Bank of Amigo Freezes Gun Manufacturers Account

[Dusty]

We might see more of this type of shenanigan:

http://cnsnews.com/blog/gregory-gwyn-williams-jr/bank-america-freezes-gun-manufacturers-account-company-owner-claims

Bank of America has reportedly frozen the account of gun manufacturer American Spirit Arms, according to its owner, Joe Sirochman.

In a Facebook post dated December 29, Sirochman wrote the following:

“My name is Joe Sirochman owner of American Spirit Arms...our Web site orders have jumped 500 percent causing our Web site e-commerce processing larger deposits to Bank of America. So they decided to hold the deposits for further review.

“After countless hours on the phone with Bank of America, I finally got a manager in the right department that 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.’”(emphasis added)
Sirochman also wrote that he told the bank manager that “they have no right to make up their own new rules and regs” and that “[American Spirit is a] firearms manufacturer with all the proper licensing.”

He also noted that he has been doing business with Bank of America for over 10 years, but will now be looking for a new bank.

According to Unlawful News, this isn't the first time Bank of America has targeted a customer involved in the firearms industry.

McMillan Group International was reportedly told that its business was no longer welcome after the company started manufacturing firearms – even after 12 years of doing business with the bank.

Snip

[koz]

If you haven't already dumped Bank of America - now is definitely the time.

[Badger52]

Well, with Spirit Arms on top of McMillan, they clearly have an agenda and bigger concerns, dropping $10B+ to fix things with Fannie.

(Same story got resurrected here on the old McMillan thread.)

My local CU and its folks rock, and they get my biz.

[Paslode]

I have had it come up a couple times where the processing company called to question transactions that exceeded my average amount processed. And there have been a few time the bank has put a hold on my debit account because a purchase was made outside my typical habits.


If BoA had or has suspicion of fraudulent activity they might be in the right, if not you might make the case that this act by BoA is discrimination.

[chance]

I dumped them after dealing with their BS while I was over in Afghanistan. Now I have USAA and am now very happy.

[Lan]

Originally Posted by koz

If you haven't already dumped Bank of America - now is definitely the time.

If you're banking with anything other than a local credit union you're doing it wrong. Jamie Dimon can eat a dick for example. Don't know anything about USAA so I'm not going to speak on it.

[Paslode]

I received a reply.

XXXXX,
Very true.
Update : I have finally received the deposits Because of the post ..
Thank you for your support

Joseph P Sirochman
American Spirit Arms
16001 N Greenway Hayden Loop
Suite B
Scottsdale AZ 85260
480-367-9540 phone
480-367-9541 fax

[DIYPatriot]

Originally Posted by chance

I dumped them after dealing with their BS while I was over in Afghanistan. Now I have USAA and am now very happy.

We recently switched to USAA and I'm finally getting used to scanning checks, depositing, etc. Other than that, I'm golden.