Financial Companies Doubt Discrimination Against Firearms Industry
Three financial services firms informed West Virginia Attorney General J.B. McCaskey in a letter on Monday that they do not engage in discrimination against businesses in the firearms sector. This preemptive move appears to have averted a potential lawsuit.
On July 30, McCaskey announced he would look into allegations that these firms unfairly withheld services from Kent Cartridge Company. By August 7, First Internet Bank of Indiana, Lamp.com, and Bill.com confirmed that they had not denied services to firearms-related businesses and had no intention of doing so. This was conveyed in a report from McCaskey’s office.
A representative for McCaskey stated that the situation is considered closed, eliminating the need for legal action under the Firearms Industry Nondiscrimination Act (FIND). This act suggests states should cut ties with financial firms that discriminate against the firearms sector.
The spokesperson expressed relief that these organizations affirmed their commitment to treating firearms businesses fairly, noting, “the BILL currently serves Kent Cartridges, so there is no need to test mutual understanding through litigation at this time.” Kent Cartridge, which produces shotshells for hunting and sporting purposes, did not respond to inquiries.
McCaskey shared his satisfaction regarding the financial companies’ commitment, stating, “The FIND Act exists because we care deeply about the right of West Virginians to bear arms, and my office is committed to protecting that right.” He encouraged any West Virginia firearms businesses experiencing discrimination to reach out to his office for investigation.
In their responses, both Lamp.com and Bill.com contended that they were not subject to West Virginia’s FIND law. They had yet to provide comments on these allegations. Meanwhile, First Internet Bank acknowledged the inquiry but distanced itself from any wrongdoing regarding Lamp’s initial refusal to work with Kent Cartridge, citing a lack of awareness of any related issues.
The National Shooting Sports Foundation commended the investigation’s outcome, highlighting the importance of upholding economic freedoms for the firearms industry. Mark Oliva, the managing director of public affairs, expressed, “This is what happens when elected officials are committed to the rule of law and respecting Second Amendment rights.”
He continued, emphasizing the desire for a level playing field in the industry: “West Virginia’s Firearms Nondiscrimination Act (FIND) ensures that no firearms and ammunition business will be denied financial services due to ‘woke’ policies.” He viewed this resolution as beneficial for firearms businesses, financial service providers, and West Virginia’s economy.
The previous Obama administration initiated Operation Chokepoint, pressuring banks via the Federal Deposit Insurance Corporation (FDIC) to restrict services for the firearms sector. Although the practice was halted under the Trump administration, some institutions still applied pressure on firearms companies for several years regarding certain practices.
Oliva expressed appreciation for McCaskey’s prompt attention to this issue and reiterated the importance of maintaining vigilance against financial discrimination.
