Citibank recently made news by announcing arbitrary restrictions on firearms-related merchants who hold accounts with them. Now, it Wells Fargo has quietly made a similar move, dumping Tactical Night Vision Company, citing the company’s “profile” as a reason.
So the left’s war against gun owners and America’s gun culture continues apace. For 37 years, Wells Fargo happily serviced the California-based company known for its night-vision gear and related accessories. Now, out of nowhere, Wells sent TNVC a 60-day notice of account termination. Never mind that the company doesn’t make or sell firearms, magazines or ammunition.
Here’s TNVC’s post concerning the action from Arfcom:
So Wells Fargo gave us the 60 day notice – We don’t meet their new “policies”
So after 37 years of business, (13 years of direct corp business), they have given us notice that we have to look for another bank to do our business with. This based on our “profile”, whatever that means. they would not tell us any details. A few years ago Chase told us they could not do any of our Merchant Card Processing because we sold “high power lasers”.
It seems the more and more of the banking industry is joining suit as many know just as Citi Bank announced THIS I know McMillan and a few others have already been down this path. Heck we’re not even a firearms manufacture (not that it matters), this is outrageous family run business’s getting held hostage for political gains. After all, the firearms industry as a whole is a multi-billion dollar industry. All too familiar what U-Tube is doing as well.
We know, “welcome to the party pal”….It begins.
We contacted TNVC for confirmation of the story. Company president and CEO Victor Di Cosola wrote us back and confirmed the story and the details. The bank, he wrote, gave no further explanation other than citing the company’s “profile”.
This isn’t Tactical Night Vision Company’s first brush with mega-corporate political bias. According to the same post at Arfcom, Chase Bank terminated TNVC’s merchant card processing services a few years ago because the company sold “high power lasers”.
Frankly, money talks a lot louder than politics or virtue signaling in most cases. And some companies have corkscrewed themselves into bankruptcy by holding onto radical political beliefs.
As gun owners, we have a choice with whom we do business, too. That choice stands as the single most effective way for the People of the Gun to get the attention of companies working to degrade and destroy America’s gun culture.
It’s not as if Wells Fargo has a lot of brand equity these days. Late last year, the company faced severe scrutiny over allegations they concealed billions in losses and fraud.
Wells Fargo defrauded the government during financial crisis: suit
More bad news for Wells Fargo.
A Manhattan federal appeals court on Thursday revived a whistleblower suit against the beleaguered bank, reviving allegations by two former employees that Wells hid billions in losses and defrauded the federal government during the financial crisis.
The former employees also claim they were fired when they brought the alleged misconduct to higher ups.
The appeals court decision continues an incredible streak of unfavorable news for Well Fargo, most of it self-inflicted.
The bank and its CEO, Tim Sloan, are facing a slew of class-action suits, government investigations, and angry shareholders over years of alleged impropriety and ripping off customers.
Oh, and Wells has had a funny habit of creating millions of fraudulent checking accounts in unsuspecting people’s names. So there’s that, too.
What’s in your wallet?
So… which bank deserves my business, TTAG?
I would love to see a list of alternatives here since I carry a Wells Fargo CC. I should apply for an NRA card…depending on the rates. But then again, I always pay off my balance every month, so the rates don’t really matter to me.
I would still like to see a commenters list of favorable banks. is there a Bank of the Holy Hand Grenade or something?
I wonder if the NRA would be interested in starting a competing bank?
That would require someone to do some work. LOL
Also if you’re a veteran, Navy Federal Credit Union, world’s largest credit union, is another option. In the last year they have opened up eligibility to all veterans. USAA is Texas based, NFCU Virginia based. Have dealt with both, USAA had to be nudged by the SEC to turn over the fraudulent info on an account opened in my name, but did it. NFCU has great customer service. I would guess they do business accounts too.
Local credit union
Or hire a nice little asian tailor lady to sew another zipper on your mattress.
Joe, if you got that much cash you obviously need to buy more guns. Just cause you’re already a super owner doesn’t mean you can’t get more.
Nanashi…. You are correct as far as credit unions go. I used to do business with banks then went to a credit union and there is all the difference in the world.
A local bank, most probably.
“Corporate Malfeasance…And Blame Shifting—another fun psychological game of shifty business practices blaming the victim, or the aggreved party…” I seen this behavior in some shady private landlords….
Sounds like pure discrimination. Will no longer deal with Citi or Wells Fargo.
The time is coming where there will need to be two parallel economies, because the left will simply refuse to do business with the right.
Granted, the Bigots have a few billionaires and some millionaires…. but they don’t have a majority of Americans.
If a bank wants the money of a large number of open-minded clients, perhaps their new advertising slogan can be “RKBA Bank – We Don’t Hate Your Civil Rights”.
Twenty some years ago a guy who I considered to be crazy told me that a time was coming when the entire country would be split along party lines. We would have to identify as Democrat or Republican and would only be able to do business with one side or the other. It would be a cold civil war with economics being the front line.
He may have been crazy, or he may have been prophetic. He also claimed to be an alien so maybe a bit of both.
You knew H. Ross Perot?
I don’t think bankers have suddenly become a bunch of gun-hating loons, I think it’s worse than that; they are following what they see as the trends of the country, an that’s bad news for us, because it likely means that gun owners are seen more and more to be shrill, hateful harpies like Dana Loesch and not reasonable humans who care about freedom, self defense and fun.
I predicted this sort of thing to family and friends several months ago — and on this forum within the last few weeks.
You cannot conduct business in today’s world if there are no banks that will provide banking services to your business. Private enterprises and soon state governments and fedzilla will exploit this situation to their gain, and our loss (of everything).
What we should all do as pro-2A individual and families is move out of anti-2A states (MA, RI, CT, NY, NJ, CA, OR, WA, VT, IL, etc). We have a choice when it comes to where we live and how we spend our money as pro-2A individuals and families. We hurt the states and companies were it counts by taking our tax revenue and purchasing power to pro-2A states. Do not buy or use stores, air lines, credit card companies, and banks that are anti-2A. Support pro-2A stores, air lines, credit card companies, and banks only. We change the population of states that are anti-2A by moving to pro-2A states. Anti-2A states will loose representation in the House of Representatives in Congress and loose their power of influence. The anti-2A groups and individuals have cast the first volley in this new economic warfare against us as pro-2A supporters. Do not forget what the ex-supreme court justice John Paul Stevens recently wrote Repeal the Second Amendment last week in the New York Times, which is the second volley. How many more of these before we get the message of total disarmament is the goal of these anti-2A groups. I guess when enough of us pro-2A stop doing business with the anti-2A businesses they might think twice.
Some of us already did that.
But we might go back and get our real estate back, from those Fing up America.
Who needs a bank to buy stuff? I just bought a nice brandy new reloading press. Called them up in Scottsdale Arizona and the salesman was happy to accept my USPS money order as payment.
I wish! I cant wait to get orders out of CA! Perferably ID or AZ….
Are banks any different from bakeries?
Who the heck do they think they are, anyway? Uber?
Credit, oh hell yeah, with credit comes control. Eyes wide shut, it’s always been the banks who run the show.
We will be retiring soon and as part of the restructuring of our lives, we have discussed transferring our money out of Wells Fargo, which we are in only because of historical mergers, not out of love for the bank. Articles like this pretty well seal the deal. It will most likely go to a locally housed but regional bank that did not take or need TARP money.
Support your local bank/ credit union. Just like it’s better to support your local gun store.
CarlosT has it right – Two parallel economies are on on the way.
OK then – The political Right has a number of billionaires in their ranks, it’s time for a bank that declares its allegiance to the 2A in its founding charter.
Primarily servicing the business side of firearm manufacturing, distribution, and retail sale. They can run a consumer credit side, as well.
How do we do it? I would invest in shares of it…
export violations, not guns, may be the problem here.
I doubt that. TNVC has very strict export controls and is fully ITAR compliant.
Firearms companies should respond by not selling to any entity that has this policy in place. Wells Fargo uses armed guards, well how about they stop arming them?
Fight back or lose your rights, it’s that simple.
What is funny is that Wells Fargo is advertised on or has some sort of agreement with the Second Amendment Foundation. You can find the Wells Fargo/SAF page here: https://saf.perksconnection.com/discounts/national-detail/WellsFargoHomeMortgage?partnerid=172
Also, 2ndVote.com has a list of companies and scores them based on their political dealings. They have a category of “Financial Services”. https://www.2ndvote.com/company-scores/
Banks should be held to the same standards as common carriers, and be forbidden from discriminating against finances.