Trump rule prohibits banks from denying service to gun manufacturers

In the last few days of his term, President Trump dropped the hammer on Joe Biden and the Democrat party’s anti-gun agenda.

On Thursday, the Trump administration finalized a new rule that bars banks from denying service to industries like gun manufacturers. Instead, the new rule “will instruct large financial institutions to only deny services to specific clients on a case-by-case basis instead of making industry-wide blacklists,” the Washington Free Beacon reported.

In 2013, the Obama administration pressured banks to drop gun manufacturers and payday lenders through a measure known as Operation Choke Point, setting a disturbing precedent. The Obama administration singlehandedly created chaos for entire industries. President Trump ended the measure in 2017, and this latest move to prevent future presidents from bringing it back is a huge win.

If Joe Biden wants to put that same pressure on gun manufacturers or other businesses he doesn’t like, he will have to take time away from his new $1.9 trillion coronavirus relief proposal.

Trump staying busy

President Trump is just days away from leaving the White House, but he is staying busy making key changes before Joe Biden comes in and begins undoing all Trump’s work.

Trump knows that Biden is no friend of the 2nd Amendment, and ensuring he doesn’t easily bring back Operation Choke Point shows that President Trump never stopped fighting for Americans and our 2nd Amendment rights.

Before the election, Biden promised to add new restrictions on gun ownership. “It’s long past time we take action to end the scourge of gun violence in America,” he said. “As president, I’ll ban assault weapons and high-capacity magazines, implement universal background checks, and enact other common-sense reforms to end our gun violence epidemic.”

In reality, Biden’s election has been incredible for the gun business as fears of Democrat gun bans have driven gun sales up 73% in 2020 from 2019. And Democrats winning control of the White House and both houses of Congress hasn’t helped alleviate fears.

Jurgen Brauer, the chief economist at Small Arms Analytics, said, “It is generally true that when we have a president coming from the Democratic Party that we see higher firearms demand, and associated sales are primarily stimulated by the fear that there may be federal legislation pushed through.”

Long four years ahead

For Americans who value their 2nd Amendment rights, it will be a long four years without President Trump to protect them.

Hopefully, Republicans will get their act together and put forth solid candidates who can win back the House and the Senate in 2022. And on the bright side, allowing Biden and to ram through portions of his agenda and showing Americans what the Democrats really stand for should help in achieving a 2022 victory.

For now, Republicans need to prepare to fight tooth and nail against a party that intends to do everything in its power to strip Americans of their 2nd Amendment rights.

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