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Intuit Policy Reversal After Probe
In a notable policy shift, financial software provider Intuit recently altered its stance, thereby no longer excluding lawful firearms businesses from utilizing specific QuickBooks services.
This alteration transpires following an investigation spearheaded by U.S. Senate Commerce Committee Ranking Member, Senator Ted Cruz (R-Texas), who diligently explored the restrictive practices applied by financial service giants Intuit, JP Morgan, and Bank of America upon firearms sellers and manufacturers.
Discriminatory Practices Unearthed
A Texas firearm parts manufacturer had sounded the alarm, revealing that Intuit had unexpectedly canceled its subscription to QuickBooks payroll services.
Intuit cited a violation of its acceptable use policy, even though the company did not produce firearms, thus not contravening said policy.
A dissection of the acceptable use policy displayed that businesses engaged in “[g]uns and [f]irearms [m]anufacturing” were marked ineligible for several QuickBooks services up until August 1, 2023.
Banking Giants Possibly Influential
A deeper dive into Intuit’s actions uncovered potential influences from banking behemoths JPMorgan and Bank of America.
According to Senator Cruz’s communications with Intuit, these banking partners demanded Intuit enforce specific policies regarding firearms businesses.
WATCH: FBI Director Wray Admits Gov’t Been Seizing Personal Data from Banks Related to Gun Purchases
Discrepancies arose regarding which bank demanded what – JPMorgan acknowledged dictating policy on payment processing, while Bank of America denied providing instructions relating to firearms businesses.
Praise and Continued Vigilance from NRA-ILA
The National Rifle Association Institute for Legislative Action (NRA-ILA) extolled Senator Cruz’s office for procuring a significant shift in corporate policy.
The policy, which previously marginalized members of the firearm industry, was altered after the Senator investigated complaints from constituents, who experienced unforeseen business disruptions when access to essential services was unexpectedly severed.
Senator Cruz and his team traced decision-making through brand hierarchies and onto large national banks, challenging the brand’s startlingly indifferent treatment of constituents.
ESG and Ideological Agendas
The role of Environmental, Social, and Governance (ESG) investing, a strategy focused on a company’s impact and practices related to environmental, social, and governance issues, cannot be ignored in this situation.
Some businesses, including large national banks, have adopted policies influenced by activist and institutional investors under the ESG banner, sometimes at the expense of small businesses and contrary to a more general public opinion or legal standards.
An Ongoing Battle for Small Businesses
Small businesses, particularly those engaging in constitutionally protected activities like those associated with the Second Amendment, often find themselves beleaguered by vaguely-worded, non-negotiable “user agreements.”
SEE ALSO: Lawmakers Expand Investigation Into Banks Sharing Gun Owner Info with FBI
These agreements typically offer no due process or constitutional protection, often significantly impacting their day-to-day operations.
Senator Cruz’s active intervention brought relief not only to the impacted businesses but also cast a light upon a problematic situation requiring broader legislative resolution.
Looking Forward: A Need for Broad Legal Protections
While Senator Cruz and his team have been commended for their resolute response and securing a beneficial outcome for the firearms industry, the broader issue of discrimination against businesses engaged in constitutionally protected activities remains.
Lessons from history and the effectiveness of civil rights legislation point towards a need for comprehensive legal protection for all entities lawfully engaged in activities protected by the Constitution, including those within the firearms industry.
The Full Letter
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These POS commie banks and financial firms need to feel some pain!
Red states like TX, FL, MO, & the like should immediately begin suspending the banking authority of any institution that pulls that crap.
Every 2A advocate should pull their money from any financial institution owned or associated with JPMorgan and Bank of America. Perhaps the run on the bank will help send the appropriate message. Anheuser Busch Inbev has felt the power of voices focused against inappropriate behaviors’ of woke corporations.