How Financial Institutions can affect Gun Owners

When people talk about “gun laws” and “gun control” and a variety of other topics, rarely are they thinking about how banks and financial institutions can affect them. The two just aren’t connected in this discussion. But maybe they should be…

There was a brief post in The Florida Times in Jacksonville that talked specifically about this connection, “Lenders cannot prohibit service to gun shops, new Georgia law says.” Apparently, financial institutions can “make it difficult” for gun shops and other establishments associated with firearms to even open a checking account. According to them, there is an effort underway to make it more difficult for these organizations to get the needed services from some of these institutions.

House Bill 1060, sponsored by Sen. Jesse Stone, R-Waynesboro, is aimed at a strategy of the U.S. Department of Justice to pressure lenders not to do business with firearms dealers. Since the Second Amendment to the U.S. Constitution prohibits the government from halting gun sales, the Obama administration reportedly is trying to choke off the firearms industry by stopping the flow of capital any business needs.

Witnesses testified during a legislative committee hearing that even getting a checking account was difficult because of the federal program.

So when you think about your financial institution you might wonder if they are “gun owner friendly” or not…might be interesting to do some checking and see where they stand on a national level. With all the changes going on these days it’s hard enough to keep up on the individual laws and all their nuances. But when economics enter into the picture, this could strongly influence many gun laws.

While this might be an isolated situation, it’s one that is interesting and to keep in the back of your mind as you talk to your gun dealers and gun owners. If you asked them this same question about whether or not economics was playing a role in their rights as a gun owner, most would not know about some of these actions that are going on and trying to be passed without much notice.

Gun laws are tricky…mostly because they get worded in interesting ways and they can be pushed through either alone or buried in other bills. Yet the penalties for violating these gun laws are severe enough that it’s important to understand them. It’s one of the many responsibilities gun owners take on when they decide to own a firearm. Keep checking back with us, we try to uncover unusual situations happening locally and all around the country that can affect you, the individual gun owner, and even the gun dealers. This is just one of many situations that affect both.

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