Which Banks Are In, And Which Banks Are Out Of The Firearms Business?

BY Herschel Smith
2 weeks, 1 day ago

From WiscoDave, this:

Bloomberg reports that the $40 million is on top of $431 million Wells Fargo has issued to gun manufacturers since the December 14, 2012, Sandy Hook attack. This means Wells Fargo is not only bucking the corporate gun control trend in 2018 but has also withstood the firearm divestiture campaign that launched following Sandy Hook.

On April 15, 2018, Breitbart News reported that Wells Fargo stemmed the tide of the push for new financial restrictions on gun makers and sellers by stressing that it is not a bank’s job to set U.S. gun policy.  Reuters quoted Wells Fargo chief financial officer John Shrewsberry saying, “The best way to make progress on these issues is through the political and legislative process. In the meantime, Wells Fargo is engaging our customers that legally manufacture firearms and other stakeholders on what we can do together to promote better gun safety in our communities.”

Wells Fargo’s refusal to place new restrictions on gun manufacturers came shortly after Citigroup and Bank of America caved to the gun control push. On March 23, 2018, Breitbart News reported that Citibank issued new requirements whereby customers who own gun stores must stop selling long guns to anyone under the age of 21 and to quit selling “high-capacity” magazines as well. And Bank of America made clear they will no longer loan money to manufacturers that make “military-style firearms.”

But even though Wells Fargo hasn’t buckled yet, things are not so nice in banking land.

APOPKA, Fla. – Representatives from Fifth Third Bank visited Spike’s Tactical, a Florida-based firearm manufacturer, last Tuesday to inform them that the bank was discreetly planning to exit the banking sector for gun-related businesses.

According to Spike’s Tactical co-owner Angela Register, the bank representative informed her and their chief financial officer that their business line of credit would not be renewed and encouraged them to find a new bank to hold their accounts, even mentioning that their commercial mortgage should be transferred or it could potentially be called early.

The war continues, and all is proceeding just as I had foreseen.  Actually, it’s all proceeding just as the controllers said it would.  I just told you what the controllers said.  At some point, they’re going to come directly after owners as well.  Their intention is to drive manufacturers out of business from being unable to make payroll and enable their lines of supply and logistics.

The large manufacturers will have a difficult time of it, especially with the controllers buying up stock.  The small manufacturers, i.e., those who aren’t subject to public stockholders and whose employees own the company, and who enable their lines of logistics without the help of the large banks, will flourish.

I suspect Spike’s Tactical will come out of this okay if they can find a small bank who will take the mortgage.


Comments

  1. On October 8, 2018 at 9:58 pm, Georgiaboy61 said:

    Perhaps it is germane to this post, perhaps not – but a recent wave of “retirements” of longtime gunsmiths in my immediate area has me wondering if more-nefarious forces than Father Time are at work. As in the deep-state offering each of those ‘smiths a nice lump-sum cash payment to suddenly exit the firearms business. Paid for by your tax dollars, and non-disclosure agreements in full effect, of course. You never know….

  2. On October 9, 2018 at 1:30 am, Dan said:

    A mortgage is a contract. If this bank decides to “call in” the mortgage for ANY reason that isn’t listed in said contract then Spikes has cause to
    file a lawsuit for damages. Which is EXACTLY what they must do. In an
    honest court ( which is certainly not a guarantee) Spikes would win such a
    lawsuit handily. If I was Spikes and had my mortgage called I’d sue for the entire cost of said mortgage plus fees and punitive damages. Just as
    the left suffers nothing for engaging in libel, slander and character assassination because their targets never sue so too the banks are never held accountable by civil action. Start suing and these abuses will stop.

  3. On October 10, 2018 at 2:42 pm, Henry said:

    Fifth Third Bank has been a known wretched hive of liberal scum and anti-gun villainy for years now. Anyone in the gun industry depending on them for financial services just wasn’t paying attention to where he was walking.

RSS feed for comments on this post. TrackBack URL

Leave a comment


You are currently reading "Which Banks Are In, And Which Banks Are Out Of The Firearms Business?", entry #20097 on The Captain's Journal.

This article is filed under the category(s) Firearms,Guns and was published October 8th, 2018 by Herschel Smith.

If you're interested in what else the The Captain's Journal has to say, you might try thumbing through the archives and visiting the main index, or; perhaps you would like to learn more about TCJ.

26th MEU (10)
Abu Muqawama (12)
ACOG (2)
ACOGs (1)
Afghan National Army (36)
Afghan National Police (17)
Afghanistan (679)
Afghanistan SOFA (4)
Agriculture in COIN (3)
AGW (1)
Air Force (33)
Air Power (9)
al Qaeda (83)
Ali al-Sistani (1)
America (14)
Ammunition (52)
Animals (14)
Ansar al Sunna (15)
Anthropology (3)
Antonin Scalia (1)
AR-15s (132)
Arghandab River Valley (1)
Arlington Cemetery (2)
Army (66)
Assassinations (2)
Assault Weapon Ban (26)
Australian Army (5)
Azerbaijan (4)
Backpacking (2)
Badr Organization (8)
Baitullah Mehsud (21)
Basra (17)
BATFE (67)
Battle of Bari Alai (2)
Battle of Wanat (17)
Battle Space Weight (3)
Bin Laden (7)
Blogroll (2)
Blogs (12)
Body Armor (18)
Books (3)
Border War (8)
Brady Campaign (1)
Britain (35)
British Army (35)
Camping (4)
Canada (2)
Castle Doctrine (1)
Caucasus (6)
CENTCOM (7)
Center For a New American Security (8)
Charity (3)
China (10)
Christmas (9)
CIA (26)
Civilian National Security Force (3)
Col. Gian Gentile (9)
Combat Outposts (3)
Combat Video (2)
Concerned Citizens (6)
Constabulary Actions (3)
Coolness Factor (2)
COP Keating (4)
Corruption in COIN (4)
Council on Foreign Relations (1)
Counterinsurgency (216)
DADT (2)
David Rohde (1)
Defense Contractors (2)
Department of Defense (139)
Department of Homeland Security (20)
Disaster Preparedness (3)
Distributed Operations (5)
Dogs (12)
Donald Trump (2)
Drone Campaign (3)
EFV (3)
Egypt (12)
El Salvador (1)
Embassy Security (1)
Enemy Spotters (1)
Expeditionary Warfare (17)
F-22 (2)
F-35 (1)
Fallujah (17)
Far East (3)
Fathers and Sons (2)
Favorite (1)
Fazlullah (3)
FBI (26)
Featured (180)
Federal Firearms Laws (18)
Financing the Taliban (2)
Firearms (909)
Football (1)
Force Projection (35)
Force Protection (4)
Force Transformation (1)
Foreign Policy (27)
Fukushima Reactor Accident (6)
Ganjgal (1)
Garmsir (1)
general (15)
General Amos (1)
General James Mattis (1)
General McChrystal (42)
General McKiernan (6)
General Rodriguez (3)
General Suleimani (7)
Georgia (19)
GITMO (2)
Google (1)
Gulbuddin Hekmatyar (1)
Gun Control (791)
Guns (1,410)
Guns In National Parks (3)
Haditha Roundup (10)
Haiti (2)
HAMAS (7)
Haqqani Network (9)
Hate Mail (8)
Hekmatyar (1)
Heroism (4)
Hezbollah (12)
High Capacity Magazines (12)
High Value Targets (9)
Homecoming (1)
Homeland Security (1)
Horses (1)
Humor (16)
ICOS (1)
IEDs (7)
Immigration (71)
India (10)
Infantry (4)
Information Warfare (2)
Infrastructure (2)
Intelligence (23)
Intelligence Bulletin (6)
Iran (169)
Iraq (379)
Iraq SOFA (23)
Islamic Facism (58)
Islamists (88)
Israel (18)
Jaish al Mahdi (21)
Jalalabad (1)
Japan (2)
Jihadists (80)
John Nagl (5)
Joint Intelligence Centers (1)
JRTN (1)
Kabul (1)
Kajaki Dam (1)
Kamdesh (9)
Kandahar (12)
Karachi (7)
Kashmir (2)
Khost Province (1)
Khyber (11)
Knife Blogging (3)
Korea (4)
Korengal Valley (3)
Kunar Province (20)
Kurdistan (3)
Language in COIN (5)
Language in Statecraft (1)
Language Interpreters (2)
Lashkar-e-Taiba (2)
Law Enforcement (3)
Lawfare (6)
Leadership (5)
Lebanon (6)
Leon Panetta (2)
Let Them Fight (2)
Libya (14)
Lines of Effort (3)
Littoral Combat (8)
Logistics (50)
Long Guns (1)
Lt. Col. Allen West (2)
Marine Corps (252)
Marines in Bakwa (1)
Marines in Helmand (67)
Marjah (4)
MEDEVAC (2)
Media (41)
Memorial Day (4)
Mexican Cartels (26)
Mexico (35)
Michael Yon (5)
Micromanaging the Military (7)
Middle East (1)
Military Blogging (26)
Military Contractors (4)
Military Equipment (24)
Militia (5)
Mitt Romney (3)
Monetary Policy (1)
Moqtada al Sadr (2)
Mosul (4)
Mountains (23)
MRAPs (1)
Mullah Baradar (1)
Mullah Fazlullah (1)
Mullah Omar (3)
Musa Qala (4)
Music (16)
Muslim Brotherhood (6)
Nation Building (2)
National Internet IDs (1)
National Rifle Association (34)
NATO (15)
Navy (22)
Navy Corpsman (1)
NCOs (3)
News (1)
NGOs (2)
Nicholas Schmidle (2)
Now Zad (19)
NSA (3)
NSA James L. Jones (6)
Nuclear (56)
Nuristan (8)
Obama Administration (218)
Offshore Balancing (1)
Operation Alljah (7)
Operation Khanjar (14)
Ossetia (7)
Pakistan (165)
Paktya Province (1)
Palestine (5)
Patriotism (6)
Patrolling (1)
Pech River Valley (11)
Personal (53)
Petraeus (14)
Pictures (1)
Piracy (13)
Pistol (2)
Pizzagate (21)
Police (359)
Police in COIN (3)
Policy (15)
Politics (393)
Poppy (2)
PPEs (1)
Prisons in Counterinsurgency (12)
Project Gunrunner (20)
PRTs (1)
Qatar (1)
Quadrennial Defense Review (2)
Quds Force (13)
Quetta Shura (1)
RAND (3)
Recommended Reading (14)
Refueling Tanker (1)
Religion (146)
Religion and Insurgency (19)
Reuters (1)
Rick Perry (4)
Rifles (1)
Roads (4)
Rolling Stone (1)
Ron Paul (1)
ROTC (1)
Rules of Engagement (75)
Rumsfeld (1)
Russia (29)
Sabbatical (1)
Sangin (1)
Saqlawiyah (1)
Satellite Patrols (2)
Saudi Arabia (4)
Scenes from Iraq (1)
Second Amendment (239)
Second Amendment Quick Hits (2)
Secretary Gates (9)
Sharia Law (3)
Shura Ittehad-ul-Mujahiden (1)
SIIC (2)
Sirajuddin Haqqani (1)
Small Wars (72)
Snipers (9)
Sniveling Lackeys (2)
Soft Power (4)
Somalia (8)
Sons of Afghanistan (1)
Sons of Iraq (2)
Special Forces (27)
Squad Rushes (1)
State Department (19)
Statistics (1)
Sunni Insurgency (10)
Support to Infantry Ratio (1)
Supreme Court (3)
Survival (20)
SWAT Raids (54)
Syria (38)
Tactical Drills (1)
Tactical Gear (3)
Taliban (167)
Taliban Massing of Forces (4)
Tarmiyah (1)
TBI (1)
Technology (16)
Tehrik-i-Taliban (78)
Terrain in Combat (1)
Terrorism (94)
Thanksgiving (7)
The Anbar Narrative (23)
The Art of War (5)
The Fallen (1)
The Long War (20)
The Surge (3)
The Wounded (13)
Thomas Barnett (1)
Transnational Insurgencies (5)
Tribes (5)
TSA (16)
TSA Ineptitude (11)
TTPs (1)
U.S. Border Patrol (5)
U.S. Border Security (14)
U.S. Sovereignty (17)
UAVs (2)
UBL (4)
Ukraine (3)
Uncategorized (54)
Universal Background Check (3)
Unrestricted Warfare (4)
USS Iwo Jima (2)
USS San Antonio (1)
Uzbekistan (1)
V-22 Osprey (4)
Veterans (2)
Vietnam (1)
War & Warfare (216)
War & Warfare (40)
War Movies (3)
War Reporting (18)
Wardak Province (1)
Warriors (6)
Waziristan (1)
Weapons and Tactics (59)
West Point (1)
Winter Operations (1)
Women in Combat (20)
WTF? (1)
Yemen (1)

October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006

about · archives · contact · register

Copyright © 2006-2018 Captain's Journal. All rights reserved.