livingston
20×102mm Vulcan
California Assembly Resolution Calls for Banks to Refuse to Lend to Gun Manufacturers and Retailers
California has 109 gun-control laws that restrict how and where guns can be used – more than any other state in the country.
Now, Assemblywoman Sydney Kamlager-Dove (D-Los Angeles) wants to “encourage” financial institutions to stop lending to gun manufacturers and gun retailers, through Assembly Concurrent Resolution 115. Resolutions are usually trial balloons for future legislation, and do not require the Governor’s signature.
The purpose of Kamlager-Dove’s bill is “to affect the proliferation of guns by urging six nationally chartered banks to curtail their relationships with gun manufacturers. If major banks refuse to extend credit to gun manufacturers, borrowing costs for gun manufacturers would likely increase, which could reduce industry investment in additional capacity or new business lines. Such a result could reduce the proliferation of guns not only in California, but also across state lines,” bill analysis says.
When pressed in a recent hearing by Assemblywoman Melissa Melendez (R-Lake Elsinore) to explain the goal of the resolution, Kamlager-Dove said, “the goal is to encourage financial institutions to reconsider those whom they lend debt to – specifically targeting gun manufacturers.”
https://californiaglobe.com/section...e-to-lend-to-gun-manufacturers-and-retailers/
California has 109 gun-control laws that restrict how and where guns can be used – more than any other state in the country.
Now, Assemblywoman Sydney Kamlager-Dove (D-Los Angeles) wants to “encourage” financial institutions to stop lending to gun manufacturers and gun retailers, through Assembly Concurrent Resolution 115. Resolutions are usually trial balloons for future legislation, and do not require the Governor’s signature.
The purpose of Kamlager-Dove’s bill is “to affect the proliferation of guns by urging six nationally chartered banks to curtail their relationships with gun manufacturers. If major banks refuse to extend credit to gun manufacturers, borrowing costs for gun manufacturers would likely increase, which could reduce industry investment in additional capacity or new business lines. Such a result could reduce the proliferation of guns not only in California, but also across state lines,” bill analysis says.
When pressed in a recent hearing by Assemblywoman Melissa Melendez (R-Lake Elsinore) to explain the goal of the resolution, Kamlager-Dove said, “the goal is to encourage financial institutions to reconsider those whom they lend debt to – specifically targeting gun manufacturers.”
https://californiaglobe.com/section...e-to-lend-to-gun-manufacturers-and-retailers/
