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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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Louisiana: House Passes Constitutional Carry, Now Headed to Gov. Landry’s Desk for His Signature

Wednesday, February 28, 2024

Louisiana: House Passes Constitutional Carry, Now Headed to Gov. Landry’s Desk for His Signature

Today, the House voted 75-28 to pass Senate Bill 1, the NRA-backed constitutional carry legislation that passed the Senate last week.

Washington: Two Anti-Gun Bills Advance Through the Legislature

Wednesday, February 28, 2024

Washington: Two Anti-Gun Bills Advance Through the Legislature

On Tuesday, February 27th, HB 2118, the “FFL Killer” passed the Senate, and SB 5444, "sensitive places" expansion, passed the House. Both bills were amended in the second chamber and now must return to their ...

Louisiana: Constitutional Carry Advances to the House Floor – Final Vote Imminent

Monday, February 26, 2024

Louisiana: Constitutional Carry Advances to the House Floor – Final Vote Imminent

Today, the House Administration of Criminal Justice Committee passed the NRA-backed constitutional carry legislation, Senate Bill 1, by a 10-3 vote. The bill now heads to the House floor for a final vote this week. SB 1 ...

Minnesota: Two Anti Gun Bills Scheduled to be Heard in Committee

Wednesday, February 28, 2024

Minnesota: Two Anti Gun Bills Scheduled to be Heard in Committee

On Thursday February 28th at 10:30 am, House File 601 and House File 4300 will be heard in Room 200 of the State Office Building by the Public Safety Finance and Policy Committee and the Children and ...

Maine: PETITION: Stand with Maine Gun Retailers

Monday, February 26, 2024

Maine: PETITION: Stand with Maine Gun Retailers

Gun Control groups are launching an all-out assault on the Second Amendment in Maine. Their most recent tactic?

Maine: Gun Registries, Red Flags, Universal Background Checks and more.

Tuesday, February 27, 2024

Maine: Gun Registries, Red Flags, Universal Background Checks and more.

It has been a busy week for Maine’s anti-gun politicians. From releasing a new bill that would implement Universal Background Checks and Red Flag laws in Maine, to Rep. Jared Golden (ME-02) pushing for a ...

Indiana: Pro-Gun Bills Pass the Senate

Wednesday, February 28, 2024

Indiana: Pro-Gun Bills Pass the Senate

Yesterday, the Senate passed House Bill 1084, The Second Amendment Privacy Act, a bill to prohibit the use of firearm-related Merchant Category Codes.

Colorado: Anti-Gun Bills Continue to Move through the State Legislature

Thursday, February 29, 2024

Colorado: Anti-Gun Bills Continue to Move through the State Legislature

Two anti-gun bills continue to move in the Colorado State Legislature. HB24-1174, introduced by Majority Leader Monica Duran (D-HD 23),  is set to be heard next week in the House Finance Committee. HB24-1310 , introduced by ...

Minnesota: "Assault Weapons" Ban Referred to the Committee on Public Safety Finance and Policy

Wednesday, February 14, 2024

Minnesota: "Assault Weapons" Ban Referred to the Committee on Public Safety Finance and Policy

On Monday, House File 3570 was referred to the House Committee on Public Safety Finance and Policy and would ban so called “assault weapons” by expanding upon an existing statute used to define these firearms. The bill ...

Colorado: Semi-Auto Ban Introduced in General Assembly

Wednesday, February 14, 2024

Colorado: Semi-Auto Ban Introduced in General Assembly

Anti-Gun extremist State Reps. Tim Hernandez (D-04) and Elisabeth Epps (D-06) introduced House Bill 24-1292, a bill banning the manufacturing, importing, purchasing, selling, offering to sell, or transferring ownership of so called “assault weapons”. 

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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.