Gun industry sees banks as new threat to Second Amendment

The owners and employees of Honor Defense, a gunmaker in Gainesville, Ga., seen here on April 25. Pete Ramey, left, works on the assembly line; Gary Ramey is the company’s owner; Pam Ramey is Gary Ramey’s wife and the company’s business manager; and Richard Moore also works on the assembly line. Photo Credit: AP/Lisa Marie Pane GAINESVILLE, Ga. — With Gary Ramey’s fledgling gun-making business taking off in retail stores, he decided to start offering one of his handguns for sale on his website. That didn’t sit well with the company he used to process payments, and they informed him they were dropping his account. Another credit card processing firm told him the same thing: They wouldn’t do business with him. The reason? His business of making firearms violates their policies. In the wake of high-profile mass shootings, corporate America has been taking a stand against the firearms industry amid a lack of action by lawmakers on gun control. Payment processing firms are limiting transactions, Bank of America stopped providing financing to companies that make AR-style guns, and retailers such as Walmart and Dick’s Sporting Goods imposed age restrictions on gun purchases. The moves are lauded by gun-safety advocates but criticized by the gun industry that views them as a backhanded way of undermining the Second Amendment. Gun industry leaders see the backlash as a real threat to their industry and are coming to the conclusion that they need additional protections in Congress to prevent financial retaliation from banks. […]

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