By: Friedrich Seiltgen
Copyright © 2023
Operation Choke Point, an anti-2A program initiated by President Obama in 2013, was designed to investigate banks and other financial institutions that did business with firearms dealers.
From the start, the law was seen as an attempt by the Obama administration to pressure financial institutions to cut access to banking services for firearms companies without proving the companies broke the law.
As with anything involving the government, the program required a lot of paperwork and oversight of financial institutions.
As the banks didn’t want the hassle, most firms stopped doing business with the gun industry.
In 2017, the program was shut down by the Trump administration, but the discrimination by the banking sector lingers.
In 2021, lawmakers in the Lone Star State enacted a new law prohibiting financial institutions from discriminating against gun manufacturers, or they would lose State of Texas accounts.
Ruger Arms, one of the largest firearms manufacturers in the nation, alleges that Wells Fargo discriminated against them, and they are asking the State of Texas to investigate why the Office of the Attorney General claimed they couldn’t find any discrimination.
In an open letter, Ruger wrote that Wells Fargo told them their credit line would not be renewed due to “reputational and headline risk.”
The letter stated:
“In 2021, Ruger had no debt, a large cash balance, decades of successful, cash-generating operations, and was experiencing unprecedented demand. The only reason ever provided to Ruger for declining to renew our credit facility is that we lawfully manufacture modern sporting rifles.”
State financial companies must submit a statement verifying they do not conduct discriminatory practices against businesses protected under Texas law.
Wells Fargo did file a statement of non-discrimination, and Ruger wants to know why the attorney general couldn’t find any given Wells Fargo statement.
“With all this as background, Wells Fargo’s verification that it does not discriminate against the firearm industry or a firearm trade association strains credulity,” Ruger wrote.
“Moreover, the Attorney General’s failure to meaningfully enforce this law renders it toothless, strips Texans of the protections afforded by the law, and empowers financial institutions to discriminate against a constitutionally protected industry while benefiting financially from the taxpayers of Texas.”
Ruger is asking state lawmakers to investigate why the Texas attorney general failed to find discrimination violations.
That’s all for now, folks! Please keep sending in your questions, tips, and article ideas. And as always – “Let’s Be Careful Out There.”
Friedrich Seiltgen is a retired Master Police Officer with 20 years of service with the Orlando Police Department. He conducts training in Lone Wolf Terrorism Counterstrategies, Firearms, and Active Shooter Response. His writing has appeared in RECOIL, www.floridajolt.com, The Counterterrorist Magazine, American Thinker, Soldier of Fortune, Homeland Security Today, Off Grid, and The Journal of Counterterrorism & Homeland Security International. Contact him at [email protected].