Cash is king...
Via the Press Herald:
With Gary Ramey’s fledgling gun-making business taking off in retail stores, he decided to start offering one of his handguns for sale on his website.
That didn’t sit well with the company he used to process payments, and they informed him they were dropping his account. Another credit card processing firm told him the same thing: They wouldn’t do business with him.
The reason? His business of making firearms violates their policies.
In the wake of high-profile mass shootings, corporate America has been taking a stand against the firearms industry amid a lack of action by lawmakers on gun control. Payment-processing firms are limiting transactions, Bank of America stopped providing financing to companies that make assault weapon-style guns, and retailers like Walmart and Dick’s Sporting Goods imposed age restrictions on gun purchases.
The moves are lauded by gun-safety advocates but criticized by the gun industry, which views them as a backhanded way of undermining the Second Amendment. Gun industry leaders see the backlash as a real threat to their industry and are coming to the conclusion that they need additional protections in Congress to prevent financial retaliation from banks.
Read more here.