The leading industry lobby group for the firearms industry recently asked its members to send in their data on a federal government initiative some say is targeting banks who do business with ammunition and firearms retailers.
The National Shooting Sports Foundation says the government is deliberately targeting firearms retailers as part of an overall government dragnet against businesses regulators deem “high risk.” Earlier this year, the Feds categorized firearms and ammunition businesses with porn companies, payday lenders and Ponzi schemes in a regulatory initiative dubbed “Operation Choke Point.”
The Justice Department along with the Federal Deposit Insurance Corporation, or FDIC, recently said there was a “misunderstanding” in the criteria for so-called high risk businesses and that lawful firearms and ammunition retailers would not be targeted. But the NSSF is asking its members to fill out a survey that asks if they’ve heard of “Choke Point” and whether they have been affected by it.
The point of the Justice/FDIC operation is to place banks who lend money to certain businesses through greater oversight by federal regulators, thereby “choking” off short term loans and credit card processing funds.
If you are a firearms retailer or manufacturer, be sure to take the NSSF survey to let them know how widespread this government intervention may have been.