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Pro-Gun Senate Bill Seeks to End Discrimination in the Financial Marketplace

Monday, February 13, 2023

Pro-Gun Senate Bill Seeks to End Discrimination in the Financial Marketplace

Operation Choke Point was just the beginning. That Obama-era scandal featured federal regulators who used their authority to lean on the banks and payment processors they oversaw to pressure them into severing ties with legal but politically-disfavored businesses. At the time, this concept was still considered shameful and overreaching enough for the agencies involved to claim it was all a big misunderstanding and to issue corrective” guidance once it was exposed. But to activists in and outside of government, the power of manipulating the financial services industry to achieve their objectives was just too tempting to ignore. Soon, they were openly calling for banks, credit card companies, and other financial service providers to set terms of service that openly discriminate against lawful firearm-related commerce, as well as other industries demonized by the far left. This makes the reintroduction of the Fair Access to Banking Act, led by U.S. Sen. Kevin Cramer (R-ND), all the more timely and welcome.

Banks, credit cards, payment processors, and the like all exist to serve the public and to keep the engine of Americas economy running smoothly. These industries are rightly subjected to government oversight, given the roles they play and the power they wield over the lives of ordinary Americans. But when politics and regulatory abuse infect their decision-making, markets get distorted and law-abiding businesses – often small businesses, in the case of the gun industry – suffer. Sen. Cramers bill seeks to shield the economy from manipulation by a small segment of powerful activists and ensure the financial services industry emphasizes objective factors like financial soundness, creditworthiness, and case-by-case risk assessment in its business decisions.

The bill is built around the principles of the Trump Administrations Fair Access to Banking Rule, which the NRA supported at the time. Joe Bidens Administration, however, put the finalized rule on indefinite hold, prioritizing politics over basic principles of fairness and non-discrimination. Like the Trump rule, the Cramer bill would require large national 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 prohibit financial service providers from using murky considerations of politics or reputational risk” to refuse business with creditworthy, law-abiding customers. And it would establish enforcement mechanisms with real teeth to ensure these standards are followed.

Americans who play by the rules and establish viable businesses deserve to know they will not be undercut by discriminatory tactics in the financial marketplace. These illegitimate practices risk the soundness of the American economy, stifle entrepreneurial impulses, and impose extra-legal restraints on Second Amendment activity. The NRA therefore commends Sen. Cramer and the 36 co-sponsors of his bill and commends it for swift action by the Senate.

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Monday, March 27, 2023

Seattle’s Gun Tax: A Textbook Case on the Law of Inverse Consequences

The law of inverse or unintended consequences refers to outcomes that are the reverse of the planned or expected results. As described in another context, “the law of unintended consequences could create a perverse effect contrary to ...

Florida: House Passes Constitutional Carry

Friday, March 24, 2023

Florida: House Passes Constitutional Carry

Today, the House voted 76-32 to pass House Bill 543, the constitutional carry bill.

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Monday, March 27, 2023

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Most Americans understand that our country has had a problem with a surge in crime over the last couple of years. In response, there has been a surge in gun purchases, and millions of law-abiding citizens ...

Updates to ATF Final Rule on Stabilizing Braces

News  

Monday, January 30, 2023

Updates to ATF Final Rule on Stabilizing Braces

On Monday, January 30, the Bureau of Alcohol, Tobacco, Firearms, and Explosives’ (ATF) published the final Factoring Criteria for Firearms with Attached “Stabilizing Braces” rule for public inspection in the federal register.

Biden’s Executive Order Targeting Gun Ownership

News  

Wednesday, March 15, 2023

Biden’s Executive Order Targeting Gun Ownership

On Tuesday, Joe Biden issued an executive order on gun control that could accurately be described as a mile wide and an inch deep.

Bloomberg and His Anti-Gun Apparatus Continue to Mislead Voters

News  

Monday, March 27, 2023

Bloomberg and His Anti-Gun Apparatus Continue to Mislead Voters

It’s no deep secret that anti-gun billionaire Mike Bloomberg will do anything, and at any cost, to promote his agenda of eradicating the Second Amendment. He launched an anti-gun organization, Mayors Against Illegal Guns, then ...

Colorado: Assault Weapon Ban Committee Hearing Scheduled!

Monday, March 27, 2023

Colorado: Assault Weapon Ban Committee Hearing Scheduled!

On March 29, the House Judiciary Committee is scheduled to vote on House Bill 23-1230 (“HB 23-1230”), which bans the manufacturing, importing, purchasing, selling, offering to sell, or transferring ownership of what the drafters have defined as ...

Florida: Senate’s Constitutional Carry Passes Committee

Thursday, March 9, 2023

Florida: Senate’s Constitutional Carry Passes Committee

Today, the Senate Fiscal Policy Committee voted 11-6 to approve Senate Bill 150, constitutional carry, with an amendment aligning the language with the House’s version. It will now go to the full Senate for further consideration.

North Carolina: VETO OVERRIDDEN

Wednesday, March 29, 2023

North Carolina: VETO OVERRIDDEN

Today, March 29, the House voted 71-46 to override Governor Cooper’s veto of Senate Bill 41, a bill that recognizes law-abiding citizens’ right to self-defense while attending a church with a school attached and also repeals the ...

Florida: 2023 Session Convened, Senate Committee Hearing Constitutional Carry

Wednesday, March 8, 2023

Florida: 2023 Session Convened, Senate Committee Hearing Constitutional Carry

Yesterday, March 7th, the Florida Legislature began the 2023 legislative session. Tomorrow, at 9:00AM, the Senate Fiscal Policy Committee will hear Senate Bill 150, the Senate’s constitutional carry bill.

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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.