Unable to enact its gun control agenda through Congress, the Obama Administration appears to be using the regulatory power of the federal government to crack down on gun sales. Since 2011, the FDIC has increased enforcement actions against banks that do business with so-called “high risk” industries. Those industries include businesses that sell porn, drug paraphernalia, and now gun dealers as well. “This may be a way for the administration to implement their policy that they haven’t been able to do on a legislative front, so they’re looking at the regulatory front,” says John Heasley, president of the Texas Bankers Association.
In addition to the FDIC crackdown, the Justice Department has launched Operation Choke Point, aimed at banks and credit card companies that process transactions for “fraudulent merchants who harm consumers,” according to the DOJ. But the crackdown has also caused a chilling effect on banks doing business with gun retailers, even those who are legit. Patrick Woods from Spring Guns & Ammo tells KTRH that gun shops have fewer options to process credit card transactions.
I would hardly call gun stores “high risk” businesses; they’ve been enjoying a sales boom since the leftist medias’ chosen one assumed the Oval Office.
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