Obama Forces Lenders to Cut Off Gun Sellers With ‘High Risk’ Label

20 May, 2014 by Warner Todd Huston

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Obama is sneaking a backdoor gun ban on the nation by pushing new regulations that forces banks and lenders to refuse to loan money to firearm oriented businesses. Calling their businesses “high risk,” this is just another defacto gun ban.

Despite the fact that every state now has its own concealed carry law and despite that more Americans than ever are supportive of our Second Amendment rights–hence why they’ve urged their states to enact those CC laws in the first place–Obama and his know-better-than-you liberal buddies are desperately looking for ways to destroy the Second Amendment and this is Obama’s newest way. Instead of having a real law directly addressing what he thinks is a great evil (the Constitution) he has enacted these backdoor regulations to take away our rights.

Gun retailers say the Obama administration is trying to put them out of business with regulations and investigations that bypass Congress and choke off their lines of credit, freeze their assets and prohibit online sales.

Since 2011, regulators have increased scrutiny on banks’ customers. The Federal Deposit Insurance Corp. in 2011 urged banks to better manage the risks of their merchant customers who employ payment processors, such as PayPal, for credit card transactions. The FDIC listed gun retailers as “high risk” along with porn stores and drug paraphernalia shops.

Meanwhile, the Justice Department has launched Operation Choke Point, a credit card fraud probe focusing on banks and payment processors. The threat of enforcement has prompted some banks to cut ties with online gun retailers, even if those companies have valid licenses and good credit histories.

Obama and pals such as buttinski, Nanny state king Michael Bloomberg, are losing their battle against guns. So, in order to win, they have to lie, cheat and work in backdoor ways to destroy our Second Amendment rights.

Of course it is unethical. Of course it is sneaky and hateful of our Constitution. But it is the only way they can make any headway.

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