When Congress decided not to take significant action after a spate of mass shootings this year and last, some big banks opted to take matters into their own hands by restricting financing for gun sellers.
Now, Republican lawmakers are pressing regulators to stop banks from doing so, over concerns they are veering too far into social activism. ...
Gun Owners of America tried, to use a financial regulation bill that the House passed this week as leverage to crack down on banks that it feels are discriminating against gun owners. In a letter to the House, it urged Republicans not to vote for the bill, which offers banks relief from the 2010 Dodd-Frank Act, unless those firms backed off the gun industry.
“Please do not support the Dodd-Frank reform legislation without the inclusion of an amendment that stops federally funded banks from discriminating against the lawful exercise of the Second Amendment,” said John Velleco, director of government operations at Gun Owners of America.