Anti-gun banks?

[coloradokevin]

Have any of you run across a situation where you found that your financial institution was anti-gun?

One of my coworkers was talking guns with me the other day, and told me that he was setting up a bank account for his NFA purchases (I've never used that approach for mine, but his lawyer recommended it).

Anyway, he went to Chase Bank, where he currently banks, and wanted to get the account there. The name of his trust had the word "firearm" in it, and he apparently received a call from the bank the next day, telling him that it violated their policy to open an account for anything to do with firearms.

My friend told them that he would come by to close his accounts later that day, as he no longer wished to bank with them. Before he could do so, he received a call from the bank profusely apologizing, telling him that the decision was made in error.

Personally, I've never heard of this issue before. I actually used to work for Chase (though that was a LONG time ago), and we didn't have such a policy then. I have family members who work for the bank currently, and I still have an account there myself.

Just wondering if this is a subject that any of you have also encountered...

 

[X-Rap]

I think if you dig down deep you'll find most financial institutions to be tolerant at best. There are some exceptions, wasn't it the Bank of Boulder that had the Weatherby program?

Sent from my XT1254 using Tapatalk

 

[Drail]

Great story. I would loved to have seen the manager's face when he learned a customer was closing out accounts because of that stupid anti firearm policy.

 

[barnbwt]

Before he could do so, he received a call from the bank profusely apologizing, telling him that the decision was made in error.

Annnnd now a portion of the interest gleaned from said account will no doubt be funding anti-gun politicians and 'charitable' organizations for the duration. Sure showed them!

I'm sure the clueless employee was merely confusing 'deposit accounts' with 'business credit lines,' which there is ample evidence at this point to prove are being withheld from legitimate business owners by the major banks, at the behest of federal regulators (themselves at the behest of anti-gun politicians)

Trickle down gun control.

TCB

 

[OilyPablo]

Please learn all you can about Operation Choke Point

 

[Plan2Live]

This all goes back to "Operation Choke Point" and a list of businesses they published back in 2013 identifying certain "high risk" businesses. High risk as in high risk of money laundering. As I recall, firearms businesses engaging in the sale of firearms were on that list. The FDIC has since recalled the list but some banks are still taking a cautious approach. Here is a link to an American Bankers Association article touching on the withdrawal of the list. http://www.americanbanker.com/issues/179_144/fdic-withdraws-alleged-hit-list-of-high-risk-merchants-1069031-1.html

Defining "anti-gun" banks and other anti-gun businesses isn't an easy task. I have yet to see a single Wells Fargo branch with a No Carry sign posted but I am reasonably certain they have contributed to Bloomberg's anti-gun organization. The bank I work for doesn't have signs posted but the employee manual says no guns at work. Does that make them anti-gun or did the HR attorneys convince them they needed to establish this policy so they wouldn't be sued if some nut job comes to work and shoots up the place? I'm going with Door #2. Sometimes it's tough defining anti-gun.

 

[Steel Horse Rider]

We banked at Washington Mutual when they were bought out by Chase. I was never impressed by Chase's business practices and we soon moved our business to First Bank and have been very happy with them. We have three personal accounts there and three business accounts. I don't know if the bank has an official firearms policy but the VP at the branch I mostly deal with told me of a friend of hers who was trying to dispose of her deceased husband's gun collection because she thought I might be interested in some of them. Since it is a Colorado Bank I think it is worth looking into if you live here and are in search of a good financial institution.