At least one banking giant is dragging its feet when it comes to complying with efforts by President Donald Trump, the federal government and Congress to end the unlawful banking discrimination against firearm-related business.
J.P. Morgan Wealth Management recently denied essential banking services to Brandon Maddox, Founder and CEO of Silencer Central, a firearm suppressor company, according to an email exchange provided to NSSF. A senior associate and wealth planning specialist with J.P. Morgan Wealth Management denied services when Maddox inquired if the banking giant works with companies in the firearm industry.
As a matter of transparency, Maddox serves on NSSF’s Board of Governors.
The J.P. Morgan Wealth Management associate’s response was simple, if not disappointing. After all, Maddox’s business is based in South Dakota and his senators are Senate Majority Leader John Thune (R-S.D.) and Sen. Mike Rounds (R-S.D.), who is a member of the Senate Banking Committee.
“We apologize, but unfortunately, we are prohibited from working with entities and associated individuals that are in the category of arms, ammunition and explosives. Sorry for any confusion,” the senior associate wrote.
No mention of knives, but this is all downstream of Operation Choke Point, which saw Hogue Knives in the crosshairs.
Read the whole thing at Shooting News Weekly…
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