[Cheerio]

By categorizing gun stores in such a way, it could virtually shut down gun dealers across the nation. Gun store owners are understandably concerned, and despite claims to the contrary, they feel the DOJ is unjustly restricting access to the credit they need to operate their businesses.

According to a Washington Times article:

A Justice Department representative said the agency is conducting several investigations that aim to hold accountable banks “who are knowingly assisting fraudulent merchants who harm consumers.”

“We’re committed to ensuring that our efforts to combat fraud do not discourage or inhibit the lawful conduct of these honest merchants,” the Justice Department said in a May 7 blog post.

[E. Pluribus Unum]

This could have the unintended consequence of making BitCoin a currency standard.

[rktman]

We need that anonymous gazillionaire to open the 2nd Amendment Bank of America.

[ryan71]

People are going to demand and buy guns somehow. Straight from the factory?

[BitWielder1]

I have no doubt Operation Chokepoint will be followed by Operation Checkpoint.

[Lazamataz]

Congress has the purse strings, right? Simply take a play out of Obama's playbook, and unilaterally create and fund a congressional bank that ONLY CATERS to Gun dealers.

Come after THAT, EinReich WithHolder.

[GT Vander]

There are think tanks that war game many different scenarios for future force and contingency planning. The scenario war gamed the most frequently is the American Public against the US Military, the result is the same everytime. The time line changes but the result doesn’t, the American public wins everytime, normally in about 12 weeks.

This is designed to change that result, it has no other reason other than that.

[Dilbert San Diego]

How can this be legal?

Gun dealers, assuming that they meet all legal requirements, have their business license, deal in legal products, have insurance, etc. are legally operating businesses.

How can we have a governmental operation to deny them banking services? On what legal basis? On what legal authority, can the government seek to choke off banking and money services to a legally operating business?

[Bloody Sam Roberts]

If this method is used to shut down legal enterprises that are not breaking any laws, this issue will wind up in the Supreme Court. There will be a great many suits filed. The NRA and other 2A advocacy groups could be in for a very busy 2-3 years...or more. I hope the makeup of the court is amenable to shooting this crap down at the appropriate time.

[I want the USA back]

Yeah, he’s doing that. Like I’ve said before, they are taking guns away from honest, law-abiding non-violent citizens and deliberately leaving them in the hands of violent criminals.

I said deliberately and meant it.

[Buckeye McFrog]

The Koch Brothers should write them all lines of credit and increase their wealth by a factor of a thousand.

[HammerT]

More like:

“Operation Chokepoint Fasces

[GraceG]

[Operation Chokepoint works directly with the Federal Deposit Insurance Corporation (FDIC) and lumps gun sellers into the same category as “high risk” businesses like pornographers, head shops, and pyramid schemes to prevent lending institutions from providing them with open lines of credit to fund their businesses.]

Funny how the left will throw their own sex maniac and hippie base under the bus in exchange for an opportunity to control the regular joe who wants to utilize their 2nd amendment rights...

[Joe Brower]

This thread has just added to the FreeRepublic "bang list" (firearms interest list) by adding the keyword "banglist".

Any time a firearms-related thread is created on FreeRepublic, please be sure to add the "banglist" keyword to it so that interested FReepers don't miss it. Just a suggestion.

Let Freedom Ring,

Click the pic to go to the Gun Facts v6 download page!

[Joe Brower]

Yet another example of how the lawless Obama regime unhesitatingly utilizes the power of the Federal government as a bludgeon against those it finds unfavorable.

[AZLiberty]

Seems like Walmart might lobby against this rule. They are a “gun dealer”.

[ZULU]

If this bastard isn’t impeached after the mid-terms its over for America.

I am not just using rhetoric here, I mean it. The only question for our future will be what kind of political entity will replace it - and how many.

He’s killing us.

[tanknetter]

I was thinking that one way around this would be to have gun clubs set themselves up as buyers to obtain weapons directly from manufacturers for resale (at a discount) to their members.

Then I remembered that the law requires interstate transfers he made through federally licensed gun dealers, right? Not sure a club could attain such a license. So the way all the pieces of the jigsaw puzzle fit together really falls into place: interstate transfers (and within some states all sales) require a gun dealer. So drive all the gun dealers out of business by denying them credit access.

[caveat emptor]

National mortgage regulation as well.

New rules aim to make mortgages safer .....

Which lenders do the rules cover? All companies that give out mortgages will be governed by the new rules -- big national banks, savings and loans, community banks and credit unions. .....

"The rules will encompass most of the market as it exists today," said William Emerson, president of QuickenLoans."

[yoe]

will read later to day...

[Blood of Tyrants]

I would think that there is a lawsuit in the works to prevent the FDIC from applying this new regulation to legitimate firearms manufacturers and dealers.