How Banks Could Control Gun Sales if Washington Won’t

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How Banks Could Control Gun Sales if Washington Won’t

Postby BigDog58 on Tue Feb 20, 2018 7:33 pm

They are looking at ALL Angles

https://www.nytimes.com/2018/02/19/busi ... sales.html

Here’s an idea.

What if the finance industry — credit card companies like Visa, Mastercard and American Express; credit card processors like First Data; and banks like JPMorgan Chase and Wells Fargo — were to effectively set new rules for the sales of guns in America?

Collectively, they have more leverage over the gun industry than any lawmaker. And it wouldn’t be hard for them to take a stand.

PayPal, Square, Stripe and Apple Pay announced years ago that they would not allow their services to be used for the sale of firearms.

Continue reading the main story
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NEWS ANALYSIS
Businesses Look at Washington and Say, ‘Never Mind, We’ll Do It’ FEB. 1, 2018
“We do not believe permitting the sale of firearms on our platform is consistent with our values or in the best interests of our customers,” a spokesman for Square told me.

The big financial firms don’t even have to go that far.

For example, Visa, which published a 71-page paper in 2016 espousing its “corporate responsibility,” could easily change its terms of service to say that it won’t do business with retailers that sell assault weapons, high-capacity magazines and bump stocks, which make semiautomatic rifles fire faster. (Even the National Rifle Association has said it would support tighter restrictions on bump stocks.)
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby mmcnx2 on Tue Feb 20, 2018 7:39 pm

Pay cash, problem solved.
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby Ghost on Tue Feb 20, 2018 8:00 pm

I've never bought a gun I couldn't afford so I could do the cash option. Might even bring prices down a bit.
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby linksep on Tue Feb 20, 2018 8:01 pm

Mailing a check to GrabAGun.com would be a royal PITA, for both buyer and seller.
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby Holland&Holland on Tue Feb 20, 2018 9:30 pm

So my Cabela's card will not longer be able to be used for guns at Cabela's? I don't think so. The firearms industry is a pretty good chunk of business for no one to want a piece.
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby Bearcatrp on Tue Feb 20, 2018 9:44 pm

Possible but doubtful. They would loose money on interest. Cash works for me though.
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby yukonjasper on Tue Feb 20, 2018 11:34 pm

Welcome the NRA credit card issued from the NRA credit union. I'm surprised they haven't already entered the market. I know they have co-branded cards but the pressure as discussed would usher in the need for a direct to consumer offering.
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby Lumpy on Wed Feb 21, 2018 10:26 am

I'm reminded of how for a while marijuana retailers had to deal in cash because the banks were concerned that they'd be in violation of federal law if they participated in "narcotics trafficing".
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Re: How Banks Could Control Gun Sales if Washington Won’t

Postby yukonjasper on Wed Feb 21, 2018 11:27 am

I believe that is still the case.
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