Tag Archive: High risk’ label from feds puts gun sellers in banks’ crosshairs


on May 19, 2014 in World News

High risk’ label from feds puts gun sellers in banks’ crosshairs

High risk’ label from feds puts gun sellers in banks’ crosshairs, hurts business Obama plan pressures financial institutions Gun retailers say the Obama administration is trying to put them out of business with regulations and investigations that bypass Congress and choke off their lines of credit, freeze their assets and prohibit online sales. Since 2011, regulators have increased scrutiny on banks’ customers. The Federal Deposit Insurance Corp. in 2011 urged banks to better manage the risks of their merchant customers who employ payment processors, such as PayPal, for credit card transactions. The FDIC listed gun retailers as “high risk”...

High risk’ label from feds puts gun sellers in banks’ crosshairs, hurts business Obama plan pressures financial institutions Gun retailers say the Obama administration is trying to put them out of business with regulations and investigations that bypass Congress...

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