Operation Choke Point forces bank to dump gun store

The obama regime is closing gun stores via "operation choke point". He is choking off gun sales to Americans.
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Operation Choke Point forces bank to dump gun store
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Kelly Riddell
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A Massachusetts gun seller says it’s the latest victim of a federal multiagency task force that is squeezing financing sources for industries deemed “high-risk” by the Obama administration, such as porn stores, drug paraphernalia shops and gun merchants.

Powderhorn Outfitters, which sells firearms, archery gear and fishing equipment in Hyannis, Massachusetts, posted in an online forum this week that its longtime bank — TD Bank — had suddenly dropped its account.

“TD Bank does not support the Second Amendment and has contacted us here at the Powderhorn to say that due to our involvement in firearms sales, we as a business are no longer welcome to have an account at their bank,” the sporting goods store posted on northeastshooters.com, an online forum for shooting enthusiasts in New England states. “They classify us in the same gray area as the local weed shops sprouting up on the Cape.”

The Times reported last week of gun retailers’ complaints that the administration is bypassing Congress and is using increased scrutiny by financial regulators to choke off their lines of credit and squeeze them out of business.

Since 2011, the Federal Deposit Insurance Corp. has directed banks to scrutinize the risks of their merchant customers who use payment processors, such as PayPal, for credit card transactions. In addition, the Justice Department has launched “Operation Choke Point,” a credit card fraud probe ensnaring banks that do business with 24 industries deemed “high-risk” by the FDIC.

“The ‘choke point’ in this operation is the nation’s payments infrastructure, the means by which merchants process nearly $5 trillion in consumer purchases in the U.S. each year,” Jason Oxman, CEO of the Electronic Transactions Association, said in an op-ed for The Hill last month.

“Federal law enforcers are targeting merchant categories like payday lenders, ammunition and tobacco sales and telemarketers — but not merely by pursuing those merchants directly. Rather, Operation Choke Point is flooding payments companies that provide processing service to those industries with subpoenas, civil investigative demands and other burdensome and costly legal demands,” Mr. Oxman wrote.

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The sheer evil "brilliance" of Obama’s minions never ceases to amaze me. They are tenacious in their efforts to find ways to circumvent the Constitution and our laws – they simply never give up. There is no better example of this currently than Operation Choke Point. They were caught in 2013 targeting legal industries they did not approve of by bullying banks and other financial institutions into cutting off funds to those whose activities were not ‘acceptable.’ Specifically, the gun industry:

Storefront gun dealers, online dealers and ammunition dealers are on the “high risk” list, along with porn and other salacious products (as if they’re even comparable, the Second Amendment is constitutional right, yet it’s on the DOJ hit list). DOJ argues the program is needed to stop fraud, but that’s a lie. The program is used to target politically inconvenient industries without the permission of Congress.

The Federal Deposit Insurance Corporation (FDIC), at the behest of Barack Obama, has declared that gun stores are “high risk” businesses. “High risk” businesses have been, up until now, a small category of supposedly disreputable businesses, which have included pornographers, sellers of drug paraphernalia, and payday lenders.

The second step in the process is Eric Holder’s Justice Department’s “Operation Choke Point.” And its function is specifically to choke off any credit or credit card processing for businesses (now including gun owners) who fall in the “high risk” category.
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(Bubba ya better go get an AR15 while your still can. Eric Holder and Obama doesn't want you to be able to defend yourself.)