on Natural Resources Rob Bishop (R-UT) introduced H.R. 2620, the "Lawful Purpose and Self Defense Act." This bill would remove ATF's authority to use the ...

Concealed Carrying Hits New High, Underscores Need for National Law

News  

Friday, May 26, 2017

Concealed Carrying Hits New High, Underscores Need for National Law

Information collected by the Crime Prevention Research Center (CPRC) indicates an unprecedented surge in the number of concealed carry permits, with the largest one-year increase on record occurring between May 2016 and May 2017.

Legislation Reintroduced to Permanently Dismantle Obama-Era Enforcement Abuse

News  

Second Amendment  

Friday, May 26, 2017

Legislation Reintroduced to Permanently Dismantle Obama-Era Enforcement Abuse

This week, Rep. Blaine Luetkemeyer (R-MO) reintroduced the Financial Institution Customer Protection Act, a bill aimed at permanently dismantling Operation Choke Point (OCP).  

Illinois: House Committee Passes Bill to Close Local Gun Dealers

Tuesday, May 16, 2017

Illinois: House Committee Passes Bill to Close Local Gun Dealers

The House Judiciary Committee passed Senate Bill 1657 by a 7-6 vote.

New Zealand Police Mislead Current and Prospective Gun Owners

News  

Thursday, May 25, 2017

New Zealand Police Mislead Current and Prospective Gun Owners

Back in April, NRA-ILA alerted readers to the results of the New Zealand Parliament Law and Order Committee’s “Inquiry into issues relating to the illegal possession of firearms in New Zealand,” which proposed that a ...

Nevada: Governor Sandoval Signs AB 118!

Monday, May 22, 2017

Nevada: Governor Sandoval Signs AB 118!

Today, May 22, Governor Brian Sandoval signed important pro-gun legislation, Assembly Bill 118, into law.  AB 118, sponsored by Assemblyman Skip Daly, will allow members of the military and those who have received an honorable ...

Public Health Researchers Use Common Gun Control Tactic to Mislead on “Children” and Guns

News  

Friday, May 26, 2017

Public Health Researchers Use Common Gun Control Tactic to Mislead on “Children” and Guns

It is one of the most well-worn tactics of those who advocate for gun control. Step one, acquire statistics on firearms injuries among children ages 0-14. Step two, combine these relatively low numbers with the ...

Court's Commonsense Conclusion: "There Was a Gun" Isn't Enough to Justify Issuing a Restraining Order

Second Amendment  

Friday, May 19, 2017

Court's Commonsense Conclusion: "There Was a Gun" Isn't Enough to Justify Issuing a Restraining Order

The Supreme Court of North Dakota confirmed this week that simply possessing a handgun while on one’s own private property cannot support a finding of "disorderly conduct" under the state’s disorderly conduct restraining order law. ...

Abbott Signs Senate Bill 16, Bringing Texas License To Carry Fees Down to Among Lowest in Nation

News  

Thursday, May 25, 2017

Abbott Signs Senate Bill 16, Bringing Texas License To Carry Fees Down to Among Lowest in Nation

The National Rifle Association Institute for Legislative Action (NRA-ILA) today applauded Texas Gov. Greg Abbott for signing into law NRA-backed legislation that will make license to carry fees in Texas among the lowest in the ...

South Carolina: Governor McMaster Signs Pro-Gun Bill

Monday, May 22, 2017

South Carolina: Governor McMaster Signs Pro-Gun Bill

Last Friday, May 19, Governor Henry McMaster (R) signed H. 3429 into law.  This bill went into effect upon the Governor’s approval.

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.