Is the white house killing gun sales
POSTED: Monday, May 19, 2014 - 7:13pm
UPDATED: Monday, June 2, 2014 - 6:25am
Kelly Ridell has an interesting story in the Washington times.
A story I think is true.
Gun retailers say the Obama administration is trying to put them out of business with regulations and investigations that bypass congress and choke off their lines of credit, freeze their assets and prohibit online sales.
Since 2011, regulators have increased scrutiny on banks' customers.
In 2011, the Federal Deposit Insurance Corporation urged banks to better manage the risks of their merchant customers who employ payment processors, such as PayPal, for credit card transactions.
The FDIC listed gun retailers as "high risk" along with porn stores and drug paraphernalia shops.
You may remember Bank of America pulled their financing from one firearm maker.
After the dust settled boa said it was just a misunderstanding...but still....the mega bank is not back in business with the gun maker.
The Justice Department has launched Operation Choke Point, a credit card fraud probe focusing on banks and payment processors.
The threat of enforcement has prompted some banks to cut ties with online gun retailers, even if those companies have valid licenses and good credit histories.
I know people in the gun business locally, and I can tell you it's happening, especially with those little inserts you use on your smart phones like at gun shows and mom and pop business.
Congressional Republicans say the Obama administration is using its regulatory powers to shutter industries it doesn't like.
I think they are right.
That's my point of view what's yours?
You can email me at email@example.com or Facebook me at ketk neal barton.