Big Banks Tout Being Pro Gun-Control, So Louisiana Just Took $600 Million Out of Their Hands
Top Louisiana officials have blocked two large bank corporations from participating in a road financing plan due to their gun control regulations.
On Thursday, both Citibank and Bank of America were denied the ability to be underwriters in an interstate highway financing deal, The Daily Wire reported.
Louisiana’s Bond Commission denied the banks $600 million as a response to the gun control regulations they placed on their gun store customers, according to Breitbart News.
In March, Citibank implemented new regulations that stated that gun store customers could not sell high capacity magazines if they wanted to maintain business with their bank.
In addition, they ordered that their customers refuse long gun sales to anyone 18-20 years old.
This defies the fact that it is legal for 18-20-year-olds to own these types of guns.
In April, Bank of America implemented regulations that would end their partnership with customers “who make military-style firearms for civilians,” ignoring the difference between fully automatic military rifles and semiautomatic civilian rifles.
The vote was a narrow 7-6 according to WDSU News, but the State Bond Commission made the decision.
The effort to keep Citibank and Bank of America out of the road financing plan was led by two Republicans — Attorney General Jeff Landry and Treasurer John Schroder.
Gov. John Bel Edwards’ administration opposed the motion.
The Louisiana government simply made it clear that they would not tolerate “bullying” from the banks that would harm citizens’ Second Amendment Rights,” according to The Daily Wire.
“You’re in the banking business,” Republican Rep. Blake Miguez said to the banks.
“Why have you all decided to enter the policymaking business?”
Schroder also commented on the subject: “I personally believe the policies of these banks are an infringement on the rights of Louisiana citizens.”
“As a veteran and former member of law enforcement, I take the Second Amendment very seriously,” he added.
Senator John N. Kennedy (R-La.) commented, “If you have zero respect for the U.S. Constitution, then you don’t need to do business with the state of Louisiana.”
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