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Thread: Targeted? Gun sellers say ‘high risk’ label from feds cuts off banking, restricts bus

  1. #1
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    Targeted? Gun sellers say ‘high risk’ label from feds cuts off banking, restricts bus

    "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. The Federal Deposit Insurance Corp. in 2011 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."

    http://www.washingtontimes.com/news/...bel-from-feds/

    TWT, as mainstream media, catches up with the alternative media that has been warning of this for months.
    I am responsible for my writing, not your understanding of it.

  2. #2
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    UPDATE! Lawmakers may rein in bank regulations hurting gun dealers

    "Rep. Blaine Luetkemeyer, Missouri Republican and vice chairman of the House Committee on Small Business, noted that the Federal Deposit Insurance Corp. has directed banks to apply extra scrutiny to “high risk” businesses — such as gun sellers, pornography shops and drug paraphernalia stores — that use payment processors such as PayPal for credit card transactions.

    “If the regulators continue down this path of picking entire industries rather than an individual bad actor, everything is on the table, including legislation,” said Mr. Luetkemeyer, who has pressed the Justice Department and the FDIC to allow some banks to serve legitimate businesses on the “high risk” list.

    http://www.washingtontimes.com/news/...s-hurting-gun/
    I am responsible for my writing, not your understanding of it.

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