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3 Bumps

Bank of America freezes bank account owned by a firearm company....

This happen a few months ago, but I could not believe the reason they did was ""”We Believe you should not be selling guns and parts on the internet.”" WTF?!? Here is the story..

Bank of America allegedly froze the account of gun manufacturer American Spirit Arms, saying the company “should not be selling guns on the Internet,” the company’s owner, Joe Sirochman, alleges.

“My name is Joe Sirochman owner of American Spirit Arms…our Web site orders have jumped 500% causing our Web site e-commerce processing larger deposits to Bank of America. So they decided to hold the deposits for further review,” Sirochman wrote on American Spirit Arms’ official Facebook page on Dec. 29, 2012.

“…as you could imagine this made me furious…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,” the post read. “Her exact words were…”We Believe you should not be selling guns and parts on the internet.”

After initially flipping the “f**k out,” Sirochman said he told Bank of America they have no right to make up their own rules and regulations regarding the online sales of firearms.

“[W]e are a firearms Manufacturer with all the proper licensing FFL (Federal Firearm license ), SOT and that we follow all Federal and All States’ rules and regulations on shipping Firearms and parts ..and that we are also Audited by ATF and Homeland ‚Ä®Security on a regular basis,” he wrote.

So far, Sirochman says just one-third of the companies Internet sales over a two week period have been released to the company. Needless to say, American Spirit Arms is looking for a new bank.

As CNSNews.com points out, “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,” the report adds.

WTF?? I cannot believe the banks can get away with that! Whats next? They find out a woman had an abortion and they close her account or freeze until "further reviews"?? Why should any bank care how its customers receive money?? Or spend their money? 

This damn shit piss me off. I hate BOA anyway about the shit they were doing to me and my husband and a few thousand other people as well. Too bad our govt just just didn't shut them down.

Answer Question
 
Michigan-Mom74

Asked by Michigan-Mom74 at 1:25 AM on Mar. 19, 2013 in Politics & Current Events

Level 34 (66,351 Credits)
Answers (8)
  • Bank of America tends to make up its own rules as it goes along. They acquired my ex husband's mortgage and he ended up losing his house, which was inevitable I guess, but his representative there didn't give a rat's ass that he might have ended up on the streets, with a rare form of Lou Gehrig's disease, unable to care for himself. The asshole actually told my ex on the phone that he could park his wheelchair accessible van by a creek somewhere because then at least he would have water. I hate Bank of America with a red hot flaming passion.
    Ballad

    Answer by Ballad at 1:48 AM on Mar. 19, 2013

  • " They acquired my ex husband's mortgage and he ended up losing his house, ..."Ballad
    Yup, they did that with us also. But we got lucky was able to live in another home. Although the circumstances were unfortunate in the way we were able to get the house we live in now.
    Michigan-Mom74

    Comment by Michigan-Mom74 (original poster) at 1:52 AM on Mar. 19, 2013

  • I don't know why anyone would bank with a bank that took a bailout, and yet seems to have more and more and more assets every day.  


    Isn't it still legal to sell guns on the internet?  When it becomes illegal to do so, at that point BoA can hold the funds.  Until then, they need to keep their nose out of their clients business!

    29again

    Answer by 29again at 1:54 AM on Mar. 19, 2013

  • 29again... Yes its legal to sell guns on the internet. When someone buys a gun off the internet, it will be shipped to a designated FFL dealer, like a gun store such as Gander Mountain. They will conduct a background check through the National Instant Criminal Background Check System or NICS and / or any other state, local mandated background checks prior to transferring the firearm to that person. You can NEVER ship a gun to your home.
    Michigan-Mom74

    Comment by Michigan-Mom74 (original poster) at 2:16 AM on Mar. 19, 2013

  • I don't think this should be up to the bank to decide. Bank of American does scar me, even before this.

    RyansMom001

    Answer by RyansMom001 at 6:45 AM on Mar. 19, 2013

  • BoA should be shut down for all the borderline illegal and unethical things those assholes do on a daily basis. NEVER use that bank. They make up their own rules, even if they aren't totally legit rules. It is BS.
    kmath

    Answer by kmath at 9:38 AM on Mar. 19, 2013

  • I would think this goes against banking regulations. Wouldn't the business be able to report them to the FDIC for this? It seems BOA's rules for this company are too arbitrary.

    I hate BOA as well. I banked with them for about 2 months. I had an account there and tried to cash a paycheck (my boss's bank was a local one, just took about 10 minutes to get there) and they said they had to hold the check for two weeks before they could release my funds. I withdrew everything I had in there that day and found a new bank. Not to mention they wanted to charge you just to talk to a teller.
    QuinnMae

    Answer by QuinnMae at 10:30 AM on Mar. 19, 2013

  • How is this bank still doing business?! They should be kissing our asses for bailing their asses out with OUR tax dollars! We had a bad experience with them a few years back & will never do business with them again. PNC is another bank that can kiss it where the sun don't shine. We use a local credit union for our banking needs. If it wasn't for our mortgage, we wouldn't deal with a big bank at all. They need to be fined or penalized in some way for doing this kind of crap!

    mrsmom110

    Answer by mrsmom110 at 2:22 PM on Mar. 19, 2013

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