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The Bill of Rights prevents the government from infringing on our civil liberties, such as the freedom of religion, freedom of speech, and the right to bear arms. But that doesn’t prevent the private sector from infringing on those civil liberties. Gun control advocates, thwarted by constitutional law, have a new idea for restricting firearm ownership: Pressuring banks and credit card companies to refuse transactions involving firearms.
From James Setterlund, Get Ready for a Financial Assault on the Second Amendment, in National Review:
California - Democrat - Maxine - Waters - Chairwoman
California Democrat Maxine Waters is the new chairwoman of the House Financial Services Committee. To judge from the party’s past behavior and the various proposals emanating from the left, Waters’s Democrats are going to pressure banks, credit unions, and payment companies to severely curtail and even terminate their relationships with firearm manufacturers, licensed gun retailers, and law-abiding citizens exercising their right to purchase and own firearms. In other words, they will use political pressure to force private institutions into creating social policy that threatens constitutional rights.
In 2013, senior banking officials at the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, with support from the Department of Justice, forced banks to dissolve their relationship with “high-risk” businesses the Obama administration found objectionable or face federal investigations, despite the legality of the businesses. Known as Operation Choke Point, the effort targeted industries including “firearms and ammunition sales, adult entertainment, check cashing, and short-term lending,” according to a report from the House Committee on Oversight and Government Reform.
Administration - Democrats - Congress - Role - Institutions
Without a complicit administration, Democrats in Congress will likely assume the role of pressuring financial institutions to cease transactions with businesses they deem unsavory, with the firearms community at the top of their list. Senate Democrats have already made this pressure explicit. Last year, Senator Brian Schatz penned a series...
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