Shooting Sport-Friendly Banks?

[LadyShooter]

Um, re: Wells Fargo.. quoted from the article posted in the start of this thread..

Vice President of Business Banking at Wells Fargo, called Friday Nov 2nd to alert Mr. Maddox, owner of BMADDOX ENTERPRISES, that Wells Fargo would not extend business credit or loans to any firearms related business, period.“Your credit is impeccable and your business model is sound, but our corporate legal department will not allow us to extend credit to any business related to firearms. We understand you are fully licensed under federal and state law, although…the corporate directive is still no.”"

[H2obouget]

This is all coming from a mandate from on high from the FDIC.

Firearms sales were classified as "Risky Investments" a few years ago.
http://www.washingtonpost.com/news/volo ... oke-point/
http://www.bizzyblog.com/2014/05/02/est ... oke-point/

The FDIC’s list of 30 high-risk merchant categories that are currently being pursued by the DOJ.

Ammunition Sales
Cable Box De-scramblers
Coin Dealers
Credit Card Schemes
Credit Repair Services
Dating Services
Debt Consolidation Scams
Drug Paraphernalia
Escort Services
Firearms Sales
Fireworks Sales
Get Rich Products
Government Grants
Home-Based Charities
Life-Time Guarantees
Life-Time Memberships
Lottery Sales
Mailing Lists/Personal Info
Money Transfer Networks
On-line Gambling
PayDay Loans
Pharmaceutical Sales
Ponzi Schemes
Pornography
Pyramid-Type Sales
Racist Materials
Surveillance Equipment
Telemarketing
Tobacco Sales
Travel Clubs

So basically, the government has stepped in and said that, while these industries make HUGE amounts of money....we're going to put hurdles in their way because they MIGHT BE used for illegal means.
I find the following list very interesting especially the bolded ones:
Ammunition Sales - Government Regulated
Coin Dealers
Credit Repair Services
Dating Services
Drug Paraphernalia
Escort Services
Firearms Sales - Government Regulated
Fireworks Sales
Government Grants - Government Funded
Home-Based Charities
Life-Time Guarantees
Life-Time Memberships
Lottery Sales - Government Funded
Money Transfer Networks
On-line Gambling
PayDay Loans
Pharmaceutical Sales - Government Funded
Pornography
Surveillance Equipment - Government Funded
Tobacco Sales

[LadyShooter]

All I can say is... Wow.

[Pablo]

It boggles my mind some people have not heard of Operation Choke point. I mean I know libs have not heard of it, but gun owners????

http://en.wikipedia.org/wiki/Operation_Choke_Point

http://www.foxnews.com/politics/2015/03 ... operation/

Obama yay!!!!!

[LadyShooter]

Sorry, I'm a new gun owner.

[Pablo]

Sorry, I'm a new gun owner.

No need to apologize. My comment was not directed at you.........actually more toward many, many gun owners who profess to be politically active. WE SHOULD BE STINKING LIVID AS AMERICANS ABOUT SUCH ABUSES OF POWER!! Terrible, terrible thing really.

[Eagle Chaplain]

Sorry, I'm a new gun owner.

No need to apologize. My comment was not directed at you.........actually more toward many, many gun owners who profess to be politically active. WE SHOULD BE STINKING LIVID AS AMERICANS ABOUT SUCH ABUSES OF POWER!! Terrible, terrible thing really.

I am looking forward to being more politically active when I get back to Washington this Summer. I was dumb founded when this first started. Unfortunately I see the new Attorney General continuing down this path.

[H2obouget]

Sorry...didn't mean for that to derail the thread.

Anyone got a Bank or Credit Union that is 2A Business Friendly?

Anyone know about Timberline, Heritage, or Columbia banks?

[joao01]

I would think if possible, it would be wise to find a large bank that is less likely to be bought out by another and possibly have the T&Cs change on you.

USAA or Navy Federal I would think would probably work with you, but I don't know for sure. Navy Federal has a branch near Graham, and USAA doesn't really have any branches.

USAA is probably easier to qualify for. Even if you were not military, you are probably elligible if anyone in your family was.

[Oleman]

I'm serious about this question.

A bank who I have been using for the past 4 years just told me that their underwriters will not lend to a business in an "Undesirable" industry.

"It would not look good in their portfolio"

If anyone knows of a bank local, regional or national that supports us, please post or PM me with that information.

Obomba operation choke point. I thought these ass holes said they were going to stop this?

[Eagle Chaplain]

I'm serious about this question.

A bank who I have been using for the past 4 years just told me that their underwriters will not lend to a business in an "Undesirable" industry.

"It would not look good in their portfolio"

If anyone knows of a bank local, regional or national that supports us, please post or PM me with that information.

Obomba operation choke point. I thought these ass holes said they were going to stop this?

You actually believed a politician would do what they said??

[H2obouget]

I'm serious about this question.

A bank who I have been using for the past 4 years just told me that their underwriters will not lend to a business in an "Undesirable" industry.

"It would not look good in their portfolio"

If anyone knows of a bank local, regional or national that supports us, please post or PM me with that information.

Obomba operation choke point. I thought these ass holes said they were going to stop this?

Just because the Feds stopped, doesn't mean that the banks bothered to change the policies they created to be in compliance.

[tigershark]

Take this for what it's worth. I heard about this awhile ago. FDIC is backing off on "Operation Choke Point".

http://www.washingtonpost.com/news/volo ... oke-point/

This was also referenced by my banker.

[dogfish]

Banker/ commercial lender here. I bank one firearms manufacturer and a gun store. Happy to bank more shooting related companies.

[os2firefox]

I recall there was a large gun related business that was dropped by their bank because they were in a undesirable business. They ended up creating their own bank that will serve other business in the firearms industry.

Edit - nvm, it was just a cc processing system

Last edited by os2firefox on Fri May 08, 2015 4:36 pm, edited 1 time in total.