Are Banks Weaponized Against Legal Gun Ownership?
In recent years, major banks have come under scrutiny for their role in targeting legal firearm ownership. The American Accountability Foundation (AAF) has shed light on how banks are cracking down on legal firearm ownership as Washington moves to nullify the Second Amendment.
The AAF Research Team highlighted the left’s use of certain banks to undermine Americans’ constitutional right to keep and bear arms. Banks have been targeting gun manufacturers, refusing them the right to take out loans based on subjective criteria rather than creditworthiness. This practice, dubbed “Debanked by the Banks,” has been identified at institutions such as Bank of America, Wells Fargo, JPMorgan Chase, and others.
One example showcased by the AAF is JPMorgan Chase’s decision not to bid on business with public entities in Texas due to legislative pressure. The bank, which had underwritten billions of dollars in municipal debt sales in Texas, found itself at odds with the state’s support for legal gun ownership.
This issue is not confined to the United States alone. In the UK, individuals like Nigel Farage have been debanked for speaking against the status quo. Media figures, such as Maria Zaric in Australia, have also faced deplatforming for their views. The trend of governments leveraging banks to suppress dissent extends beyond legal firearms to subjects like free speech and religious freedom.
Furthermore, the use of Central Bank Digital Currencies (CBDCs) raises concerns about privacy and government surveillance. With the ability to track transactions in real-time, governments could potentially monitor and control individuals’ financial activities without the need for intermediaries like banks.
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