Some States Making JPMorgan Chase Pay for Anti-Gun Discrimination

BY DAVID CODREA

SEE: https://www.ammoland.com/2021/11/some-states-making-jpmorgan-chase-pay-for-anti-gun-discrimination/;

republished below in full unedited for informational, educational & research purposes:

Despite the Biden administration’s statements to the contrary, Americans are still buying more guns than ever. IMG iStock-1189937492

U.S.A. – -(Ammoland.com)- “JPMorgan Chase & Co. was removed on Thursday from a $700 million Louisiana municipal-bond deal after the bank’s stance on guns drew criticism from state Republican officials,” Bloomberg News reports. “The decision came after state Treasurer John Schroder, a Republican, said his team was scrutinizing JPMorgan’s gun policies following Chief Executive Officer Jamie Dimon’s comments to a Congressional committee earlier this year that his firm won’t finance companies that make military-style weapons for consumers.”

“Louisiana isn’t alone in standing up to discriminatory policies,” the National Shooting Sports Foundation reported in October. “Texas’s legislature passed and Republican Gov. Gregg Abbott signed into law the Firearm Industry Nondiscrimination Act (FIND Act). The law prohibits ‘woke’ corporations from profiting from Texas tax dollars and using those profits to fund efforts to deny those same taxpayers their Second Amendment rights. The law already cost JPMorgan Chase the $3.3 billion it underwrote in bonds in 2020 now that it is denied from doing so this year.”

Similar measures are being pursued in other states, including Ohio, where Rep. Scott Wiggam has introduced legislation that “would deny corporations the ability to benefit from taxpayer-funded state or municipal contracts while at the same time holding policies that discriminate against firearm-related businesses.”

From my 2018 GUNS Magazine “Banking on Disarmament” column:

Unsurprisingly, banks are also beneficiaries of collectivism. Citigroup and B of A both got “government bailouts” courtesy of the taxpayers. Gun owners had no say in prohibiting money taken from them being used to guarantee assets of corporate ingrates. And JPMorgan Chase, ATF’s credit card provider, offered a position to get a double-dipping Fast and Furious manager out of the country, was a top Obama and Hillary campaign contributor, and the bank that terminated the account of “3D printed gun” pioneer Defense Distributed.

With an estimated net worth of around $2B, Chairman and CEO Jamie Dimond is above it all. Naturally, an “Executive Protection Specialist” bodyguard is one of the perks he enjoys, so what the little people who have credit cards, checking, and savings accounts are to do is of no concern to him. There are so many customers, a handful lost here or there will not even register on the bottom line.

As for the argument that the super-rich like Dimond and celebrities need such services more than the average person because they’re such potentially lucrative targets, tell that to the most at-risk low-wage workers among us, like convenience store clerks, or taxi drivers, or the pizza delivery guy.

It’s past time for the government to investigate past “sweetheart deals” such as JPMorgan enjoyed with ATF. If the Republicans can succeed in not blowing a return to majority power, gun owners should demand they hold banks to the same non-discrimination policies as the above-cited states are enacting.

Starting with no more bailing the ungrateful loan sharks out when they run things into the gutter…


About David Codrea:

David Codrea is the winner of multiple journalist awards for investigating/defending the RKBA and a long-time gun owner rights advocate who defiantly challenges the folly of citizen disarmament. He blogs at “The War on Guns: Notes from the Resistance,” is a regularly featured contributor to Firearms News, and posts on Twitter: @dcodrea and Facebook.

David Codrea

Brighteon: Alex Jones joins Mike Adams in studio, warning of where America is headed in 2022

NaturalNews videos would not be possible without you, as always we remain passionately dedicated to our mission of educating people all over the world on the subject of natural healing remedies and personal liberty (food freedom, medical freedom, the freedom of speech, etc.). Together, we’re helping create a better world, with more honest food labeling, reduced chemical contamination, the avoidance of toxic heavy metals and vastly increased scientific transparency.

‘You Used To Be A Member Of The Young Commies?’ Kennedy Grills Comptroller Nominee

BIDEN'S COMMUNIST PLANT :

CLAIMS THEORETICAL IDEAS WERE ONLY THEORIES, NOT HER REAL BELIEFS 

OTHER CONGRESSMEN & WOMEN GRILL OMAROVA, BUT SHE CONTINUES TO DENY THAT SHE VOICED AND/OR WROTE ANTI-CAPITALIST RADICAL COMMUNIST IDEOLOGIES, DESPITE DOCUMENTED PROOF

'I Cannot Think Of A Nominee More Poorly Suited Than You': Tim Scott Shreds Comptroller Nominee

'I Don't Think You Fit In This Job': Shelby Tells Saule Omarova Point Blank He Won't Vote For Her

'These Are Chilling Statements And Beliefs': Daines Assails Saule Omarova Over Past Writings

'In Your Words, And I Quote...': Toomey Confronts Saule Omarova Over 'Disturbing' Writings

Hagerty: Omarova 'Is Having A Hard Time Acknowledging That Higher Gas Prices Are Bad For America'

GOP Senator Calls Out Saule Omarova's Controversial Quote During Hearing

'That Is An Incredibly Dangerous Concept': GOP Senator Grills Saule Omarova

Biden’s Banking Regulator Wants to Destroy the US Economy~Nominee Wants to Starve, Bankrupt America’s Oil and Gas Industry

Biden’s Marxist Nominee for Banking Chief Wants Oil, Gas, and Coal Industries to Go Bankrupt

BY ROBERT SPENCER

SEE: https://pjmedia.com/news-and-politics/robert-spencer/2021/11/10/bidens-marxist-nominee-for-banking-chief-wants-oil-gas-and-coal-industries-to-go-bankrupt-n1531458;

republished below in full unedited for informational, educational & research purposes:

Saule Omarova, Biden’s handlers’ nominee for comptroller of the currency, the government’s top bank regulator, is a self-proclaimed “radical,” as Stephen Green has noted. Just how radical became clear in a video clip that surfaced Tuesday, in which Omarova calls matter-of-factly for the destruction of the oil, gas, and coal industries. Well, we can’t say that we haven’t been warned.

In the clip, Omarova, who was born in the Soviet Union and is not a native English speaker, is seen discussing “troubled industries and firms that are in transitioning.” She continues: “And here what I’m thinking about is primarily coal industry and oil and gas industry. A lot of the smaller players in that industry are, uh, going to probably, uh, go bankrupt in, in, in short order, at least we want them to go bankrupt if we want to tackle climate change, right?”

Wrong. The idea of climate change that is caused by human beings and can be ended by human action rests on assumptions that are dubious at best. And the entire climate change hysteria that the Western political and media elites are relentlessly ginning up is not taken seriously in the People’s Republic of China, which stands to benefit the most from the West’s economic self-sacrifice to appease Gaia.

Indeed, while Saule Omarova is calling for the bankrupting of the oil, gas, and coal industries, the People’s Republic mouthpiece Global Times published a bland piece on Monday proclaiming that “China’s coal output hit a multi-year high, will help ensure warm winter.” The article reports happily: “China’s daily coal output has reached 11.93 million tons, the highest level in recent years, and increasing coal supplies have laid a good foundation to ensure energy supply security and residential heating during the winter, the nation’s top economic planner said on Monday, as many parts of the country were hit by a severe coal [sic] wave over the weekend.”

Nary a word about shutting down the industry to fight the chimera of climate change. You might almost get the impression that Chinese authorities aren’t being kept awake nights by nightmares of Obama’s and Biden’s luxury beach houses being swept away by rising sea levels, nor eaten away with regret about how it all could have been prevented if only they had gutted their economy. And you’d be right.

This radical and destructive rhetoric was to be expected from Omarova, who, as Stephen Green pointed out, “graduated from the Soviet Union’s Moscow State University in 1989 on the Lenin Personal Academic Scholarship.” Omarova was apparently such a convinced Marxist in the late 1980s that she wrote her thesis on Karl Marx’s thought and tellingly has refused to release that thesis now.

In October, Senator Pat Toomey (R-Sanity) wrote to her asking for a copy: “I write today seeking a copy of your thesis, ‘Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital,’ which you wrote as a student at Moscow State University on the V.I. Lenin Personal Academic Scholarship. While it appears that you have deleted any reference to your thesis in the version of your curriculum vitae (CV) that is currently available on the Cornell Law School website, the paper appeared on your CV as recently as April 2017.” There is no indication that Omarova turned over the thesis in response to this appeal.

Why the secrecy about it? If it represents views she no longer holds, she could release it and take the opportunity to explain that. If, however, she still holds the views it espouses, she may have every reason to conceal it. And here we are.

Related: Terrifying: Biden Is Nominating Soviet-trained Radicals Now

The UK’s Daily Mail called Omarova an “expert in Marxist-Leninism” and reported her account of how she came to be in the United States: “There was at the very end of the Gorbachev era an exchange program between Moscow State and University of Wisconsin Madison. I got lucky against all odds, and I came for that one semester in 1991 to Madison, Wisconsin. While I was there in December of 1991, the Soviet Union fell apart. So there I was a student without anywhere to go back. I was very worried about what was going to happen. So I stayed to do my Ph.D. in political science, but frankly, I’m just…To this day, I feel guilty for having left the country at such a momentous time, because obviously, they couldn’t hold it together without me.” Ah, if only Saule Omarova had stayed home, the Soviet Union would still exist today!

Unfortunately for all of us, she came here instead. And now, in Saule Omarova’s perfect world, massive sectors of the American economy will go bankrupt, destroying the jobs of tens of thousands of Americans and making them wards of the increasingly intrusive and all-pervasive state. Meanwhile, in the People’s Republic of China (a state based on the theories of Karl Marx that Omarova has studied so closely), the coal industry, as well as the other industries, will keep chugging along. This is the absurd and self-defeating America of Joe Biden’s handlers.

_______________________________________________________________

Biden Nominee Wants to Starve, Bankrupt America’s Oil and Gas Industry

BY BOB ADELMANN

SEE: https://thenewamerican.com/biden-nominee-wants-to-starve-bankrupt-americas-oil-and-gas-industry/;

republished below in full unedited for informational, educational & research purposes:

Saule Omarova, the communist Cornell law professor whom Biden has nominated as Comptroller of the Currency, has big plans not only for banks and private bank accounts but for oil and gas companies as well.

Thanks to research done by the American Accountability Foundation (AAF), a conservative group that does deep research into nominees such as Omarova, Democrat senators on the bubble over her nomination now have additional proof of her disqualifications for the position.

The AAF found a virtual seminar that occurred in March where Omarova held forth on the topic of America’s oil and gas industry. Speaking at the Jain Family Institute’s “Social Wealth Seminar” in March, she said:

Here’s what I’m thinking about … primarily the coal and oil and gas industry. A lot of smaller players in that industry are going to probably go bankrupt in short order.

At least, we want them to go bankrupt if we want to tackle climate change, right?

Presumably, there was abundant applause from her audience supporting the institute. It bills itself as “an applied research organization in the social sciences … including research in … guaranteed income.”

AAF found another treasure: In speaking at another Jain Family function in May, Omarova said, “So, the way we basically get rid of those carbon financiers is, we starve them of their sources of capital.”

Under her plan for the banks, all capital would be controlled, allocated, and dispersed according to a national plan. The plan, of course, would eliminate financing for any industry that doesn’t fit into the green agenda. Viola! The U.S. would have completely clean air and become a complete financial communist dictatorship in the process.

The Wall Street Journal dismembered her nomination: “Omarova thinks … prices, pay scales [and] capital and credit should be dictated by the federal government.” The Journal excoriated her positions, which would “effectively end banking as we know it,” putting every checking and savings account held privately in the country into the Federal Reserve. After all, it would avoid all the messiness of having to deal with that friendly but highly inefficient bank around the corner.

That’s the communist premise: The federal government runs everything, for the good of everybody, based on decisions made by unelected and unaccountable bureaucrats.

Thomas Jones, the co-founder of the AAF, said the evidence now available proves that she is an outright communist: “Saule Omarova has a classical Marxist view [she graduated from Moscow State University on a Lenin Personal Academic Scholarship; her thesis is entitled “Karl Marx’s Economic Analysis and the Theory of Revolution”] where she wants the government to run all sectors of the economy and part of that is implementing the Green New Deal. And you can only do that by destroying the oil and gas industry.”

Democrat senators on the Senate Banking Committee are having second thoughts. Senators Jon Tester (D-Mont.), Krysten Simena (D-Ariz.), and Mark Warner (D-Va.) each have major constituencies in the energy industry in their state. It will take just one of them to deep-six Omarova’s nomination, as not a single Republican supports it.

Related article:

Biden Pick for Comptroller Likes Soviet Financial Planning. Wants to End “Banking as We Know It”

 

EXPOSED: Biden to Install ‘Bolshevik’ Saule Omarova to Nationalize Banks

BY RENEE NAL

SEE: https://rairfoundation.com/exposed-biden-to-install-bolshevik-saule-omarova-to-nationalize-banks-video/;

republished below in full unedited for informational, educational & research purposes:

An image has surfaced referring to Robert Hockett, Saule Omarova, and the late Lynn Stout as the ‘Bolshevik contingent of Cornell’s finance group’.

“Only by nationalizing the banks can the state put itself in a position to know where and how, whence and when, millions and billions of rubles flow.” – Vladimir Lenin, “Nationalisation of the Banks”, 1917

There is no doubt that Biden’s pick to head the Office of the Comptroller of the Currency is a Marxist. She wrote her thesis about Karl Marx, she studied at Moscow State University and she received a scholarship named after Vladimir Lenin.

But it has not been reported, until now, that an image referring to Saule Omarova, Robert Hockett, and the late Lynn Stout as the “Bolshevik contingent of Cornell’s finance group” has surfaced.

The photo, posted in 2015 on fellow Cornell University professor Robert Hockett’s Facebook page, was provided to RAIR Foundation USA by anti-communist author and filmmaker Trevor Loudon:

“Bolshevik” is a reference to Vladimir Lenin’s Bolshevik Revolution where millions of souls perished. Lenin used the strategy of “class war” to incite Russians against the ruling family. Tsar Nicholas II, his wife Empress Alexandra and their five children were murdered by the Bolsheviks.

Perhaps fittingly, Saule Omarova was wearing devil horns in the photo.

Who is Robert Hockett?

Like all communists, Saule Omarova’s buddy Robert Hockett wants to nationalize industry. He has been an advisor to Democratic Socialists of America (DSA) member Alexandria Ocasio-Cortez, Bernie Sanders, Sherrod Brown, Kirsten Gillibrand, and Elizabeth Warren.

Source

And:

source

Hockett also took part in drafting the Green New Deal.

In 2019, he posted an article with a headline that did not age well for Forbes: “The Green New Deal: How We Will Pay For It Isn’t ‘A Thing’ – And Inflation Isn’t Either”. Consider that in 2019, the pre-pandemic economy was booming under President Donald Trump.

Saule Omarova and Robert Hockett wrote a paper together that all-but-explicitly recommends the nationalization of banks:

We can envision, for example, a national development bank, organized as a public-private partnership in which the public takes the lead investment-management role.”

This author must highlight the phrase “public-private partnership”, which is just a dog-whistle toward a government takeover of industry. The same can be said about “regulation” on a smaller scale. The left loves to regulate industry, as more regulation means more government control.

Has it been mentioned that Hockett is a communist?

source

 

During an incredibly revealing and sickening 2019 podcast (audio only), Robert Hockett makes it clear that the Green New Deal is not just about fixing so-called global warming, but as a vehicle for the “massive overhaul for the entirety of the economy” (minute mark 8:01):

The podcast host Scott Ferguson said on Facebook:

This month we had a serious–and, at times, seriously hilarious–conversation with our comrade Robert Hockett. We talked about democratizing finance, fomenting participation & advancing social justice under a #GreenNewDeal.

The phrase “democratizing finance” is important. Consider the phrase “gain democratic control of finance capital” in the below quote.

As reported at RAIR, a woman who infiltrated a communist convention in 2016 was shocked to hear Canada-born Marxist Tobita Chow openly advocate for seizing banks and spending the money as the socialists see fit:

I would like us to talk a lot more about nationalizing things. I have a long list of things I want to nationalize. Very high on my list of things I want to nationalize is the financial industry. The big banks. I want to nationalize the banks…

I say, let’s take them over [the banks] and once we do that, when we gain democratic control of finance capital, we can ask ourselves some really interesting questions like ‘What do we want to do with all this capitol?’ ‘What do we want to invest in?’ ‘What are the parts of this country and the world that are starved for investment and we want to push this capitol into – and the banks aren’t investing in these places now but when we take them over [the banks], we can make them.”

The comments were made 15:35 – 16:39:

With this in mind – and remember the phrase “democratize” – consider this excerpt from a paper headlined “The People’s Ledger” from Saule Omarova:

[This] article advocates a comprehensive reform of the structure and systemic function of the Fed’s balance sheet as the basis for redesigning the core architecture of modern finance. In essence, it offers a blueprint for democratizing both access to money and control over financial flows in the nation’s economy.

The IRS Wants Direct Access to Bank Account Information

Giving the federal government complete control over banks is in line with the democrats' unconstitutional push to snoop on bank accounts with over $600. As summarized by Wyoming Senators John Barrasso and Cynthis Lummis: 

Treasury Secretary Janet Yellen wants Democrats to force banks to tell the IRS every time you write or deposit a check above a certain amount. The number they are talking about is $600. This dangerous provision brings the IRS directly into your bank account.

Watch a jaw-dropping exchange with Janet Yellen and Senator Cynthia Lummis, where Yellen defends the bank snooping move by stating that the Internal Revenue Service (IRS) already has tons of private information. Further, she says, the IRS needs access to accounts with over $600 so Americans don’t “game the system”:

 

PA Senator Toomey: Biden’s Comptroller Nominee Scrubbed Marx Thesis From Curriculum Vitae

Toomey: Biden’s Comptroller Nominee Scrubbed Marx Thesis From CV

'Tell Her To Tone It Down': GOP Senator Slams Biden Nominee After She Called Him Racist

BY R. CORT KIRKWOOD

SEE: https://thenewamerican.com/toomey-bidens-comptroller-nominee-scrubbed-marx-thesis-from-cv/;

republished below in full unedited for informational, educational & research purposes:

Given her past and what she plans for U.S. banking in the future, no one should be surprised that Saule Omarova, President Biden’s nominee for comptroller of the currency, tried to send a revealing snapshot of her past down the memory hole.

The Cornell University law professor Omarova scrubbed her undergraduate thesis from her résumé. Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital appears there no more. Gone. Poof. Not a trace. Nor did she give a copy to the Senate Committee on Banking, Housing, and Urban Affairs Committee that will consider her nomination.

Senatore Pat Toomey of Pennsylvania, ranking committee Republican, has asked her for a copy, noting that it did, indeed, disappear from her résumé.

Meanwhile, the Daily Mail reported, an old college chum wants to know when she’ll get the $50 she gave Omarova back in the day.

“Actual Communist” Deletes Thesis

As The New American reported early this week, Omarova’s nomination is something of a stunner given her background. Or perhaps not, given the ideological hue of Biden’s appointments. Such is the sinistral spin of the Cabinet one might call it the Politburo.

As for Omarova, she graduated from Moscow State University on a Vladimir Lenin Personal Academic Scholarship and believes banking should be nationalized; i.e., the Federal Reserve would hold all bank accounts. 

Omarova has written that she would “effectively ‘end banking,’ as we know it.” She would turn regulation of the financial industry over to hand-picked leftist eggheads in academia.

Understandably, bankers are alarmed.

“We have serious concerns about her ideas for fundamentally restructuring the nation’s banking system which remains the most diverse and competitive in the world,” American Banking Association CEO Rob Nichols told DailyMail.com:

Her proposals to effectively nationalize America’s community banks, end regulatory tailoring based on risk and eliminate the dual banking system are particularly troubling.

Toomey is troubled, too.

“To fully assess the fitness of individuals to serve in Senate-confirmed executive and independent agency positions, the Committee requires nominees to submit all “books, articles, reports, and other published materials [one has] written,” Toomey wrote to the Kazakh-born Omarova:

Therefore, I write today seeking a copy of your thesis, “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital,” which you wrote as a student at Moscow State University on the V.I. Lenin Personal Academic Scholarship. While it appears that you have deleted any reference to your thesis in the version of your curriculum vitae (CV) that is currently available on the Cornell Law School website, the paper appeared on your CV as recently as April 2017.

Given that your thesis was written while you were a student at Moscow State University in the late 1980s, I assume that it was written in Russian and will require translation. To ensure there is adequate time for translation and review by lawmakers, my Committee staff reached out to both you and staff at the Office of the Comptroller of the Currency (OCC) requesting a copy last month. Unfortunately, we have not received any assurances that the Committee would receive a copy of the paper in a timely fashion.

October 5, 2021

Ms. Saule Omarova
Professor
Cornell Law School
304 Myron Taylor Hall
Ithica, NY 14853

Dear Ms. Omarova:

For the Senate Committee on Banking, Housing, and Urban Affairs to fully assess the fitness of individuals to serve in Senate-confirmed executive and independent agency positions, the Committee requires nominees to submit all “books, articles, reports, and other published materials [one has] written.”

Therefore, I write today seeking a copy of your thesis, “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital,” which you wrote as a student at Moscow State University on the V.I. Lenin Personal Academic Scholarship. While it appears that you have deleted any reference to your thesis in the version of your curriculum vitae (CV) that is currently available on the Cornell Law School website, the paper appeared on your CV as recently as April 2017. 

Given that your thesis was written while you were a student at Moscow State University in the late 1980s, I assume that it was written in Russian and will require translation. To ensure there is adequate time for translation and review by lawmakers, my Committee staff reached out to both you and staff at the Office of the Comptroller of the Currency (OCC) requesting a copy last month. Unfortunately, we have not received any assurances that the Committee would receive a copy of the paper in a timely fashion.

Accordingly, I formally request that you provide a copy of the original Russian-language thesis to the Committee, along with an English version if one exists, no later than the close of business on October 13, 2021.

Thank you for your attention to this matter.

Omarova has until October 13 to provide copies of the thesis in Russian and English.

Given what Omarova has written since then, one understands why she is reluctant to provide it.

As the Wall Street Journal observed in an editorial about the Soviet-born lawyer, when the Federal Reserve, under her plan, seizes control of bank deposits and “effectively ‘end[s] banking’ as we know it,” the Fed will become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” 

She also wants “the U.S. to create a central bank digital currency — as Venezuela and China are doing — to “redesign our financial system & turn Fed’s balance sheet into a true ‘People’s Ledger.’”

That’s right. China Joe’s comptroller nominee thinks Venezuela is a model for the United States.

But there’s more, the Journal explained:

Ms. Omarova believes capital and credit should be directed by an unaccountable bureaucracy and intelligentsia. She has recommended a “National Investment Authority,” with members overseen by an advisory board of academics, to finance a “big and bold” climate agenda. Sounds like the green infrastructure bank the Senate rejected.

Deadbeat

Yet Omarova has one other strike against her, college roommate Olga Cassidy told DailyMail.com. The Komsomol (Young Communists) member who grew up on Prospekt Lenina owes Cassidy $50. From more than 30 years ago.

“It still grates with her former friend,” DailyMail.com reported. “Though a devout communist at the time, Saule worked out that if Olga claimed her place in the two-room dorm, but did not use it, then Saule would have a prestigious room all to herself.”

Cassidy spoke to DailyMail.com with “undisguised fury” about Omarova’s con:

“With bitter tears and pleas, Saule exhorted me to get us a place in a two-bed student dorm, which I absolutely did not need, but was entitled to,” she explained.

“I could not resist Saule, who vowed to pay me for the ‘dead soul’ in the dorm so she could live in peace without unnecessary neighbors.”

So Olga paid from her pittance of a scholarship for Saule’s room, she said, while her erstwhile friend “lived in conditions of increased comfort.”

The cost amounted to around $50 for the academic year at the then official exchange rate to the basketcase Soviet rouble.

When Olga asked for the $50, Omarova “suffered an amnesia attack and fled.”

One wonders whether she’ll suffer an amnesia attack about her thesis.

Biden’s handlers have no plan to prevent Taliban from seizing $18,000,000 in cash from Afghanistan’s central bank

BY ROBERT SPENCER

SEE: https://www.jihadwatch.org/2021/08/bidens-handlers-have-no-plan-to-prevent-taliban-from-seizing-18000000-in-cash-from-afghanistans-central-bank;

republished below in full unedited for informational, educational & research purposes:

The U.S. military was too busy imposing wokeness on the armed forces to sketch out any plan to prevent the Taliban from seizing this money.

“Rep. Gallagher: ‘It’s up to Congress to make sure the Taliban does not walk away with a windfall,'” by Adam Kredo, Washington Free Beacon, August 20, 2021:

As the Biden administration scrambles to evacuate American personnel from Afghanistan, it is overlooking the Taliban’s plans to seize some $10 billion in assets held by Afghanistan’s central bank, according to congressional foreign policy leaders.

Somewhere between $18 and $20 million in cash sits in the Afghan central bank’s vaults and is likely to fall into the Taliban’s hands unless the United States attempts to intercept the funds and fly them out of the country—a scenario that sources say is unlikely as the Biden administration struggles to pull Americans out of Taliban-controlled Kabul.

The Treasury Department would not answer questions about any plan it has to secure cash still located inside the country. A Biden administration official, speaking only on background about the matter, told the Washington Free Beacon that all Afghan assets held as investments in the United States—which amount to around $7 billion—have been frozen and “will not be made available to the Taliban.” The Afghan central bank has around $10 billion in total assets, most of which are stored outside the country and out of the Taliban’s reach in the short term. Taliban leaders are pressing bank officials to give them access to these funds, according to Afghan government officials.

Republican foreign policy leaders in Congress say the Biden administration is in no place to secure Afghanistan’s fortune given its disorganized evacuation of Americans from the country, which is still taking place. They say the administration had no contingency plans in place and failed to anticipate the Taliban’s quick return to power.

Rep. Mike Gallagher (R., Wis.), a member of the House Armed Services Committee, said it is Congress’s responsibility to make sure the Taliban does not become wealthy as a result of its government takeover.

“While I am glad the administration has indicated it will not allow the Taliban to gain access to Afghan reserves held in the United States, it’s up to Congress to make sure the Taliban does not walk away with a windfall,” Gallagher told the Free Beacon. House Speaker Nancy Pelosi (D., Calif.) “must immediately reconvene Congress for an emergency session so we can do so.”

The United States froze cash shipments to Afghanistan during the weekend, when the Taliban marched into Kabul and retook control of the country. Some in the Biden administration, however, have floated plans to unfreeze Afghanistan’s cash reserves or offer the Taliban foreign aid if it agrees to spare the embattled U.S. embassy compound in Kabul, according to one source with knowledge of the ongoing deliberations. The administration could also be forced to repatriate a portion of these funds as part of future negotiations with the Taliban that are certain to take place in the coming weeks and months.

Still, the Taliban is doing all it can to get its hand on any money still stashed inside the country, and its leaders are “asking [central bank] officials about the location of assets,” according to Ajmal Ahmady, the bank’s most recent governor, who fled the country as the Taliban marched into Kabul….

Kyle Bass: China’s Digital Currency is a ‘Trojan Horse’ to Project Digital Authoritarianism

Rumble — 🔴 Watch the full episode—now available for *free* on EpochTV! https://ept.ms/36sRcvg

Kyle Bass likens China's digital yuan to a 'trojan horse,' saying that because it is a centralized currency controlled by an authoritarian regime, it can be used to influence important people. He also says that while the CCP is unlikely to succeed in making the digital yuan the global reserve currency, he believes that even if a small amount of people use it, it will become a big problem.

#China #KyleBass #ChineseCommunistParty

WELLS FARGO BANK ABRUPTLY CLOSES ACCOUNT, SEIZES MONEY OF CONSERVATIVE DELAWARE POLITICIAN LAUREN WITZKE~Michelle Malkin: Financial Censorship Of America First

TIME TO BOYCOTT WELLS FARGO AND CLOSE YOUR ACCOUNT

COULD DELAWARE'S BIDEN BE BEHIND THIS SEIZURE?

BANK ACCUSES HER OF "MONEY LAUNDERING & CRIMINAL ACTIVITY"

AND CLAIMS "WE WILL MAIL YOU A CHECK"

While Lauren was 1,000 miles away from home when Wells Fargo bank closed her account giving her no notice, and no way to access her money when she needed it.. Harrison Smith of The American Journal talks to Lauren about possibly why this happened: Full video: https://banned.video/watch?id=60ca356...

Sarah Corriher: Banks Are Being Weaponized

Rumble — Lauren Witzke was left stranded and absent any funds after Wells Fargo canceled her bank account without prior notice. Lauren is the latest conservative figure to be targeted for having the wrong political opinions. Financial blacklisting appears to be expanding under the Biden regime, which is persecuting its perceived political opponents on multiple fronts.

BY MICHELLE MALKIN

SEE: https://vdare.com/articles/michelle-malkin-financial-censorship-of-america-first;

republished below in full unedited for informational, educational & research purposes:

Another day, another de-banking. Imagine a ruthless country where peaceful citizens who fearlessly defend their heritage, their families and their faith can wake up in the morning and find themselves cut off from their entire life savings with no explanation and no recourse. That country is not RussiaChina, North Korea, Venezuela or Iran.

That country is America in 2021.

On Tuesday, 33-year-old Lauren Witzke received a terse notice from her bank, Wells Fargo. The available balance on her account read "$0.00." Her entire life savings of roughly $15,500 had been transferred to "loss prevention." Was this a case of theft or fraud? Had her account been compromised? Nope.

"When I called, Wells Fargo told me that it was a 'business decision,'" Witzke recounted, "and that they have the right to close my account at any time."

Wells Fargo representative told Witzke, who is working out of state and has no other bank account, that she would be barred from retrieving her funds at any branch office and that they would "mail a check." You know how that goes. Wells Fargo did not respond to my phone messages and email inquiries regarding Witzke's case.

Here is what you need to know about Witzke. The 2020 Delaware Senate GOP candidate is an outspoken Christian conservative activist and supporter of former President Donald Trump who peacefully exercised her First Amendment rights at the Jan. 6 Capitol rally. She has not been charged with any crime. She was, however, suspended on Twitter for peacefully opposing mass migration and violent refugee criminals in Europe. She was banned completely from the platform in March for peacefully expressing her opinion that a transgender activist, who tweeted that little girls were kinky, was "demonic." She has organized peaceful election integrity efforts in Georgia through her work with the Hold the Line PAC. She has been a fierce and peaceful advocate for "America First" principles protecting the traditional nuclear family, supporting an immigration moratorium and combating Big Tech censorship.

In other words: Lauren Witzke has a big fat target on her back for threatening the powers that be in Big Government and Big Business. After the Jan. 6 protest, she has encountered obstacles to flying unimpeded across the country to participate in political rallies and events. She cannot check into flights online, is swabbed for explosives and has "SSSS" ("secondary security screening selection") marked on her tickets. That's a designation made by the federal Transportation Security Administration, which keeps a secret list of untold thousands of American citizens targeted for undisclosed reasons as "security" threats.

This is not just about one private bank making a "business decision" to drop a customer for any old reason. This is an obvious case of coordinated financial censorship and targeting of citizens by Big Government and Big Business based on their political views. Pattern recognition is key. As I've previously reported in my columns and latest book, "Open Borders Inc.," Wall Street is in bed with social justice radicals and deep-state bureaucrats who've erected America's very own version of the Chinese social credit system in which political dissent is flagged, shunned, punished and eradicated.

Before Witzke came a long line of dissidents and nationalist groups—ranging from Laura Loomer to Faith Goldy to the Proud Boys to Lana Lokteff and Henrik Palmgren to VDARE and Nick Fuentes to Gab founder Andrew Torba—all blocked or barred from financial entities ranging from Chase and Barclays to Mastercard, Visa, PayPal, Venmo, Patreon, Stripe, and Coinbase.

"The current weaponization of corporations and banks against conservatives and Christians is terrifying," Witzke told me. "I have banked with Wells Fargo for years, using it as savings when I was working in ministry. Only when I was given a platform to share my Christian views on the national stage did Wells Fargo decide to shut down my account. The Evil Oligarchs at Wells Fargo left me, a young woman, with a balance of zero dollars, stranded, and a thousand miles away from my home with no explanation ... Christians and Conservatives, Get your money out of Wells Fargo, NOW!"

Gab's Torba, who has battled de-banking by four different financial institutions and one credit card company, has likened the latest financial terror and blacklisting campaign under President Joe Biden to an Obama-era program pressuring the companies not to do business with lawful firearms dealers, coal companies and other politically incorrect businesses. "What we're seeing is Operation Choke Point," Torba said after news of Witzke's de-banking broke, "where the federal government ... (is coming) after political dissidents."

We've gone far beyond cancel culture. This is not merely about being silenced. It's about being robbed, bankrupted and destroyed by woke capital and swamp oppressors. No one is safe.

As Torba warns: "Today it's Lauren; yesterday it was Gab; and tomorrow it can and will be you."

Michelle Malkin [Email her] is the author of Invasion: How America Still Welcomes Terrorists, Criminals, and Other Foreign Menaces to Our Shores. Click here for Peter Brimelow’s review. Michelle Malkin is also the author of Unhinged: Exposing Liberals Gone Wild, Culture of Corruption: Obama and his Team of Tax Cheats, Crooks & Cronies, ,Who Built That: Awe-Inspiring Stories of American Tinkerpreneurs, and Sold Out: How High-Tech Billionaires & Bipartisan Beltway Crapweasels Are Screwing America's Best & Brightest Workers.

Malkin is author of the book, "Open Borders, Inc.: Who's Funding America's Destruction," available directly from VDARE.com in hardcover.

Malkin can be contacted on TwitterGab, and Telegram.

 

South Korea to release $7 billion in frozen assets to Iran after consulting with Biden’s handlers

BY CHRISTINE DOUGLASS-WILLIAMS

SEE: https://www.jihadwatch.org/2021/02/south-korea-to-release-7-billion-in-frozen-assets-to-iran-after-consulting-with-bidens-handlers;

republished below in full unedited for informational, educational & research purposes:

While Biden may well be looking for ways to save face in a standoff with Iran, he just gave the thumbs up for South Korea to release $7 billion in assets in Iran. Biden likely hopes this gesture will move Iran closer to negotiations with the U.S. If Biden is lucky, this money will lead Iran to soften its stance and return to the negotiating table, so as to restart the disastrous Iran nuclear deal that saw over $100 billion flow into the coffers of the Islamic Republic. That was a windfall that allowed the mullahs to continue their jihad in the region and globally; another such windfall is in the offing.

To facilitate the trade with Iran of humanitarian items, such as medicine and medical equipment, South Korea has been seeking to use a Swiss channel backed by the U.S., known as the Swiss Humanitarian Trade Arrangement (SHTA), to use the money through Swiss companies’ sales of goods to Iran.

But the trade of humanitarian items just frees up money for other activities. Who could forget Iran’s deceptions? These include its violation of the nuclear deal, and its own admission to having done so, as well as its boastful, repeated threats and provocations regarding its military capabilities. Yet far too many Western leaders have never recognized the implications of all this.

“Foreign ministry says Iran’s assets to be unlocked through consultations with US,” Korea Times, February 23, 2021:

The Iranian assets locked in South Korea will be released after consultations with the United States, the foreign ministry said Tuesday, after Iran claimed it has reached a deal with Seoul on how to transfer and use the frozen money.

According to Iran’s government website, the agreement was reached Monday (Tehran time) during the meeting between Iran’s Central Bank Gov. Abdolnaser Hemmati and South Korean Ambassador to Iran Ryu Jeong-hyun.

It said that the two sides agreed on the destinations for the transfer and that the Iranian central bank informed Seoul of the amount of the money it wants to be transferred.

Tehran has been pressuring Seoul to unblock about US$7 billion of its assets frozen in two South Korean banks due to U.S. sanctions. Seoul has been in talks with Washington on ways to release the money without violating the sanctions, including expanding humanitarian trade with the Middle Eastern country.

“Our government has been in talks with Iran about ways to use the frozen assets, and the Iran side has expressed its consent to the proposals we have made,” the foreign ministry said without providing further details of the proposals.

“The actual unfreezing of the assets will be carried out through consultations with related countries, including the United States,” the ministry said.

Earlier this month, a foreign ministry official said Seoul was finalizing talks with Washington about using some of the frozen funds to pay Tehran’s U.N. dues in arrears, to which the Islamic republic has also agreed.

To facilitate the trade with Iran of humanitarian items, such as medicine and medical equipment, South Korea has been seeking to use a Swiss channel backed by the U.S., known as the Swiss Humanitarian Trade Arrangement (SHTA), to use the money through Swiss companies’ sales of goods to Iran.

Despite the denial from Seoul and Tehran, speculation has mounted that Iran’s discontent over the frozen funds is related to its recent seizure of a South Korean oil tanker and its crew members in the Persian Gulf early last month….

Bank of America Sells Out Gun & Ammo Purchasers as Potential Criminals

Bank of America, it turns out, is selling out their customers who bought guns or ammunition to federal authorities 

Bank of America has said it is required by federal law to comply to requests

BY JIM GRANT & LARRY KEANE

SEE: https://www.ammoland.com/2021/02/bank-of-america-sells-out-gun-ammo-purchasers-as-potential-criminals;

republished below in full unedited for informational, educational & research purposes:

U.S.A. -(AmmoLand.com)- Bank of America, it turns out, is selling out their customers who bought guns or ammunition to federal authorities as people who should be investigated for ties to the criminal acts witnessed on Capitol Hill on Jan. 6.

Tucker Carlson, of Fox News, uncovered evidence that Bank of America is turning over the private transaction records of its customers to federal investigators it believes need to be probed for “extremism” or even domestic terrorism. The chilling move by the second-largest corporate bank in America with more than 60 million customers and $2.16 trillion in assets was this:

    1. Customers confirmed as transacting, either through bank account debit card or credit card purchases in Washington, D.C. between 1/5 and 1/6.
    2. Purchases made for Hotel/Airbnb RSVPs in DC, VA, and MD after 1/6.
    3. Any purchase of weapons or at a weapons-related merchant between 1/7 and their upcoming suspected stay in D.C. area around Inauguration Day.
    4. Airline related purchases since 1/6.

Did you notice No. 3? Bank of America is vocally antigun, but this is crossing into secret lists, big brother, sci-fi truth-is-stranger-than-fiction territory. The bank’s criteria included any purchase at a gun store, but not just guns. If someone bought a t-shirt, baseball hat, or even a trigger lock, that flagged their account for “review.”

Who Told Who?

Carlson reported that Bank of America identified 211 people and turned that information over to investigators without notifying those customers their private financial transaction data was being shared without their consent. Federal authorities interviewed at least one person, and that individual was cleared of any wrongdoing.

Bank of America dodged Carlson when confronted with the allegations it was singling out customers who made a purchase at a gun store. They said, “We don’t comment on our communications with law enforcement. All banks have responsibilities under federal law to cooperate with law enforcement inquiries in full compliance with the law.”

However, “compliance with the law” here is questionable at best. Bank of America didn’t say that the FBI subpoenaed the information. They only said they “cooperated.” Carlson pointed out that banks are allowed under 12 U.S.C. 3403 to provide information that “may be relevant to a possible violation of any statute or regulation.”

In Bank of America’s estimation, visiting a gun store and buying any product, much less a firearm that is protected by the Second Amendment, is suspicious enough to put their customers on a secret watch list without their knowledge.

The New York Post interviewed New York City’s former top cop who blasted the decision to hand over private financial data.

“That’s just not a good reason to hand over private information. If that’s the way they do business now, then the people of this country really have something to worry about,” said Bernard Kerik, a security consultant who headed the NYPD in 2000 and 2001.

Another former law enforcement official called the move “a fishing expedition.”

In a follow-up, Fox News’ Mark Steyn interviewed former federal prosecutor Francey Hakes, who noted Bank of America’s response was peculiarly-absent of any mention of “search warrants, court orders or subpoenas…” Hakes noted that the Fourth Amendment protects against searches that aren’t “particularized” or when a judge signs off an order to search the records of a specific individual based on evidence.

“Financial information is highly private in this country and is given heightened protection,” she added.

Telegraphed Move

So far, JP Morgan Chase and Wells Fargo haven’t responded if they’ve conducted similar internal search efforts of customer information. Yet, this follows an antigun animus by Bank of America. In 2018, Bank of America announced they would end financial relationships with manufacturers of modern sporting rifles, which they erroneously called “military-style rifle.” The move followed a similar announcement by Citigroup.

Delving into private transactions and using big banks to approve of purchases isn’t a new idea. In fact, this is the fulfillment of New York Times’ columnist Andrew Ross Sorkin’s call for such action and who proposed the notion in 2017 and 2018. It was later parroted by Robert Francis “Beto” O’Rourke as a potential gun control program.

It also shouldn’t be surprising that big banks with antigun agendas are emboldened to violate their customers’ privacy, turn them out and label them as “extremist” and “domestic terrorist.” The Biden administration yanked the publication of the “Fair Access” banking rule by the Office of the Comptroller of the Currency. That gave banks the green light to continue to openly discriminate against firearm business, which is just privatization with a wink-and-nod to continue the illegal Operation Choke Point that was begun under the Obama administration.

It is no longer the Bank of America. It is a gun control cabal working to undermine American freedoms, label gun owners as criminals, and use their customers’ money and information as the tools to get it done. Welcome to the Bank of Gun Control America.


About NRA-ILA:

Established in 1975, the Institute for Legislative Action (ILA) is the “lobbying” arm of the National Rifle Association of America. ILA is responsible for preserving the right of all law-abiding individuals in the legislative, political, and legal arenas, to purchase, possess, and use firearms for legitimate purposes as guaranteed by the Second Amendment to the U.S. Constitution. Visit: www.nra.org

National Rifle Association Institute For Legislative Action (NRA-ILA)

_________________________________________________________________________________

SEE OUR PREVIOUS POSTS:

https://ratherexposethem.org/2021/02/06/bank-of-america-gave-feds-customer-data-after-capitol-riot-for-no-good-reason/

https://ratherexposethem.org/2019/04/19/chase-bank-closes-accounts-of/

https://ratherexposethem.org/2014/01/30/bank-of-america-spying-team-works-with/

 

Bank of America Gave Feds Customer Data After Capitol Riot — for No Good Reason

BOYCOTT THIS BANK, CLOSE YOUR ACCOUNTS & DEBIT/CREDIT CARDS, REFINANCE LOANS ELSEWHERE:

ILLEGALLY SEARCHES THROUGH THOUSANDS OF ACCOUNTS AT THE REQUEST OF FBI, DOJ

Report: Bank of America Gave Feds Customer Data After Capitol Riot — for No Good Reason

Tucker Carlson accuses Bank of America of treating customers 'like Al Qaeda' as he reveals it gave the FBI details of every customer who spent money on hotels or AirBnb, flights and guns in DC around time of the Capitol siege

Bank of America has said it is required by federal law to comply to requests

BY SELWYN DUKE

SEE: https://thenewamerican.com/report-bank-of-america-gave-feds-customer-data-after-capitol-riot-for-no-good-reason/;

republished below in full unedited for informational, educational & research purposes:

Apple refused to give the FBI encrypted data from a phone belonging to Muslim terrorists who killed 14 people. Google refused to do artificial intelligence work for the Pentagon but then did work helping China censor its own people. But Bank of America (BoA) had no problem handing over the private information of innocent customers — to federal investigators on a witch hunt for Capitol riot “right-wing extremists.”

Well, it’s plain what side corporate America is now on: everyone but yours.

Fox News host Tucker Carlson reported on the BoA story last night, saying:

“Tucker Carlson Tonight” has exclusively obtained evidence that Bank of America, the second-largest bank in the country with more than 60 million customers, is actively but secretly engaged in the hunt for extremists in cooperation with the government. Bank of America is, without the knowledge or the consent of its customers, sharing private information with federal law enforcement agencies. Bank of America effectively is acting as an intelligence agency, but they’re not telling you about it.

In the days after the Jan. 6 riot at the Capitol, Bank of America went through its own customers’ financial and transaction records. These were the private records of Americans who had committed no crime; people who, as far as we know, had absolutely nothing to do with what happened at the Capitol. But at the request of federal investigators, Bank of America searched its databases looking for people who fit a specific profile.

Here’s what that profile was: “1. Customers confirmed as transacting, either through bank account debit card or credit card purchases in Washington, D.C. between 1/5 and 1/6. 2. Purchases made for Hotel/Airbnb RSVPs in DC, VA, and MD after 1/6. 3. Any purchase of weapons or at a weapons-related merchant between 1/7 and their upcoming suspected stay in D.C. area around Inauguration Day. 4. Airline related purchases since 1/6.”

The first thing you should notice about that profile is that it’s remarkably broad. Any purchases of anything in Washington, D.C.; any overnight stay anywhere in an area spanning three jurisdictions and hundreds of miles; any purchase not just of legal firearms, but anything bought from a “weapons-related merchant,” T-shirts included; and any airline-related purchases — not just flights to Washington, but flights to anywhere, from Omaha to Thailand. That is an absurdly wide net.

Bank of America identified a total of 211 customers who met these “thresholds of interest.” At that point, “Tucker Carlson Tonight” has learned, Bank of America turned over the results of its internal scan to federal authorities, apparently without notifying the customers who were being spied upon. Federal investigators then interviewed at least one of these unsuspecting people. That person, we’ve learned, hadn’t done anything wrong and was cleared.

BoA claims it was just complying with the law, but Carlson asserts (video below) that this isn’t true. The bank had a choice — and unlike Apple, it chose not to resist the feds’ request.

As with Apple, however, BoA decided to take the anti-American position. Speaking volumes is that in Apple’s case, the FBI was merely asking for information from the phone of a terrorist, Syed Rizwan Farook, who’d already committed a heinous crime; he was one of two people who perpetrated the 2015 San Bernardino shooting, which claimed 14 lives.

In contrast, the BoA customers are completely innocent; their only crime is fitting the wrong profile. Don’t misunderstand, profiling is a legitimate criminological method — but it’s only legitimately used when the ends are valid.

In this case, being advanced is “Reichstag fire” opportunism. The Capitol riot was not an “insurrection” as was CHAZ, the forcible, armed, left-wing takeover of Seattle streets last year. It was not racially driven (“white supremacism”) as is Black Lives Matter. It wasn’t authored by forces seeking the government’s overthrow, as is Antifa. Its members didn’t wear masks à la Antifa, either.

The rioters also weren’t part of an organized destabilization effort responsible for approximately 600 riots, often involving looting and arson, during the last year. That would be, again, Antifa and BLM.

Of course, if the government had put the kind of effort into combating Antifa/BLM that they’re putting into the current witch hunt, we wouldn’t have had 600 violent riots, thousands of destroyed businesses, and the resulting deaths.

Antifa/BLM action is an actual threat while the “threat” of white supremacists, a vanishingly small group, is an illusion. But they do share a commonality: Antifa/BLM and white supremacists both are used to advance leftist power — by serving as, respectively, shock troops and scapegoats.

______________________________________________________________________

UPDATE: 

★★★ THE POPULIST REVOLT HAS JUST BEGUN ★★★

The Bank of America has been caught SECRETLY Handing Over Customer Data to the FBI as more and more Conservatives are Building Parallel Businesses and Structures! In this video, we’re going to look at the bombshell report that one of America’s largest banks is practically functioning as an intelligence agency, how the expelling of conservatives from more and more businesses is actually helping to create a parallel society, and how that society is already being built all around the world, providing a blueprint of a truly conservative post-globalist world, you are NOT going to want to miss this!

Trump Administration Counters Politically-Motivated Banking Discrimination

BY JIM GRANT

SEE: https://www.ammoland.com/2020/12/trump-administration-counters-politically-motivated-banking-discrimination/;

republished below in full unedited for informational, educational & research purposes:
In late November, the Trump administration took its firmest action yet to counteract ongoing banking discrimination against firearms-related companies.. IMG NRA-ILA

U.S.A. -(AmmoLand.com)- In late November, the Trump administration took its firmest action yet to counteract ongoing banking discrimination against businesses that serve America’s gun owners. The Office of the Comptroller of the Currency, a significant banking regulator, issued a proposed rule to prohibit politically-motivated service denials and to ensure large, nationwide banks would have to make offered products available to all law-abiding customers without ideological bias.

Of all the Obama/Biden administration’s attacks on the Second Amendment, Operation Choke Point (OCP) was one of the most insidious. Frequent readers of this page will recall how federal banking regulators, under the guise of shielding banks and the public from fraud, pressured financial service providers against doing business with lawful but politically-disfavored customers. These included sellers of firearms and ammunition, which were specifically singled out as “high risk” by the Federal Deposit Insurance Corporation in regulatory guidance provided to banks in 2011.

What made these firearm-related businesses high risk? In the circular reasoning of OCP, it wasn’t their creditworthiness or financial performance but the “reputation risk” they supposedly posed to banks that, so the story went, could anger third parties by serving the “high risk” clients. And the regulators made sure the banks understood that no one might be angrier than the regulators themselves: failing to heed their “risk-based” guidance could subject the banks to costly and embarrassing investigations. The simple solution was for the banks to avoid conducting business with “high risk” customers entirely.

The Obama/Biden administration retreated from OCP when Congressional investigators and other watchdogs revealed its obvious wrongdoing. The FDIC revised its infamous 2011 regulatory guidance in 2014, and issued further clarification in 2015, refocusing on case-by-case risk management, rather than debanking of entire industries. Nevertheless, the regulators portrayed the furor over OCP as a big misunderstanding, with banks supposedly overreacting to legitimate attempts to hinder scammers.

Subsequent events, however, confirmed that political activists were indeed deliberately trying to weaponize the financial services industry against the targets of their activism.

On February 18, 2018, the New York Times published an infamous essay by Andrew Ross Sorkin that called upon the financial services industry to adopt restrictions on relationships with gun companies to demonstrate its commitment to “moral responsibility.” The plan was for banks and payment processors to defund activities – like the making and sales of semiautomatic rifles – that anti-gun activists had unsuccessfully lobbied the political branches to ban.

Sorkin’s proposal, like OCP, recognized that financial services are the lifeblood of any successful business. But the pressure this time was to come from the social justice mob, not faceless government bureaucrats. The new OCC rulemaking actually cites Sorkin’s article as an example of how politics have infected the provision of financial services.

Even some in the government itself have retroactively embraced the tactics of OCP. After anti-gun Democrats took over control of the House Financial Services Committee following the 2018 midterms, the committee hauled a Wells Fargo Bank executive to a hearing to berate him for, among other things,  the bank’s transactions with gun companies.

Other banks, Rep. Carolyn D. Maloney (D-NY) lectured, had forced their firearm-related customers to adopt “best practices” that limited the scope of their lawful activities. These practices just happened to mirror unsuccessful legislative proposals pushed by anti-gun Democrats, that included such constitutionally dubious measures as refusing to sell otherwise-legal long guns to otherwise-eligible adults of military age. To his credit, the executive stood his ground, asserting, “We just don’t believe that it is a good idea to encourage banks to enforce legislation that doesn’t exist.”

The tenor of the hearing, however, made it unmistakably clear that certain committee members were unabashedly trying to pressure the bank to curb its business with certain customers, not because those customers were behaving illegally, but because the committee members found them objectionable.

All the while, firearm-related businesses were finding their options for financial services shrinking.

For its part, the Trump administration explicitly repudiated OCP, with the U.S. Department of Justice (which had participated in OCP under the Obama/Biden administration) providing written assurance to the U.S. House Judiciary Committee that the program had been terminated and would not be revived. Characterizing OCP as a “misguided initiative conducted during the previous administration,” the DOJ’s Aug. 16, 2017, letter stated:

“the Department will not discourage the provision of financial services to lawful industries, including businesses engaged in … firearms-related activities.”

Still, whether from lingering doubts left by OCP or in the vain hope of appeasing the social justice grievance lobby, some of America’s biggest banks have continued to shun lawful, creditworthy, and financially sound businesses within the firearm and ammunition sectors.

The proposed OCC rule aims to end politically-motivated manipulation of the financial service industry and to require large banks to provide fair access to all the products they offer to law-abiding customers who are able to satisfy predetermined “quantitative, impartial risk-based standards.” It reiterates that the Dodd-Frank Wall Street Reform and Consumer Protection Act requires “fair treatment of customers by . . . the institutions” subject to its jurisdiction. The rule would therefore establish enforceable standards of fairness for America’s largest banks. Those standards would prevent activists and banks from conspiring to deprive otherwise eligible customers of financial services for purely political reasons.

The rule, in other words, would refocus banks on doing their jobs of helping to promote lawful economic activity and managing financial risk while leaving policy decisions about what sorts of businesses are permissible in the first place to the political branches and the U.S. Constitution.

While some have questioned whether it is an appropriate role for government to tell private banks who they must provide financial services to, the major banks affected by the proposed rule have themselves been the beneficiary of support by American taxpayers. As Senator Kennedy (R-La.) pointed out last year, “[b]anks should not be able to discriminate against lawful customers on the basis of social policy. The banks should keep in mind that these lawful customers are the same hard-working taxpayers who bailed them out during the recession.”

Beyond bailouts during the recession, major banks regularly benefit from taxpayer dollars. We noted just this year that

 “[m]any of the same institutions that discriminate against lawful firearm activity are now the clearinghouses for the COVID-19 SBA loan programs, reportedly picking up billions of taxpayer dollars for processing fees along the way.”

If major banks get to benefit at the expense of the American taxpayer, especially at times when many Americans are struggling to make ends meet, then, at a minimum, they can be required to respect those same Americans’ constitutional rights.

The OCC is accepting comments on the rulemaking through the government’s online regulatory portals, (among other options) until Jan. 4, 2021. The NRA encourages all firearm-related businesses that have been harmed by political discrimination in the provision of financial services to provide their respectful and constructive feedback on the proposal.

We also thank the Trump Administration and Acting Comptroller of the Currency Brian P. Brooks for their leadership in seeking to restore fairness and sanity to the nationwide market for financial products. Ideological discrimination in the services businesses need to survive is a shameful, pernicious, and thoroughly un-American trend. The proposed OCC rule is a welcomed step toward eliminating it.


About NRA-ILA:

Established in 1975, the Institute for Legislative Action (ILA) is the “lobbying” arm of the National Rifle Association of America. ILA is responsible for preserving the right of all law-abiding individuals in the legislative, political, and legal arenas, to purchase, possess, and use firearms for legitimate purposes as guaranteed by the Second Amendment to the U.S. Constitution. Visit: www.nra.org

National Rifle Association Institute For Legislative Action (NRA-ILA)

 

NEXT NEWS NETWORK’S GARY FRANCHI EXCLUSIVE: ALEX JONES RIPS MASK OFF DEMOCRAT PLAN TO STEAL 2020 ELECTION FROM PRESIDENT TRUMP

Alex Jones delivers an exclusive interview to The Next News Network with host Gary Franchi to deliver bombshell intel and analysis on the Covid lockdowns, the election and more.