Well, it's about time. The OCC and FDIC just dropped a final rule that finally puts an end to the shameful practice of big banks blackballing firearm businesses. You remember the deal — banks were using this vague 'reputational risk' excuse to deny gun shops and ammo dealers basic banking services, all because they didn't like what we sell. That's not just wrong, it was basically weaponizing the financial system against lawful businesses exercising their Second Amendment rights.
The new rule explicitly prohibits federal banking regulators from taking action against banks based on "reputational risk" — and that includes going after any institution that tries to cut off customers because of their political views, religious beliefs, or lawful business activities. Translation: Banks can no longer discriminate against gun shops just because some activists throw a fit.
NSSF's Larry Keane called it right — this puts the nail in the coffin of the 'woke' discrimination that banks have been waging against our industry. These banks were making "inappropriate distinctions" against firearm businesses, and they got away with it for years. Congress already rejected this practice, but it took the Trump administration stepping in to actually make it stop.
As a shop owner, I've seen how tough this has made things for legitimate FFLs. Getting a business account shouldn't be a battle, but for years that's exactly what it was. This is a real win for gun owners and the industry that serves them.