We recently noted the thinly-veiled threat that New York State comptroller Thomas J. DiNapoli made when he sent a friendly letter to most of the nation’s largest financial institutions. In it, he hinted — wink, wink — that it could be bad for their business if they continue to facilitate transactions that involve firearms and related products.
DiNapoli suggested that these companies should consider whether gun transactions should be classified with restricted high-risk purchases like pornography, illicit drugs, and crypto-currencies. “If gun violence continues unabated in society,” he wrote, “public outcry … may grow and create significant financial risk for the company.”
DiNapoli happens to control over $200 billion in New York state pension funds. And gosh, it’d be a real shame to lose some of that juicy business just because a bank happens to also process credit card transactions for, say, Brownells, Midway USA or your local gun store.
The clear implication of DiNapoi’s letter wasn’t lost on its recipients at Visa, MasterCard, JPMorgan Chase, Bank of America, Wells Fargo, American Express, Discover Financial Services, and others.
We weren’t the only ones who were gobsmacked by the Empire State’s brazen strong-arm tactics. Nebraska-based Hornady Manufacturing, makers of premium ammunition like Critical Defense, Critical Duty and Superformance Match, among others, has decided that after that disgusting display, they won’t be doing any business with the state’s law enforcement agencies.
They issued the following press release earlier this week.
Today, the State of New York did one of the most despicable acts ever perpetrated by any state by asking New York banks, financial institutions and insurance companies to stop doing business with the gun and ammo industry.
While it may not make a difference to New York, Hornady will not knowingly allow our ammunition to be sold to the State of NY or any NY agencies. Their actions are a blatant and disgusting abuse of office and we won’t be associated with a government that acts like that. They should be ashamed.
-Steve Hornady, president of Hornady Manufacturing Company
What would happen if more ammo manufacturers, accessory makers and even gun companies decided that they choose not to aid and abet this kind of intimidation by one of their large government customers?