Over the past few years, leftists pressured banks and other financial institutions into "debanking" companies in the firearms industry.
JPMorgan Chase has announced that they will no longer engage in the practice.
The Truth About Guns reported:
The dangerous epidemic of large banking institutions discriminating against, or “debanking,” companies within the gun industry—especially makers of modern semi-auto rifles incorrectly referred to by many as “assault weapons”—has been occurring for a long time.
And JPMorgan Chase, one of the largest financial institutions in the country, has been right in the middle of the controversy. Now, however, it seems leadership at JPMorgan Chase is finally going to do the right thing.
According to a news item posted online on February 2 by the National Shooting Sports Foundation (NSSF), the big bank recently announced that its policy of denying services to manufacturers of modern semi-automatic rifles has been rescinded.
“That’s a welcome reversal of policy after NSSF met with JPMorgan Chase officials to work to end the discriminatory policy,” Larry Keane, NSSF senior vice president and general counsel, wrote in the news item. “It is also the most recent of the big banks, including Bank of America and Citigroup, that have shifted banking service policies that previously froze out members of the firearm industry.”
This is indeed welcome news.
To read more, go here.
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