Freedom Financing Act

[V-Tach]

Hope this passes.......

Congressman Roger Williams (R-Texas). The legislation would ensure large financial institutions cannot deny service to certain constitutionally-protected industries that are fully compliant with all laws and statutes.


https://www.nssf.org/nssf-applauds-...atives-introduction-of-freedom-financing-act/

 

[Sam7sf]

Outstanding news.

 

[BillFairbanks]

I like the bill. I wish he would’ve introduced it when the Republicans had control of the House


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[jrbfishn]

Yeah, probably not much chance right no.

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[Vaquero]

Lotta acting.
Damn little doing.

 

[deemus]

Par for the course.

 

[AustinN4]

So it is wrong to make a baker make a wedding cake for gays, but it is OK to force a private business to do business with a company they don't want to?

 

[Vaquero]

So it is wrong to make a baker make a wedding cake for gays, but it is OK to force a private business to do business with a company they don't want to?

It's all wrong.
The bakers efforts should be aimed where he or she chooses.
My investments (financial backing) should be focused where I desire. Gain or lose.

It ain't the government's place to say.

 

[AustinN4]

It's all wrong.
It ain't the government's place to say.

Agreed, was just pointing out the inconsistency.

 

[SQLGeek]

Here's the thing. The Fed got this ball rolling by initiating Operation Chokepoint. The banks were all too happy to go along of course.

 

[Vaquero]

Here's the thing. The Fed got this ball rolling by initiating Operation Chokepoint. The banks were all too happy to go along of course.

That's true.

 

[Army 1911]

Banks are publicaly held companies and are already subject to numerous fed regulaions including fed insurance.

Not the same as a mom & pop bakery.

 

[AustinN4]

Not the same as a mom & pop bakery.

Sure it is, the principle is the same.

 

[BillFairbanks]

Sure it is, the principle is the same.

Not really.

The baker was perfectly happy to sell them a cake. He just didn’t want to use his personal artistic talents to decorate a cake for something he felt was against his closely held religious beliefs.




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[TheDan]

Sure it is, the principle is the same.

The banking system is a government sanctioned monopoly. Your only options are to do business with them or completely drop out of society.

You can just go find another baker, or even bake your own damn cake.

 

[AustinN4]

The banking system is a government sanctioned monopoly. Your only options are to do business with them or completely drop out of society.

Monopoly? Hardly. There are thousands of FDIC-insured banks in this country. Pick one. Don't like them, pick another. There also other options but I wouldn't do business with them.

 

[oldag]

Monopoly? Hardly. There are thousands of FDIC-insured banks in this country. Pick one. Don't like them, pick another. There also other options but I wouldn't do business with them.

A large firm (e.g., firearm manufacturer) can't do business with just any bank. Many of those thousands of banks will not have adequate capitalization to support a large company. And yet more will not have the services required to meet a large firm's requirements.

And there are a limited number of credit card processors. Seems I have read that some have refused to service gun firms. {I could be mistaken on this, but if not now it is only a matter of time.}

This a similar situation, in my opinion, to the 30.06/30.07. Can a private firm doing business with the public discriminate? And what about when that discrimination conflicts with the Constitution? Although one could make a stronger legal case that the banks are not violating the Second Amendment (which I believe the 30.06/30.07 does violate).

Not an easy answer here.

 

[AustinN4]

A large firm (e.g., firearm manufacturer) can't do business with just any bank. Many of those thousands of banks will not have adequate capitalization to support a large company. And yet more will not have the services required to meet a large firm's requirements.

You do have a point with this.

 

[Army 1911]

Sure it is, the principle is the same.

So the mom and pop store is a publically held company?

 

[TheDan]

Monopoly? Hardly. There are thousands of FDIC-insured banks in this country. Pick one. Don't like them, pick another. There also other options but I wouldn't do business with them.

Ok, cartel is a better term than monopoly. They are all part of the same system.