Stop Federally-Guaranteed Banks from Discriminating Against the Lawful Exercise of the Second Amendment

May 2, 2018 {ampz:social}

Dear Representative:

Two years ago, Congress passed an appropriations rider prohibiting the Obama administration from using the Operation Chokepoint program to cut off bank loans and other bank services to gun dealers and gun manufacturers.

The administration’s effort was clearly intended to strangle the exercise of the Second Amendment by shutting down gun dealers and manufacturers.

The theory was that the Second Amendment would become a hollow right without the availability of guns.

Now, several very large financial institutions — which are given quasi-monopoly status by federal regulation and which are protected by potential taxpayer bailouts — are trying to do the same. These include banks like Citigroup and Bank of America.

And among the policies they have implemented are policies refusing to provide certain banking services to businesses which lawfully offer the sale of semi-automatic firearms to lawful purchasers.

Businesses, generally, have a right to do business with whoever they want. But, as we said, these banks, in particular, have been allowed to conduct business as quasi-monopolies by federal regulation, and are guaranteed from failure by funds provided by the American taxpayer.

Now, these mega-banks have come before Congress to seek special exemptions from certain Dodd-Frank regulations. That bill is now pending in the House.

We would ask that you not allow the Dodd-Frank legislation (S. 2155) to pass the House without adding the following language: “No financial institution regulated under the provisions of this Act may discriminate against any person or entity based on the lawful exercise of Second Amendment rights.”

Thank you for considering our request.


John Velleco
Director of Government Operations

P.S. Please do not support the Dodd-Frank reform legislation (S. 2155) without the inclusion of an amendment that stops federally-funded banks from discriminating against the lawful exercise of the Second Amendment.