Bank of America Reportedly Freezing Gun Manufacturer's Accounts

[Geee]

American Thinker:

You might think that a professional outfit such as Bank of America operated based on stated policy and not caprice. But not according to owner of American Spirit Arms Joe Sirochman.

On his Facebook page, Sirochman tells of his adventures with the banking giant. Like other gun dealers and manufacturers, his business is booming currently - Internet orders are up 500 percent. This caused there to be an unusual number of deposits made to his business' BoA account via his website's E-commerce system, triggering an account freeze. This may not seem strange, as banks have security systems that temporarily freeze accounts when detecting anomalous activity. This happened to me once after using my debit card to make an unusual series of purchases; the freeze was irritating, but nothing a few minutes on the phone didn't remedy. But this is where Sirochman's story takes a bizarre turn. He writes (edited for style):

After countless hours on the phone with Bank of America, I finally got a manager in the right department who told me the reason that the deposits were on hold for further review. Her exact words were:

"We believe you should not be selling guns and parts on the Internet."

[Geee]

Bank of America Releases Gun Maker's Frozen Deposits; Company Owner Credits Public Outcry

 

In a Facebook post dated January 7, Sirochman updated his fans on the Bank of America ordeal explaining to them that the company's deposits had been released. He also thanked his supporters for their help.

The post read:

"I first want to thank all of you that have called, emailed and posted your support. I also wanted to post an update and to clear up some questions:

"Bank of America started holding American Spirit Arms deposits for review on 12-18-12. Since that time we had to fight tooth and nail to get them released. We have now gotten most of the deposits and have set up new accounts with a local bank.

"Again I want to thank everyone for the outpour of support on this matter and believe because of you we were able to get our deposits."

http://cnsnews.com/blog/gregory-gwyn-williams-jr/bank-america-releases-gun-makers-frozen-deposits-company-owner-credits

 

[pollyannaish]

What amazes me is that they think they can get by with this. I blame that directly on the lawlessness of the administration.

[Geee]

What amazes me is that they think they can get by with this. I blame that directly on the lawlessness of the administration.

 

Well, I guess that is all dependent on 'who you are'. Thousand of banks were fined millions of dollars in this administration for supposed lending discrimination.

[Rheo]

What amazes me is that they think they can get by with this. I blame that directly on the lawlessness of the administration.

 

Well, I guess that is all dependent on 'who you are'. Thousand of banks were fined millions of dollars in this administration for supposed lending discrimination. campaign contributions by extortion.

Fixed it for you.

[Valin]

Bank of America Releases Gun Maker's Frozen Deposits; Company Owner Credits Public Outcry

 

In a Facebook post dated January 7, Sirochman updated his fans on the Bank of America ordeal explaining to them that the company's deposits had been released. He also thanked his supporters for their help.

The post read:

"I first want to thank all of you that have called, emailed and posted your support. I also wanted to post an update and to clear up some questions:

"Bank of America started holding American Spirit Arms deposits for review on 12-18-12. Since that time we had to fight tooth and nail to get them released. We have now gotten most of the deposits and have set up new accounts with a local bank.

"Again I want to thank everyone for the outpour of support on this matter and believe because of you we were able to get our deposits."

http://cnsnews.com/blog/gregory-gwyn-williams-jr/bank-america-releases-gun-makers-frozen-deposits-company-owner-credits

 

 

 

"Most Everything Has Been Resolved"

 

Were it me I believe I would resolve this by finding another bank.

[Geee]

Bank of America Releases Gun Maker's Frozen Deposits; Company Owner Credits Public Outcry

 

In a Facebook post dated January 7, Sirochman updated his fans on the Bank of America ordeal explaining to them that the company's deposits had been released. He also thanked his supporters for their help.

The post read:

"I first want to thank all of you that have called, emailed and posted your support. I also wanted to post an update and to clear up some questions:

"Bank of America started holding American Spirit Arms deposits for review on 12-18-12. Since that time we had to fight tooth and nail to get them released. We have now gotten most of the deposits and have set up new accounts with a local bank.

"Again I want to thank everyone for the outpour of support on this matter and believe because of you we were able to get our deposits."

http://cnsnews.com/blog/gregory-gwyn-williams-jr/bank-america-releases-gun-makers-frozen-deposits-company-owner-credits

 

 

 

 

 

 

 

"Most Everything Has Been Resolved"

 

Were it me I believe I would resolve this by finding another bank.

 

My thought exactly!!

[Valin]

Bank of America Releases Gun Maker's Frozen Deposits; Company Owner Credits Public Outcry

 

In a Facebook post dated January 7, Sirochman updated his fans on the Bank of America ordeal explaining to them that the company's deposits had been released. He also thanked his supporters for their help.

The post read:

"I first want to thank all of you that have called, emailed and posted your support. I also wanted to post an update and to clear up some questions:

"Bank of America started holding American Spirit Arms deposits for review on 12-18-12. Since that time we had to fight tooth and nail to get them released. We have now gotten most of the deposits and have set up new accounts with a local bank.

"Again I want to thank everyone for the outpour of support on this matter and believe because of you we were able to get our deposits."

http://cnsnews.com/blog/gregory-gwyn-williams-jr/bank-america-releases-gun-makers-frozen-deposits-company-owner-credits

 

 

 

 

 

 

 

"Most Everything Has Been Resolved"

 

Were it me I believe I would resolve this by finding another bank.

 

My thought exactly!!

 

Seems like a No Brainer to me. Friends of mine who are in business are always Bank Shopping.

[Argyle58]

Over the past year there have been several cases of BOA showing hostile intent toward gun dealers and manufacturers...even gun buyers. In February of 2012 they were involved with an almost identical episode as the one described here with a different company. In April they dropped the McMillan Group as customers because two of their divisions manufactured firearms and firearm accessories. They have also been accused multiple times of refusing to honor customer purchases of firearms, ammunition and accessories at gun shows and from online retailers.

 

I have refused to do business with Bank of America for years, primarily because of their policy of wooing illegal aliens as customers (that's actually how they got their start), but this new policy of theirs pretty much seals the deal for me.

[pollyannaish]

It is one thing to have a corporate policy against guns. It is the same thing as Hobby Lobby or Chik-fil-a revealing their beliefs.

 

However, what is not ok is to freeze the assets of a customer you don't agree with. It would be the same as either Hobby Lobby or Chik-fil-a not being willing to serve someone who was black or gay.

 

That is the line they crossed that makes this so egregious. Also, if this is their policy, they need to state it up front and then let customers make their own decisions. I will not bank with them ever because if they can do this on guns, what if they don't like the church I go to or the newspapers I subscribe to or a myriad other things?

 

Way, way over the line.