{"id":145728,"date":"2021-05-20T13:13:11","date_gmt":"2021-05-20T17:13:11","guid":{"rendered":"https:\/\/www.gunsamerica.com\/digest\/?p=145728"},"modified":"2021-05-20T13:13:11","modified_gmt":"2023-09-07T12:15:46","slug":"small-banks-know-what-big-banks-wont-learn-about-firearm-industry","status":"publish","type":"post","link":"https:\/\/gunsamerica.com\/digest\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\/","title":{"rendered":"Small Banks Know What Big Banks Won’t Learn About Firearm Industry"},"content":{"rendered":"\n
\"Small
(Photo: NSSF<\/em>)<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

By Larry Keane<\/strong><\/p>\n\n\n\n

Big corporations with \u201cwoke\u201d policies are waking up to the fact that smaller businesses are glad to take the business they shun.<\/p>\n\n\n\n

American Banker reported<\/a><\/strong> that corporate banks are quaking in their boots over the Texas state legislature\u2019s debating a bill that would end taxpayer support to contract with corporations that willfully discriminate against the firearm industry. The bill, SB 19<\/strong><\/a>, is termed the Firearm Industry Nondiscrimination (FIND) Act and would end discrimination by corporate entities against the firearm industry if those companies wanted to do business with the state. The legislation would deny corporations the ability to benefit from taxpayer-funded state or municipal contracts while at the same time holding policies that would deny services to firearm-related businesses. Texas\u2019s legislature is taking a stand that they\u2019re unwilling to sell out the Second Amendment rights of their citizens to safeguard the profit margins of big corporations that use their might to force policy outside of legislative channels.<\/p>\n\n\n\n

The bill passed the state\u2019s House of Representatives and is pending in the state Senate. One group is now saying they\u2019re fine with the $58.4 billion in local bonds that are at stake. If corporate entities \u2013 including big banks like Bank of America and Citigroup \u2013 choose to deny services to an entire industry because they don\u2019t want to support Second Amendment rights, local banks are ready to take the business.<\/p>\n\n\n\n

Locals Like It<\/h4>\n\n\n\n

\u201cI don\u2019t think it\u2019s an issue in Texas with our banks domiciled here. We have remained neutral on this,\u201d said Steve Scurlock, director of government relations for the Independent Bankers Association of Texas, according to American Banker. \u201cThis may give some opportunity for expansion in the public finance space for our community banks.\u201d<\/p>\n\n\n\n

The legislation doesn\u2019t force the state to end contracts with corporations. All it does is require corporations that seek to do business with the state and local municipalities to certify that they hold no policies that discriminate against firearms or ammunition businesses and won\u2019t hold those policies while the state contracts are in force. Corporations that have contracts could continue to compete for them, should the bill be passed by the state Senate and signed by Republican Gov. Gregg Abbott. They just have to stop unfairly discriminating against an industry that provides the means for Second Amendment rights.<\/p>\n\n\n\n

SEE ALSO: Bank of America Sells Out Gun & Ammo Purchasers As Potential Criminals<\/a><\/h2>\n\n\n\n

Texas state Rep. Giovanni Capriglione shepherded the bill through the House and said it\u2019s really quite simple.<\/p>\n\n\n\n

\u201cThey should not be able to receive taxpayer dollars if they do not support the Constitution,\u201d Rep. Capriglione said. He was ready to name names too. When pressed, Rep. Capriglione said Bank of America, Citigroup, JPMorgan Chase, Wells Fargo and U.S. Bancorp., along with Intuit, Square and PayPal have all held discriminatory policies to choke out gun-related business while they enjoy Texas tax money to do it.<\/p>\n\n\n\n

The legislation was so important to the state that Republican Lt. Gov. Dan Patrick marked<\/a><\/strong> it as one of his top 30 priority bills at the start of the legislative session. The bill\u2019s lead sponsor, Republican state Sen. Charles Schwertner, explained the bill\u2019s importance this way.<\/p>\n\n\n\n

\u201cThese institutions hold our money and attempt to use financial pressure to infringe upon our Second Amendment rights,\u201d Rep. Schwertner said. \u201cThis is unacceptable.\u201d<\/p>\n\n\n\n

Step Carefully<\/h4>\n\n\n\n

Corporations are huffing and puffing, telling legislators that if the bill is signed into law, it will cost taxpayers more money. Local banks, whose employees live, work and raise their families in Texas are singing a different tune, according to the Texas Bankers Association.<\/p>\n\n\n\n

\u201cThis is Texas where there is broad support for the Second Amendment by our elected state leaders and a large number of our bank members, so our association has not opposed the legislation,\u201d the group\u2019s general counsel, John Heasley, said in an emailed statement to American Banker. \u201cIt is also a competitive marketplace, and in that context, individual institutions have to decide for themselves their policies and the implications based on the markets and customers they serve.\u201d<\/p>\n\n\n\n

In other words, Heasley\u2019s telling big corporations not to step in something that can\u2019t be scraped off.<\/p>\n\n\n\n

That\u2019s not just common sense. That\u2019s smart business.<\/p>\n\n\n\n

Larry Keane <\/strong>is Senior Vice President of Government and Public Affairs and General Counsel for the National Shooting Sports Foundation<\/a>, the firearms industry trade association.<\/em><\/p>\n\n\n\n

Buy and Sell on GunsAmerica!<\/a><\/strong><\/h2>\n","protected":false},"excerpt":{"rendered":"

Big corporations with \u201cwoke\u201d policies are waking up to the fact that smaller businesses are glad to take the business they shun.<\/p>\n","protected":false},"author":115,"featured_media":145729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_specdata_upc":"","_specdata_placement":"","footnotes":""},"categories":[244,234,240],"tags":[132,586,311],"featured":[],"hunt365":[],"class_list":{"0":"post-145728","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-2nd-amendment-r2kba","8":"category-columns","9":"category-this-week","10":"tag-buzz","11":"tag-column","12":"tag-nssf"},"yoast_head":"\nSmall Banks Know What Big Banks Won't Learn About Firearm Industry<\/title>\n<meta name=\"description\" content=\"Big corporations with \u201cwoke\u201d policies are waking up to the fact that smaller businesses are glad to take the business they shun.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gunsamerica.com\/digest\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Banks Know What Big Banks Won't Learn About Firearm Industry\" \/>\n<meta property=\"og:description\" content=\"Big corporations with \u201cwoke\u201d policies are waking up to the fact that smaller businesses are glad to take the business they shun.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gunsamerica.com\/digest\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\/\" \/>\n<meta property=\"og:site_name\" content=\"Gun Reviews and News | GunsAmerica.com\/Digest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gunsamerica\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-20T17:13:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-07T12:15:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gunsamerica.com\/digest\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-20-at-1.09.19-PM.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1096\" \/>\n\t<meta property=\"og:image:height\" content=\"688\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Wire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@gunsamerica\" \/>\n<meta name=\"twitter:site\" content=\"@gunsamerica\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Wire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\\\/\"},\"author\":{\"name\":\"News Wire\",\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/#\\\/schema\\\/person\\\/87634856a7e290d26d603f784a635a65\"},\"headline\":\"Small Banks Know What Big Banks Won’t Learn About Firearm Industry\",\"datePublished\":\"2021-05-20T17:13:11+00:00\",\"dateModified\":\"2023-09-07T12:15:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\\\/\"},\"wordCount\":778,\"commentCount\":11,\"publisher\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/small-banks-know-what-big-banks-wont-learn-about-firearm-industry\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Screen-Shot-2021-05-20-at-1.09.19-PM.jpg\",\"keywords\":[\"Buzz\",\"Column\",\"NSSF\"],\"articleSection\":[\"2nd Amendment - 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