I was just reading about a person in Kentucky who bought a gun and used his credit card for the purchase. The bank refused payment and said that the bank did not allow purchases “at this type of merchant”. The person immediately went to his bank and closed the account. Has anyone else ever read about banks being able to control what you are allowed to purchase with your own money ? It is not like he was getting a loan to buy something, he was paying for it from his account. Here is the screenshot, I had to crop most of it out so it can be read here.
I have heard of such things, and that there is a move by the Federal government to encourage such things to bypass the 2nd amendment, but I have not personally seen it. Credit Unions would be much less likely than banks to institute such things, but in places like California and New York and their ilk, anything is possible. A general rule would be only to use cash as long as it exists to make any kind of firearms-related purchase. There were and are some who prohibit using their accounts to purchase cannabis, or at last there were.
I've heard of it with guns, but it's mostly on the part of the banks that will not issue the merchant accounts to sellers. The internet says that PayPal, Stripe and Square will not process gun purchases. A Merchant Code for guns was recently created (last September) so such purchases can be tracked, so expect to see more of this.
If the bank lends money to buy a gun that kills or injures someone, can the bank be sued? If so, you can understand why they would do this - liability??
If a bank lends money to purchase a vehicle that is used to kill one or more people, can the bank be sued?
Sign says "restricted card." I wonder what other restrictions there are on this account. Need to know more!
I was wondering what exactly that meant, too. It does not say restricted account, it says restricted card, which seems to imply that it is a type of card that is restricted in what can be purchased, and not the account of the person with the card.
when we are converted to the FedNow program...controlled by central bank=feds.. no body will buy anything not approved...
As we are being moved to a digital form of currency, cash will be done away with in the next couple of years. And then, yes, they will be able to say whether or not we can buy anything.
during the early days of the end of cannabis prohibition, banks were known to close accounts of users who purchased at dispensaries or grow supply shops. not so much now as more states have legalized recreational use. having worked for financial institutions in the past, i've witnessed some dodgy maneuvers they can do to make life difficult.
Just to grind a few gears, I would think that if a baker can be sued for not baking a cake for a gay wedding all because of his personal beliefs, that a bank could be sued for the same reasoning. If the buyer is of legal age and has no marks against him / her and since buying and owning a gun is Constitutionally legal, no matter what the beliefs of the banking system might be, the bank should be able to be sued. But then, why spend thousands of dollars just to lose a suit against an army of highly paid bank lawyers?
And, because people resent banks being nosy about people’s money, this creates,opportunities for others. https://oldglorybank.com/press?fbcl...y2CbuG0SXvX8tZseEhy5jWvE4VsXg&mibextid=Zxz2cZ