{"id":176294,"date":"2023-02-20T20:04:40","date_gmt":"2023-02-21T01:04:40","guid":{"rendered":"https:\/\/www.gunsamerica.com\/digest\/?p=176294"},"modified":"2023-02-20T20:04:40","modified_gmt":"2023-09-08T17:32:20","slug":"california-goes-full-woke-on-banking-discrimination-against-firearm-industry","status":"publish","type":"post","link":"https:\/\/gunsamerica.com\/digest\/california-goes-full-woke-on-banking-discrimination-against-firearm-industry\/","title":{"rendered":"California Goes Full &#8216;Woke&#8217; On Banking Discrimination Against Firearm Industry"},"content":{"rendered":"\n<blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">Michigan State. <br \/><br \/>Half Moon Bay.<br \/><br \/>Monterey Park.<br \/><br \/>No place in America is safe from the epidemic of gun violence. Today, I introduced <a href=\"https:\/\/twitter.com\/hashtag\/SB637?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">#SB637<\/a> to force Wall Street to make a choice between blood money offered by the gun industry and doing business with the State of California. 1\/ <a href=\"https:\/\/t.co\/Gx3VClDXJz\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">pic.twitter.com\/Gx3VClDXJz<\/a><\/p>&mdash; Senator Dave Min (@SenDaveMin) <a href=\"https:\/\/twitter.com\/SenDaveMin\/status\/1626321499945840640?ref_src=twsrc%5Etfw\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">February 16, 2023<\/a><\/blockquote> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p><strong>By Larry Keane<\/strong><\/p>\n\n\n\n<p>Never underestimate the ability of California lawmakers to embrace the wildest ideas when it comes to eliminating gun rights. Other states are pushing back on \u201cwoke\u201d banking discrimination. Not California. There\u2019s an effort there to require it.<\/p>\n\n\n\n<p>State Sen. Dave Min introduced&nbsp;<strong><a href=\"https:\/\/leginfo.legislature.ca.gov\/faces\/billTextClient.xhtml?bill_id=202320240SB637\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">SB 637<\/a><\/strong>, which requires that California\u2019s public finances cease business with any banks or lenders that have business relationships with firearm manufacturers. The bill would affect every aspect of California\u2019s finances, including municipal bonds, capital projects and the state\u2019s debt.<\/p>\n\n\n\n<p>It would be easy to say this is California taking the opposing track to what Texas did with the Firearm Industry Nondiscrimination (FIND) Act. That\u2019s the law that states if corporate banks hold discriminatory policies, they can\u2019t compete for state or municipal contracts. Those corporate banks are free to discriminate if they choose, but forfeit the ability to profit from Texas taxpayer-funded contracts. Similar legislation has been introduced in Congress by&nbsp;<strong><a href=\"https:\/\/www.nssf.org\/articles\/nssf-applauds-u-s-rep-bergmans-find-act-introduction-in-congress\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">U.S. Rep. Jack Bergman (R-Mich.)<\/a><\/strong>&nbsp;and&nbsp;<a href=\"https:\/\/www.nssf.org\/articles\/nssf-applauds-sen-daines-find-act-stand-against-woke-discrimination\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>U.S. Sen.<\/strong>&nbsp;<strong>Steve Daines (R-Mont.)<\/strong><\/a>. Sen. Kevin Cramer (R-N.D.) introduced the&nbsp;<a href=\"https:\/\/www.nssf.org\/articles\/nssf-applauds-u-s-sen-kevin-cramers-fair-access-to-banking-act-introduction\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>Fair Access to Banking Act<\/strong><\/a>, which would require banks to provide access to services, capital, and credit based on the objective risk assessment of individual customers, rather than subjective broad-based decisions affecting whole categories or classes of customers. Several states are considering their own FIND Acts, including&nbsp;<strong><a href=\"https:\/\/www.legis.iowa.gov\/legislation\/BillBook?ba=SSB1094\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">Iowa<\/a>,&nbsp;<a href=\"https:\/\/leg.mt.gov\/bills\/2023\/billpdf\/HB0356.pdf\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">Montana<\/a>,&nbsp;<a href=\"https:\/\/apps.legislature.ky.gov\/record\/23rs\/hb254.html\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">Kentucky<\/a><\/strong>&nbsp;and&nbsp;<a href=\"https:\/\/www.wvlegislature.gov\/Bill_Status\/bills_text.cfm?billdoc=hb3400%20intr.htm&amp;yr=2023&amp;sesstype=RS&amp;i=3400\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>West Virginia<\/strong><\/a><strong>.<\/strong>&nbsp;Florida Gov. Ron DeSantis&nbsp;<a href=\"https:\/\/www.flgov.com\/2021\/12\/15\/governor-desantis-announces-legislative-proposal-to-stop-w-o-k-e-activism-and-critical-race-theory-in-schools-and-corporations\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>recently announced<\/strong><\/a>&nbsp;he\u2019s seeking similar legislation for his state.<\/p>\n\n\n\n<p>The difference between these laws and California\u2019s legislation is that California\u2019s proposal&nbsp;<em>requires<\/em>&nbsp;corporations to discriminate for the sole reason that firearm manufacturers are in the business of making guns.<\/p>\n\n\n\n<p>That\u2019s nothing to sneeze at, given California\u2019s economy is poised to be the world\u2019s 4<sup>th<\/sup>&nbsp;largest at&nbsp;<a href=\"https:\/\/calmatters.org\/commentary\/2023\/01\/california-economy-surges-but-future-cloudy\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>$3.4 trillion<\/strong><\/a><strong>.<\/strong>&nbsp;According to the World Economic Forum, it is&nbsp;<a href=\"https:\/\/www.weforum.org\/agenda\/2022\/11\/california-s-economy-may-surpass-germany-s-but-what-s-beneath-the-numbers\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>set to surpass<\/strong><\/a>&nbsp;Germany\u2019s economy.<\/p>\n\n\n\n<p>According to the&nbsp;<a href=\"https:\/\/www.oc-breeze.com\/2023\/02\/18\/224503_senator-min-introduces-legislation-requiring-all-banks-seeking-to-do-business-with-california-to-cut-ties-with-the-gun-industry\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>OC Breeze<\/strong><\/a><strong>,<\/strong>&nbsp;California Treasurer\u2019s Office, the state manages approximately $3.1 trillion in banking transactions within a fiscal year, including selling bonds and overseeing the state\u2019s debt and investment portfolios. California currently reports $63.3 billion in total General Obligation bonds outstanding.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Codifying Operation Choke Point<\/h2>\n\n\n\n<p>Sen. Min\u2019s proposed legislation is a state-level Operation Choke Point, the illegal coercion by the Department of Justice (DOJ) and Federal Deposit Insurance Corporation (FDIC) to discriminate against firearm manufacturers and businesses. A U.S. House of Representatives Oversight and Government Reform investigation&nbsp;<strong><a href=\"https:\/\/www3.nssf.org\/share\/factsheets\/PDF\/OperationChokePoint.pdf\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">found<\/a><\/strong>&nbsp;that the FDIC included federally licensed firearms retailers and other companies in the firearms and ammunition industry \u2013 some of the most heavily regulated businesses in the country \u2013 on a list of risky businesses without any evidence or justification.<\/p>\n\n\n\n<p>Sen. Min\u2019s bill would codify that. He\u2019s no stranger to antigun legislation. He authored the law that ended the sale of firearms and ammunition on state property, which ended gun shows on state fairgrounds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SEE ALSO: <a href=\"https:\/\/www.gunsamerica.com\/digest\/franklin-armory-ca320-added-to-california-roster-of-certified-handguns\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">Franklin Armory CA320 Added to California Roster of Certified Handguns<\/a><\/h2>\n\n\n\n<p>The bill, though, might be facing legal headwinds. Specifically, it could run headlong into the&nbsp;<a href=\"https:\/\/constitution.congress.gov\/browse\/essay\/artI-S8-C3-1\/ALDE_00013403\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>Commerce Clause<\/strong><\/a><strong>.<\/strong>&nbsp;That\u2019s the part of the U.S. Constitution that gives Congress the sole power to regulate interstate commerce. Sen. Min\u2019s bill would deny business to any corporate entity unless it adopts California\u2019s mandate that those businesses refuse business to law abiding, credit-worthy firearm manufacturers. Given the size of California\u2019s economy, this is a direct threat to firearm manufacturers, which comprise a Constitutionally-protected industry. If the government forces the industry out of existence by threat of economic might, it is unlawfully limiting the ability of the firearm industry \u2013 and the banks that provide financial services \u2013 from conducting interstate commerce. That\u2019s the responsibility of Congress to regulate \u2013 not California.<\/p>\n\n\n\n<p>This bill would also run afoul of the Second Amendment. The goal of this bill obviously is to drive the firearm industry out of existence, and with it the ability of law-abiding Americans to exercise their right to acquire firearms for lawful purposes including self-protection. It would shutter the industry that provides the tools law enforcement uses to protect America\u2019s communities and the U.S. military to defend the homeland.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">California Discrimination<\/h2>\n\n\n\n<p>This isn\u2019t the&nbsp;<a href=\"https:\/\/www.nssf.org\/articles\/who-do-pension-funds-work-for\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>first time<\/strong><\/a>&nbsp;California has wielded economic might to discriminate against the firearm industry. California Public Employees\u2019 Retirement System, or CalPERS, is one of the largest public employee pension funds in the country. Entire industries have been on the CalPERS blacklist including tobacco and fossil fuels. Of course, gun control activists who have been having little luck in passing irrational legislation, are also targeting pension funds nationwide to urge divestment.<\/p>\n\n\n\n<p>The problem is that fund managers owe a legal, fiduciary obligation to their investors \u2013 those people putting money into the public retirement funds. Fund managers aren\u2019t picking the best performing portfolios, rather they are investing other people\u2019s money to buoy special interests \u2013 in this case denying investment into firearm-related businesses at the behest of gun control.<\/p>\n\n\n\n<blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/SB637?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">#SB637<\/a> requires that the State\u2019s public finances cut off business with any banks or lenders with business customers that manufacture firearms. Read the full release. 4\/4 <a href=\"https:\/\/t.co\/FttxnkBdbl\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">https:\/\/t.co\/FttxnkBdbl<\/a><\/p>&mdash; Senator Dave Min (@SenDaveMin) <a href=\"https:\/\/twitter.com\/SenDaveMin\/status\/1626321783799554048?ref_src=twsrc%5Etfw\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">February 16, 2023<\/a><\/blockquote> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p>Tucker Carlson, of Fox News\u2019 Tucker Carlson Tonight,&nbsp;<a href=\"https:\/\/www.nssf.org\/articles\/tucker-carlson-calls-out-calpers-for-political-investment-decisions\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>reported in 2020<\/strong><\/a>&nbsp;that Yu Meng, who was the Chief Investment Officer at CalPERS, and while he was there \u201clong engaged in shareholder activism to advance leftwing causes in this country like gun control and have been very aggressive about it.\u201d At the same time, CalPERS invested Californians\u2019 public employee retirement funds into companies that supply the Chinese military.<\/p>\n\n\n\n<p>Meng resigned from CALPers in 2020, and the public fund was&nbsp;<a href=\"https:\/\/www.institutionalinvestor.com\/article\/b1qzcgwrc1t8m6\/CalPERS-Held-Improper-Meetings-About-Ben-Meng-s-Exit-Ex-Board-Member-Alleges\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\"><strong>later sued<\/strong><\/a>&nbsp;by a former board member for alleging that CalPERS improperly held a closed door meeting about Meng\u2019s exit, and has since refused to release records about it or of the fund\u2019s assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Antigun Future<\/h2>\n\n\n\n<p>None of that seems to concern Sen. Min. In fact, he sees his radical antigun efforts as a springboard to higher office. U.S. Sen. Dianne Feinstein (D-Calif.) announced she would not seek re-election in 2024. The scramble to replace her began before her official announcement, with U.S. Rep. Katie Porter (D-Calif.) throwing her hat into the arena. State Sen. Min sees this as his opportunity to take his antigun agenda from California to Washington, D.C. Rep. Porter&nbsp;<strong><a href=\"https:\/\/calmatters.org\/commentary\/2023\/01\/u-s-senate-race-starts-games-of-musical-chairs\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">endorsed<\/a><\/strong>&nbsp;Sen. Kim to replace her at the U.S. House of Representatives.<\/p>\n\n\n\n<p>Sen. Min\u2019s legislation, and his political ambitions, shows the clear threat to American rights when special interests use the levers of government to pick and choose which rights are favored and disfavored.<\/p>\n\n\n\n<p><strong>Larry Keane\u00a0<\/strong><em>is Senior Vice President of Government and Public Affairs and General Counsel for the\u00a0<a href=\"https:\/\/www.nssf.org\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\">National Shooting Sports Foundation<\/a>, the firearms industry trade association.<\/em><\/p>\n\n\n\n<p class=\"has-text-align-left\" style=\"font-size:24px\"><strong><em>*** <a href=\"https:\/\/gunsamerica.com\" target=\"_blank\" class=\"clickTracking\" campaign=\"california-goes-full-woke-on-banking-discrimination-against-firearm-industry\" title=\"California Goes Full 'Woke' On Banking Discrimination Against Firearm Industry\" target=\"_blank\" rel=\"noreferrer noopener\">Buy and Sell on GunsAmerica!<\/a> ***<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Never underestimate the ability of California lawmakers to embrace the wildest ideas when it comes to eliminating gun rights. <\/p>\n","protected":false},"author":115,"featured_media":176296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_specdata_upc":"","_specdata_placement":"","footnotes":""},"categories":[234],"tags":[132,586,311],"featured":[],"hunt365":[],"class_list":{"0":"post-176294","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-columns","8":"tag-buzz","9":"tag-column","10":"tag-nssf"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>California Goes Full &#039;Woke&#039; 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