Bank of America Freezes Gun Manufacturer's Account

Discussion in 'Politics' started by pspr, Jan 7, 2013.

  1. pspr


    Bank of America has reportedly frozen the account of gun manufacturer American Spirit Arms, according to its owner, Joe Sirochman.

    In a Facebook post dated December 29, Sirochman wrote the following:

    “My name is Joe Sirochman owner of American Spirit Arms...our Web site orders have jumped 500 percent causing our Web site e-commerce processing larger deposits to Bank of America. So they decided to hold the deposits for further review.

    “After countless hours on the phone with Bank of America, I finally got a manager in the right department that told me the reason that the deposits were on hold for further review -- her exact words were -- ‘We believe you should not be selling guns and parts on the Internet.’”(emphasis added)

    Sirochman also wrote that he told the bank manager that “they have no right to make up their own new rules and regs” and that “[American Spirit is a] firearms manufacturer with all the proper licensing.”

    He also noted that he has been doing business with Bank of America for over 10 years, but will now be looking for a new bank.

    According to Unlawful News, this isn't the first time Bank of America has targeted a customer involved in the firearms industry.

    McMillan Group International was reportedly told that its business was no longer welcome after the company started manufacturing firearms – even after 12 years of doing business with the bank.
  2. achilles28


    Scary. Now the top 5 mega banks decide who can buy and sell.

    This is why we should take all our money out of these parasites (C, JPM, BoA) and bank local !
  3. Wallet


    +1, quit using their credit cards as well.
  4. achilles28


    Yup. Ever see those new "pay pass" credit card and debit cards they have now?

    Swipe the card, and funds are automatically debited.

    No pin code, no user authorization. Lots of fat-finger horror stories with that one
  5. pspr


    BAM and the government are too cozy, too. I think they are poorly managed both nationally and regionally.
  6. Tsing Tao

    Tsing Tao

  7. achilles28


    TT - scary sh*T.

    I've had a checking account frozen due to a late payment on a credit card. This kinda stuff is a real wake up call to anyone that believes in the sanctity and security of banks. It's all an illusion. Call me crazy, but I'm considering dumping my excess nw into gold bullion and digging a few holes.
  8. Tsing Tao

    Tsing Tao

    Credit Unions are the place to be. Some offer better rates, and are employee owned. No more big bank bullshit.

    I use one in Southern Florida. Pays 4.25% on deposits up to $25k, and 1.2% on everything beyond that. I get about $1000 a year in interest.
  9. achilles28


    I agree. CU are where it's at. The problem with all this is the implicit FED backing only extends to the top 5 mega-banks. All their competition gets thrown to the wolves. Iow, requires more DD