Bank of America, Citi Risk Hit to Their Texas Businesses Over Gun Policies

[Edwardteach72]

Based on a new bill that had passed the State Senate and waiting in the State House.

The new bill would block government entities from contracting with banks and other financial services providers that have policies that restrict business with the firearms industry. Under the bill, companies with 10 employees or more seeking a government contract worth at least $100,000 would have to verify in writing that they do not have a policy or directive that “discriminates” against the firearms or ammunition industries.

It’s targeted at large banks and financial institutions that have attempted to “use financial pressure to infringe upon our Second Amendment rights,” according to a statement from the sponsors in an analysis of the bill.

Bank of America, Citi Risk Hit to Their Texas Businesses Over Gun Policies

(Bloomberg) -- Bank of America Corp. and Citigroup Inc., the top two underwriters in the $3.9 trillion municipal bond-market, are at risk of getting shut out of Texas because of a push by Republican state lawmakers to punish the banks for their restrictive gun policies.The legislation, Senate...

finance.yahoo.com

 

[Drinkthekoolaid]

Based on a new bill that had passed the State Senate and waiting in the State House.

The new bill would block government entities from contracting with banks and other financial services providers that have policies that restrict business with the firearms industry. Under the bill, companies with 10 employees or more seeking a government contract worth at least $100,000 would have to verify in writing that they do not have a policy or directive that “discriminates” against the firearms or ammunition industries.

It’s targeted at large banks and financial institutions that have attempted to “use financial pressure to infringe upon our Second Amendment rights,” according to a statement from the sponsors in an analysis of the bill.

Bank of America, Citi Risk Hit to Their Texas Businesses Over Gun Policies

(Bloomberg) -- Bank of America Corp. and Citigroup Inc., the top two underwriters in the $3.9 trillion municipal bond-market, are at risk of getting shut out of Texas because of a push by Republican state lawmakers to punish the banks for their restrictive gun policies.The legislation, Senate...

finance.yahoo.com

Normally I'm against increased government regulations. But in this case the regulation is to help protect the 2a and fight them at their own games with their own tactics I approve.

 

[libertysnake]

Reap it, bitches.

Let the sword cut both ways till we stop playing this bullshit game and restore the idea of running a company with morals.

 

[libertysnake]

Also, to be fair, we're talking about them forcing someone to comply with the bill of rights. We're not talking about Texas getting into the business of cancel culture.

That being said, if Texas is going to open this pandora's box, they better apply it across the board evenly with regard to other rights -- or else it will be selective / cancel culture.

 

[GOPerfect]

I gotta put some thought into this one....

 

[technicalgadget]

Why not? Banks should be politically agnostic. If they are playing the lefty game, let them be cut and bled by the same sword for which they have judged others.

 

[repete]

I gotta put some thought into this one....

I was wondering what all that smoke was from.

 

[Celt]

My shoot from the hip response is GOOD!

I dont see it as more regulation, I see it as a way to make big banks play fair and not dirty. But Id have to give it more thought and hear more perspectives before committing to that.

Does this seem like the baker who didnt want to bake a gay wedding cake type of thing? Would the government force bakers to bake gay wedding cakes? How is this different? Id say its different because the gay wedding cake may violate the religious rights of the baker and once someones rights are messed with its different. The banks cant argue that it firearms companies violate their religion..... At least until they make being a demoncrat a religion.

 

[SomeSoldier]

My shoot from the hip response is GOOD!

I dont see it as more regulation, I see it as a way to make big banks play fair and not dirty. But Id have to give it more thought and hear more perspectives before committing to that.

Does this seem like the baker who didnt want to bake a gay wedding cake type of thing? Would the government force bakers to bake gay wedding cakes? How is this different? Id say its different because the gay wedding cake may violate the religious rights of the baker and once someones rights are messed with its different. The banks cant argue that it firearms companies violate their religion..... At least until they make being a demoncrat a religion.

Does this state give these companies tax breaks? That is the difference. If you take tax payer money then you should be bound to honor the Constitution.

 

[Celt]

Does this state give these companies tax breaks? That is the difference. If you take tax payer money then you should be bound to honor the Constitution.

Great point, all the more reason I say GOOD.

 

[kev74]

Get woke, go broke.

Nice work, Texas!

 

[Carlos Hathcock]

They should move the capital building to Texas.

 

[Phazer]

Saul Alinsky's "Rules for Radicals" (the Leftist bible):

4) Make the enemy live up to their own book of rules

 

[Acer-m14]

Does this state give these companies tax breaks? That is the difference. If you take tax payer money then you should be bound to honor the Constitution.

you left out Govt bail outs ... but still taxpayer $