Explore The NRA Universe Of Websites

APPEARS IN News

Pro-Gun Senators Urge Regulators to Protect Firearm Businesses from Discrimination

Monday, May 4, 2020

Pro-Gun Senators Urge Regulators to Protect Firearm Businesses from Discrimination

Recently, Sen. Kevin Cramer (R-ND) and 18 of his pro-gun colleagues in the U.S. Senate called upon the U.S. Treasury, Federal Reserve, and Small Business Administration (SBA) to protect law-abiding firearm businesses against political discrimination from banks and other financial institutions that administer the recently-enacted COVID-19 SBA loan programs.

In a letter dated April 28th, the Senators wrote: “[a] vocal but small minority has weaponized federally-backed banks against politically disfavored businesses that operate in good faith and compliance with the law, by denying them financial services based on political reasons that have nothing to do with creditworthiness. This includes the firearms and ammunition…industries.” They continued, “we are concerned the nation’s largest financial institutions will use participation in the Paycheck Protection Program and other SBA recovery loan programs to further financial discrimination policies against selected segments of the economy, based on their social policy and in opposition to SBA eligibility regulations.”

Their concerns are certainly justified, as we have long been reporting (see here, here and here) that some of the largest banks and financial institutions in the country have adopted corporate gun-control policies with the goal of preventing law-abiding Americans and businesses from exercising their constitutional rights. We’ve also recently witnessed financial relief programs specifically excluding all firearm businesses from eligibility. Many of the same institutions that discriminate against lawful firearm activity are now the clearinghouses for the COVID-19 SBA loan programs, reportedly picking up billions of taxpayer dollars for processing fees along the way.

The Senators’ letter also requests that the federal regulators provide clarity on how relief funds are being distributed in an unbiased manner, what directives are provided to the financial institutions about eligibility for lawful industries, and how conflicts between banks’ corporate gun-control policies that contradict SBA loan program eligibility are resolved.

Senator Cramer has been at the forefront of this issue as a member of the U.S. Senate Banking Committee, which has jurisdiction over matters related to banks and financial institutions. In addition to spearheading this letter, he has also introduced the Freedom Financing Act, legislation that would prohibit this type of discrimination against the firearms industry.

"Financial institutions are using exclusionary politics to attack the Second Amendment and discriminate against law-abiding firearm businesses,” said NRA-ILA executive director Jason Ouimet. “We thank Senator Cramer and his colleagues for their leadership on this important issue."

TRENDING NOW
NRA-ILA Backed Lawsuit Filed Challenging Oregon Measure 114

Thursday, December 1, 2022

NRA-ILA Backed Lawsuit Filed Challenging Oregon Measure 114

Today an NRA-backed lawsuit was filed challenging Ballot Measure 114, which voters passed by a slim margin last month. Measure 114 creates a falsely labeled “permit to purchase” a firearm requirement and bans standard capacity magazines, which it ...

Recent ATF Action Shows Need for Suppressor Reform

News  

Monday, March 14, 2022

Recent ATF Action Shows Need for Suppressor Reform

As we reported last week, the Bureau of Alcohol, Tobacco, Firearms and Explosives (“ATF”) denied approximately 850 Form 1 applications for prospective makers of suppressors on February 28. These denials were apparently made due to ...

NY AG James Sends Threatening Letter to Ammunition Sellers

News  

Monday, November 21, 2022

NY AG James Sends Threatening Letter to Ammunition Sellers

In a move that surprised absolutely nobody, anti-gun New York Attorney General Letitia James (D) announced last week that she would expand her assault on the Second Amendment by targeting ammunition sellers. AG James claimed, ...

Colorado: Broomfield City Moves to Adopt Gun Control Package to Diminish Second Amendment Rights!

Thursday, December 1, 2022

Colorado: Broomfield City Moves to Adopt Gun Control Package to Diminish Second Amendment Rights!

Earlier this week, Broomfield City Council advanced a gun control package to impose on law-abiding citizens.  The second reading will be held in January.  In truth, none of the slew of regulations will stop criminals ...

Maryland: Montgomery County Passes Carry Restrictions

Wednesday, November 16, 2022

Maryland: Montgomery County Passes Carry Restrictions

Maryland’s most anti-gun county has continued its tantrum, lashing out against lawful carry in the only way it thinks it can. Yesterday, the Montgomery County Council voted unanimously to pass Bill 21-22E, to remove the exemption ...

Public Lands Lawsuit Settled—All Lands Remain Open to Hunting

Thursday, December 1, 2022

Public Lands Lawsuit Settled—All Lands Remain Open to Hunting

In 2020, the U.S. Fish and Wildlife Service expanded hunting and fishing opportunities on more than 2.3 million acres of land. That decision was challenged in federal court, and the NRA, Safari Club International, Sportsmen’s ...

NRA Achieves Historical Milestone as 25 States Recognize Constitutional Carry

News  

Friday, April 1, 2022

NRA Achieves Historical Milestone as 25 States Recognize Constitutional Carry

Half the country will now enjoy the freedom to carry a handgun for self-defense without a permit from the state thanks to the tireless efforts of men and women of the National Rifle Association. 

ATF Mass Denial of Suppressor Form 1 Applications

News  

Monday, March 7, 2022

ATF Mass Denial of Suppressor Form 1 Applications

On February 28, the Bureau of Alcohol, Tobacco, Firearms and Explosives (“ATF”) denied approximately 850 Form 1 applications for prospective makers of suppressors. These denials were apparently made due to a change in ATF policy ...

Ohio: Emergency Powers Bill Advances to House Floor

Thursday, December 1, 2022

Ohio: Emergency Powers Bill Advances to House Floor

Today, the House Government Oversight committee voted 8-5 to pass Senate Bill 185, to guarantee that Second Amendment rights remain protected during emergencies. It will now go to the House floor for further consideration.

Hawaii: Honolulu Seeks to Severely Restrict Carry

Monday, November 28, 2022

Hawaii: Honolulu Seeks to Severely Restrict Carry

Tomorrow, Tuesday, November 29th, the Honolulu City Council will hear an ordinance to prohibit citizens from exercising their right-to-carry in many places. This is an attempt to ignore the U.S. Supreme Court’s NYSRPA v. Bruen ...

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.