Gun Lobby Applauds President’s Executive Order Ending Banking Discrimination

Opinion

WASHINGTON, D.C. — NSSF, The Firearm Industry Trade Association, applauds President Donald Trump’s signing today at The White House the Executive Order Guaranteeing Free and Fair Banking for All Americans. Today’s executive order enforces a firearm industry priority to end banking discrimination against individuals and entities based on political beliefs. For years, members of the firearm industry have been denied banking and financial services by banks espousing “woke” anti-Second Amendment policies.

“President Trump is yet again delivering on his promise to protect Americans’ rights. This time by ensuring that banks cannot discriminate against firearm-related businesses based on unaccountable corporate executives trying to impose a “woke” gun control agenda beyond what the law requires,” said Lawrence G. Keane, NSSF Senior Vice President and General Counsel.

“American businesses, and firearm businesses in particular, must have fair access to essential banking services that are based on an objective criteria and creditworthiness. Politics should not enter into a bank’s lending decision. NSSF is encouraged that President Trump is today putting an end to ‘woke banking.’”

President Trump’s Executive Order highlighted attempts by the previous administration to illegally surveil Americans lawfully exercising their Second Amendment rights to keep and bear arms through the willing cooperation of corporate banks.

The president also noted the illegal “Operation Choke Point,” executed by the Obama administration, former U.S. Attorney General Eric Holder and the Department of Justice (DOJ), along with the Federal Deposit Insurance Corporation (FDIC), to deny essential banking services to firearm-related businesses based on an ill-defined and amorphous “reputational risk” criteria.

These banking discrimination efforts had a devastating effect on firearm-related businesses, both large and small. Recent news reports, though, show that banking regulators during the Biden administration continued to illegally pressure banks to refuse banking services based on politics. However, during the prior Trump administration, large banks free from regulatory pressure simply privatized “woke” banking policies against conservative groups including members of the firearm industry. This led to a proposed Fair Access to Banking rule by the Office of the Comptroller of the Currency (OCC) that the Biden administration stopped in January of 2021 before it could become effective.

NSSF continues to support Congressional efforts to codify these protections against banking discrimination by the Fair Access to Banking Act, introduced in the U.S. House of Representatives by U.S. Rep. Andy Barr (R-Ky.) as H.R. 987 and in the U.S. Senate by U.S. Sen. Kevin Cramer (R-N.D.) as S. 401 as well as the Firearm Industry Nondiscrimination (FIND) Act, introduced in the House by Rep. Jack Bergman (R-Mich.) as H.R. 45 and the Senate by Sen. Steve Daines (R-Mont.) as S. 137.

About The National Shooting Sports Foundation

NSSF is the trade association for the firearm industry. Its mission is to promote, protect and preserve hunting and shooting sports. Formed in 1961, NSSF has a membership of thousands of manufacturers, distributors, firearm retailers, shooting ranges, sportsmen’s organizations, and publishers nationwide. For more information, visit nssf.org