Knife Rights applauds President Trump’s Executive Order Guaranteeing Fair Banking for All Americans. For many years banks have discriminated against knifemakers and manufacturers. This executive order may go a long way towards preventing future de-banking efforts against our community. I urge you to read the whole EO to understand its full scope.

The EO mentions Operation Choke Point “by which Federal regulators pushed banks to minimize their involvement with individuals and companies engaged in lawful activities and industries disfavored by regulators based on factors other than individualized, objective, risk-based standards.” A number of knife companies were caught up in this operation. 

Too many knifemakers have found themselves de-banked or their access to services such as credit card processing cancelled for no other reason than the bank, or some woke individual at the bank, deemed their business as disfavored because they viewed them as “evil” weapons instead of common tools. Even as weapons they are legal and protected by the Second Amendment.

The EO prohibits “…an act by a bank, savings association, credit union, or other financial services provider to directly or indirectly adversely restrict access to, or adversely modify the conditions of, accounts, loans, or other banking products or financial services of any customer or potential customer on the basis of the customer’s or potential customer’s political or religious beliefs, or on the basis of the customer’s or potential customer’s lawful business activities that the financial service provider disagrees with or disfavors for political reasons.”

How this EO affects these issues in the real world going forward remains to be seen. For example, will PayPal cease its discrimination against knifemakers? Only time will tell, but being able to cite the EO in a dispute with PayPal or in a letter from an attorney to a bank or in a lawsuit should be useful.

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