Banks Tried to Curb Gun Sales. Now Republicans Are Trying to Stop Them. [The New York Times]
Citigroup, Inc. (C)
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Source: The New York Times
Image Credit Gary Neill By Alan Rappeport May 25, 2018 When Congress decided not to take significant action after a spate of mass shootings this year and last, some big banks opted to take matters into their own hands by restricting financing for gun sellers. Now, Republican lawmakers are pressing regulators to stop banks from doing so, over concerns they are veering too far into social activism. The issue has put the Republican Party in the awkward position of choosing between its embrace of free markets and its concerns over infringement of the Second Amendment, even as the school-shooting crisis has persisted with the deadly attack at Santa Fe High School in Texas on May 18 and the wounding of at least two people Friday at a middle school in Indiana. Guns are creating a rare rift between Republicans and the financial industry, which has been among the party’s biggest contributors. “If you’re going to turn us into a nation of red banks and blue banks,
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