In the aftermath of high-profile mass shootings, democrats along with corporate America has been taking a stand against the firearms industry amid a lack of action by lawmakers on gun control. Payment processing firms are limiting trades, Bank of America ceased providing funding to businesses that make AR-style guns, and retailers like Walmart and Dick’s Sporting Goods imposed age restrictions on firearms or have discontinued selling them altogether, which has a direct effect on firearms merchants.
The moves are applauded by democrats and other oppressive liberals but criticized from the gun industry that sees them as a backhanded way of undermining their Second Amendment rights. Gun industry leaders view the backlash as a true threat to their business and are coming back to the end that they want additional protections in Congress to stop financial retaliation from banks.
Pushback In the Firearms Industry
Republican Chairman of the Senate Banking Committee. Sen. Mike Crapo of Idaho sent letters criticizing Bank of America and Citigroup, which chose to restrict sales of guns by its business customers, over their brand-new gun guidelines in the wake of the Florida high school shooting in February.
“We should all be concerned if banks like yours seek to replace legislators and policy makers and attempt to manage social policy by limiting access to credit,” Crapo wrote to Citigroup’s chief executive.
When a firearms merchant discovered that neither Stripe nor Intuit would process payments through his website, he submitted a complaint with Georgia’s attorney general’s office, relying upon assistance from a state law which prohibits discrimination by financial support firms from the gun industry. But the state rejected it, saying that credit card processing isn’t considered a financial service under state law.
Firearms Merchant Solutions
The financial industry actions came amid a wider pushback by corporate America in the aftermath of the Parkland, Florida shooting. Delta and United Airlines ceased offering discounted fares to NRA members, as did the Hertz, Alamo and National rental car companies. First National Bank of Omaha, among the nation’s largest privately held banks, chose to not renew a co-branded Visa credit card using the NRA.
While firearm merchant accounts set up by the major payment processors like PayPal, Stripe, and Square are denied and funds frozen due to the ongoing fervor and government regulations surrounding the firearms industry, companies like 2nd Amendment Processing work on firearms merchants’ behalf to get electronic payment processing solutions for their firearms merchant account.
If you have felt the effects of these regulations within your firearms business, give us a call (833) -755-6696 and we will help you secure a firearms merchant account at the best rates possible. Get started with your free quote from 2nd Amendment Processing.