Explore The NRA Universe Of Websites

APPEARS IN News

OCC Finalizes Non-Discrimination Rule

Tuesday, January 19, 2021

OCC Finalizes Non-Discrimination Rule

On January 14, the Office of the Comptroller of the Currency (OCC) finalized an NRA-supported rule to end politically-motivated discrimination in the provision of financial services. The new regulation is now set to take effect on April 1.

As we reported last month, the rule follows a long pattern of banks refusing or curtailing service to lawful industries that have been targeted by political activists in and outside of the government. These have included businesses in the firearm and ammunition sectors.

Banks have tried to justify these actions against viable, financially-sound customers on the basis of reputation risk.” That is, even though the customersown financial houses are in good order, the bank insists it could suffer possible adverse consequences by transacting with them from angering those who oppose the customers products or activities.

Taken to its logical extreme, however, this means that the only businesses allowed to operate in the private sector would be those deemed acceptable by the social grievance lobby, which continually expands its targets and its demands. This small, vocal minority – whose members disproportionately come from elites in technology, media, entertainment, and academia – does not necessarily represent the will of the free market generally or of the body politic.

Nearly 7,000 comments were submitted in response to the rulemaking, including many by financially-sound firearm-related businesses that nevertheless have had difficulty finding or maintaining banking relationships.

The NRA submitted its own comment to the rulemaking, noting, Some of the most shameful episodes in our nations history have arisen from the systematic exclusion of certain American citizens from participation in the financial markets.” It wasnt just the ends sought by these tactics that were illegitimate and immoral, the comment argued, but the tactics themselves.

The NRAs comment also detailed how Second Amendment related businesses were specifically targeted by the Obama/Biden administration under Operation Choke Point, a government program that pressured banks to drop or curtail businesses with disfavored industries.

Once that wrongdoing was brought to light and discontinued, however, private activists put their own pressure on banks, insisting that they drop gun-related businesses or establish best practices” for gun industry customers that mirror the terms of longstanding but unsuccessful gun control proposals.

The comment additionally made the point that the handful of large national banks that would be affected by the rule enjoy considerable government subsidies and protections that limit the ability of new competitors to enter the market and challenge the dominance of the existing banks. These included, of course, massive taxpayer-funded bailouts following the financial crisis of 2008.

The NRAs comment further explained that activists would not lose their voices under the rule and could continue to advocate for whatever positions they support through other means, including through the legislatures and courts, which feature more deliberative and constitutionally-answerable procedures.

The finalized rule keeps intact the provisions most relevant to discrimination against Second Amendment related companies. In particular, it would require covered banks to provide fair access to all the products they offer to law-abiding customers who are able to satisfy predetermined quantitative, impartial risk-based standards.” It would also prohibit the banks from coordinating with others to deny … any person a financial service the covered bank offers.”

The new rule comes at a time when a variety of private institutions are making sweeping decisions to limit transactions with industries or even lone individuals that have incurred the wrath of political activists.

The OCC rulemaking draws a hard line at the use of financial exile as a political maneuver. Any American who believes in the basic principles of fairness and non-discrimination should welcome it.

TRENDING NOW
Biden Goes All in On Calls for Extreme Gun Control

News  

Monday, May 3, 2021

Biden Goes All in On Calls for Extreme Gun Control

President Biden dropped any pretense at “moderation” in his first address to a joint session of Congress since assuming the presidency.

Leaked ATF Rule Would Upend Firearm Industry

News  

Monday, April 26, 2021

Leaked ATF Rule Would Upend Firearm Industry

On April 20th, The Reload, published what appears to be a leaked draft of an ATF proposed rule.

Assault on Firearms Industry Continues

News  

Monday, May 3, 2021

Assault on Firearms Industry Continues

Joe Biden mentioned a number of the anti-gun goals...

Louisiana: Constitutional Carry Bills Have Now Passed Both Legislative Chambers

Wednesday, May 5, 2021

Louisiana: Constitutional Carry Bills Have Now Passed Both Legislative Chambers

Recently, the Louisiana House passed Constitutional Carry legislation, House Bill 596. 

Texas: Senate Passes HB 1927

Thursday, May 6, 2021

Texas: Senate Passes HB 1927

Early this evening, after more than 6 hours of debate and discussion on more than two dozen amendments, the Texas Senate passed House Bill 1927, constitutional carry legislation, on an 18-13 vote.

Kansas Legislature Overrides Gov.'s Veto of NRA-Backed Bill

News  

Monday, May 3, 2021

Kansas Legislature Overrides Gov.'s Veto of NRA-Backed Bill

The Kansas Legislature voted to override Gov. Kelly's veto of House Bill 2058, an NRA-backed bill that improves the ability of law-abiding gun owners to protect themselves and their families.

A Civilized Society

News  

Monday, May 3, 2021

A Civilized Society

Bloomberg columnist Sir Max Hastings shares his thoughts on guns, crime, and the differences between his native Britain and the United States in “I Grew Up on Guns. Now I’ve Learned to Love Firearm Control.”

South Carolina AG Wilson Wins Against Columbia Gun Control

Wednesday, May 5, 2021

South Carolina AG Wilson Wins Against Columbia Gun Control

On May 4th, the South Carolina Court of Common Pleas ruled in favor of Attorney General Alan Wilson, agreeing that the City of Columbia’s anti-gun ordinances violate the state’s preemption law.

The Games Gun Controllers Play

News  

Monday, May 3, 2021

The Games Gun Controllers Play

An ABC News/ Washington Post survey released on April 28th has several interesting findings, but the takeaways aren’t limited to specific datapoints. The survey, the results, and the media coverage demonstrate that so-called “gun violence” prevention ...

Guide To The Interstate Transportation Of Firearms

Gun Laws  

Thursday, January 1, 2015

Guide To The Interstate Transportation Of Firearms

CAUTION: Federal and state firearms laws are subject to frequent change. This summary is not to be considered as legal advice or a restatement of law.

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.