“I was told my finances were fine and history was spotless, however they could not approve me because I sell guns,” states Mark Cohen, the owner of Powderhorn Outfitters, based in Hyannis, Mass, who was recently denied credit through his bank, TD Bank, despite their long history working together.
Operation Choke Point is the fascist creation of Obama and Holder to bypass the Constitution and ‘eliminate’ businesses they don’t like. And, of course that includes gun stores.
They simply, through the Dept. of Justice, have a business industry declared ‘high risk’ and any business within that industry can’t get financing.
A Massachusetts gun store is the latest victim of Operation Choke Point, a Department of Justice and Federal Deposit Insurance Corporation initiative that limits banking access for industries it deems “high risk,” the store’s owner claims.
“Recently I applied for a line of credit and was informed I was declined,” wrote Mark Cohen, the owner of Powderhorn Outfitters, based in Hyannis, Mass.
Cohen said he and his company, founded in 1978, were longtime customers of TD Bank.
“I was told my finances were fine and history was spotless, however they could not approve me because I sell guns.”
“Taken aback,” Cohen said he closed his accounts with the bank and then did some research. He discovered Operation Choke Point, an initiative that arose from the Financial Fraud Enforcement Taskforce, formed in 2009. With a stated goal of targeting fraudsters and scammers, the initiative created a list of industries that it deemed “high risk”.
The policy “groups gun manufacturers or dealers with Pot Dispensaries and the Porn Industry!” wrote Cohen.
By doing business with companies in “high risk” industries – which, according to a 2012 FDIC directive, include online tobacco, online gambling-related operations and payday lenders — banks invite further scrutiny from federal agencies. To avoid this, many banks merely drop customers in those industries.
Earlier this year, numerous adult film stars were notified that their banking accounts were suspended because of their line of work.
“In lieu of taking away our guns, they are placing these labels on us in an effort to remove funding for gun manufacturing,” wrote Cohen.
Earlier this month, the Washington Times, which has covered the issue in depth, listed a number of small gun retailers whose banks have “choked” their banking access.
“This letter in no way reflects any derogatory reasons for such action on your behalf. But rather one of industry. Unfortunately your company’s line of business is not commensurate with the industries we work with,” read a letter sent from BankUnited N.A. to the owner of the Miami-based Top Gun Firearms Training & Supply, according to the Washington Times.
Some in the banking industry are critical of the regulation as well.
“We’re being threatened with a regulatory regime that attempts to foist on us the obligation to monitor all types of transcations,” wrote Richard Riese, a senior vice president at the American Bankers Association, in an article last month, the Times noted.
THIS IS OUTRAGEOUS !!! WHY ARE THESE PARTNERS IN CRIME AGAINST THE AMERICAN PEOPLE STILL IN OFFICE? THE HOUSE AND CONGRESS NEED TO ALL BE SLAPPED IN THE FACE AND YANKED OUT OF THEIR POSITIONS FOR CHOOSING TO TURN A BLIND EYE TO THE CRIMES COMMITTED BY THIS DICTATOR OBAMA AND HIS REGIME. THIS IS INCOMPREHENSIBLE. WHEN, IN THE HISTORY OF THIS GREAT NATION HAS SUCH BLATANT DISRESPECT FOR OUR CONSTITUTION BEEN ALLOWED TO CONTINUE? NEVER, SO WHY HAS NO ONE DONE ANYTHING ABOUT IT? YOU ALL HAVE FAILED AMERICA MISERABLY. DISGUSTING. This is NOT my AMERICA. I DID NOT VOTE FOR THIS MINION OF SATAN AND I HOLD EACH ONE OF YOU $#%&!@*S WHO DID VOTE FOR HIM, ACCOUNTABLE FOR THE DEMISE OF AMERICA. FOR THE LOVE OF AMERICA, THINK BEFORE YOU VOTE. IT IS GOING TO TAKE US DECADES TO ERASE THE DAMAGE THAT HAS BEEN DONE BY THIS TRAITOR.
Fascist pigs that they are…..wake up AMERICA , these are the two top destroyers of our country ! ! !
We in the United States do not have a president. Instead we have a whimp and his chief thug to carry out this despot’s orders! And unless he is impeached, we still have two more years of this muslim wanna be’s reign!
If I’m not mistaken treason during war is punished by death. When will this be done to those who have committed treason????
come On America don’t let this fraud of a president and his thug destroy this nation. Because that is what they are trying to do STOP THEM NOW!!!
HOW DARE this jack ass boel to a muslin
$#%&!@* those niggers
Bull c**p
Did he vote for Obama if so he got what he deserved
this is what the old timers call BULL $#%&!@*..