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Posted: 4/25/2013 4:25:46 AM EST
http://www.theblaze.com/stories/2013/04/24/financial-gun-control-ge-capital-quietly-cuts-off-lending-to-gun-shops/









General Electric, Co. has been quietly informing gun shop owners that the company will no longer be providing lending services to them, the Wall Street Journal reports. GE Capital is apparently reconsidering its relationship to firearms companies following the Sandy Hook shooting.




...A spokeswoman for Wells Fargo & Co. said bank officials decided to exit gun financing nearly a decade ago. Bank of America Corp., which got out of the business in 2008, didn’t respond to requests for comment. A spokeswoman for Citigroup Inc. said the bank doesn't finance loans for firearms.






Link Posted: 4/25/2013 4:27:25 AM EST
[#1]
Discrimination is not illegal.  Only discrimination against certain groups which are unable to change their situation.
Link Posted: 4/25/2013 4:28:53 AM EST
[#2]
I'd be out of Wells Fargo if I hadn't been told to not touch accounts prior to buying a house. Day after we close I'll be gone.
Link Posted: 4/25/2013 4:52:21 AM EST
[#3]
I have a Bud's Gun Shop credit card (made it easy to order stuff from them while getting "cash" price and 90 days no interest) with a $4000 limit that is through GE Money. I went to buy another gun a few weeks ago and noticed that the card is no longer accepted as a payment option. I called up Bud's and was informed that GE Money basically cut them off.



So I called GE Money and asked about it, they said the same thing. They also referred me to a "business locator" on their website to find other businesses that accepted the card (it's Bud's branded, but it's actually under the "sporting goods" group of GE Money cards). Needless to say... Nobody else who carries anything of interest to me accepts the card.



In a nutshell, I'll be calling to cancel the card and telling them to go f*ck themselves.
Link Posted: 4/25/2013 4:57:32 AM EST
[#4]
Link Posted: 4/25/2013 4:59:49 AM EST
[#5]
Quoted:
It's capitalism.  If they don't want to loan money to permit activities that they see as risky, fine.  This creates an opportunity for other lenders to take a larger chunk of the action in the only part of the economy that doesn't suck.  Support the good ones, let the idiots flail.


This.

Their business so its their rules -- even if we don't like them.

And its not discrimination because it doesn't involve sex, religion, or race.
Link Posted: 4/25/2013 5:02:26 AM EST
[#6]
Quoted:
Discrimination is not illegal.  Only discrimination against certain groups which are unable to change their situation.


That's not entirely true, because you could change your religion if you wanted to, and that's a protected class.  All of it's BS.  Discrimination by private entities should not be penalized by the state.
Link Posted: 4/25/2013 5:03:20 AM EST
[#7]
Quoted:
Quoted:
Discrimination is not illegal.  Only discrimination against certain groups which are unable to change their situation.


That's not entirely true, because you could change your religion if you wanted to, and that's a protected class.  All of it's BS.  Discrimination by private entities should not be penalized by the state.


Fair point on the religion.
Link Posted: 4/25/2013 5:13:22 AM EST
[#8]
I'd be out of Wells Fargo if I hadn't been told to not touch accounts prior to buying a house. Day after we close I'll be gone.


I have three banking choices, Wells Fargo, BOA or a stupid local bank with fees for everything
Link Posted: 4/25/2013 6:13:42 AM EST
[#9]



Quoted:


It's capitalism.  If they don't want to loan money to permit activities that they see as risky, fine.  This creates an opportunity for other lenders to take a larger chunk of the action in the only part of the economy that doesn't suck.  Support the good ones, let the idiots flail.


Hard to let the idiots fail when they can call the white house and get a loan...of our $.

 
Link Posted: 4/25/2013 6:18:34 AM EST
[#10]
I am not surprised that GE did this,Jeffrey Immlet(Ge's CEO) has been a Obama lapdog for awhile.
If money is to be made in a venture GE will find a way to capitalize.So to say there is no money to be made in the firearm's business is foolish...hence why I believe our President had a talk with Mr Immlet.

What better way to limit the purchase of firearms than at the money source. Biden said the President was working on other ways to enact gun control well this is one way.
Link Posted: 4/25/2013 6:19:29 AM EST
[#11]
Quoted:
It's capitalism.  If they don't want to loan money to permit activities that they see as risky, fine.  This creates an opportunity for other lenders to take a larger chunk of the action in the only part of the economy that doesn't suck.  Support the good ones, let the idiots flail.


Capitalism doesn't exist in this country; only government cronyism.
Link Posted: 4/25/2013 6:37:11 AM EST
[#12]
Killing the business lines of credit by all these banks for firearms manufacturers, gun dealers and wholesalers is a blatant attempt to drive them out of business.  If we had a real Justice Department it would be something worthy of their investigation on the grounds of conspiracy and collusion.

Meanwhile, I wonder which foreign bank might just step forward to fill the gap (and valid business opportunity) being opened by this move?  Will Arfcomers and other Americans be willing to deal with companies that have ties to Chinese banks if they are the ones who will extend those critical business lines of credit?
Link Posted: 4/25/2013 6:47:02 AM EST
[#13]
GE, Wells Fargo, Citigroup and BoA are all left-wing and have been for some time.

I think some non-leftists automatically think business/finance=conservative.  Not true.  The leftist rot is everywhere.

Link Posted: 4/25/2013 6:51:29 AM EST
[#14]
We lost freedom of association in this country 50 years ago. I've always believed that was a bad thing, one of those instances where we addressed a problem by creating a bigger problem.

People and businesses should be free to associate or not with any people or businesses they choose, the fact that they are not makes this sort of thing problematic, but it shouldn't be.

We also shouldn't have a banking system dominated by the primary dealers of the federal reserve system, but an essentially unlimited credit line from the fed makes it hard for more rational entities like credit unions on the member-owned model (such as USAA) to compete with for-profit, too big to fail banks, so our monetary/credit system is FUBAR and easily used as a political weapon.
Link Posted: 4/25/2013 6:53:27 AM EST
[#15]
Quoted:
It's capitalism.  If they don't want to loan money to permit activities that they see as risky, fine.  This creates an opportunity for other lenders to take a larger chunk of the action in the only part of the economy that doesn't suck.  Support the good ones, let the idiots flail.


Only? Hardly. Video games, alcohol, and movies are thriving right now.
Link Posted: 4/25/2013 7:06:10 AM EST
[#16]
Quoted:
Discrimination is not illegal.  Only discrimination against certain groups which are unable to change their situation.


What if they only went against black rifles?  
Link Posted: 4/25/2013 7:14:14 AM EST
[#17]
I've been happy with chase, they are fine with open carry in their banks and let me put BAMF as my title on my business debit card
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