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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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Friday, June 21, 2024

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Return to Paradise? Government of Turks and Caicos Amends Draconian Weapons Law

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Monday, June 24, 2024

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Monday, June 24, 2024

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NRA Scores Legal Victory Against ATF; “Pistol Brace Rule” Enjoined From Going Into Effect Against NRA Members

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Felonies Aren’t What They Used To Be

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Monday, June 24, 2024

Felonies Aren’t What They Used To Be

In recent years, many on the political left had encouraged use of the politically correct term “justice-involved individual” to refer to those convicted of, even serious, crimes. That is, until May 30. Upon that date, the great ...

The Trace Series Ends as it Began

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Monday, June 24, 2024

The Trace Series Ends as it Began

This is our final installment of a critical analysis of a podcast series from Michael Bloomberg’s online anti-gun propaganda mill, The Trace. 

Fallout from Trudeau’s Gun Grab: Crime is Up, Number of Gun Ranges Drops

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Monday, June 17, 2024

Fallout from Trudeau’s Gun Grab: Crime is Up, Number of Gun Ranges Drops

In Canada, a ban on over 1,500 firearm makes, models and variants, together with a mandatory government confiscation (“buyback”) requirement, was imposed by Liberal Prime Minister Justin Trudeau over four years ago. 

Kansas: Legislators Seize Special Session Opportunity to Start Discussion for 2025 Session

Wednesday, June 19, 2024

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Last month, Gov. Laura Kelly called a special session of the Kansas Legislature to deal with tax issues. The special session adjourned this week, lasting less than 24 hours. Despite the brevity, pro-gun Senators J.R. ...

U.S. Supreme Court invalidates ATF Rule Classifying Bump Stocks as Machineguns

Friday, June 14, 2024

U.S. Supreme Court invalidates ATF Rule Classifying Bump Stocks as Machineguns

Today, the U.S. Supreme Court held that the Bureau of Alcohol, Tobacco, Firearms and Explosives unlawfully exceeded its authority by classifying bump stocks as machineguns.

Delaware: Senate Committee Passes Legislation to Restrict Firearms on College Campuses and Properties!

Wednesday, June 19, 2024

Delaware: Senate Committee Passes Legislation to Restrict Firearms on College Campuses and Properties!

Last night, the Senate Judiciary Committee passed House Bill 311, restricting firearms on college campuses and college-owned properties, even for concealed carry permit holders. This legislation is now eligible for a floor vote. Please contact your state ...

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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.