Bank of America Freezes Gun Manufacturers Account: Tells them you shouldn’t be Selling Guns!

Anti-Gun Bank of America Strikes Again!

Bank of AmericaAccording to a Facebook post by the owner of American Spirit Firearms, Bank of America has decided to weigh in on the gun debate by freezing his account. Joe Sirochman, Owner of American Spirit Firearms, says Bank of America froze his account after people at the bank decided he shouldn’t be allowed to sell guns on the internet.

This isn’t the first time Bank of America has targeted one of its customers for being involved in the Firearms industry. In fact, earlier this year McMillan Group International, who had been banking with Bank of America for 12 years, was told that their business was no longer welcome after they started manufacturing firearms. Operations director Kelly McMillan also used Facebook to warn its customers what was happening.

Sirochman, who has all the proper federal licensing, says he was told by Bank of America Management that the reason his deposits were being “held for review” was because Bank of America felt he “SHOULD NOT BE SELLING GUNS and PARTS ON THE INTERNET”

Sirochman claims that his two-thirds of his deposits have been held for over two weeks, making it impossible for his small business to operate effectively. His full Facebook post can be read here.

36 Comments on Bank of America Freezes Gun Manufacturers Account: Tells them you shouldn’t be Selling Guns!

    • It’s not illegal to sell guns or parts over the internet, so long as the gun is transferred through an FFL holder, and all required background checks and paperwork is filled out…

    • we just closed our accounts and credit cards backed by BofA .that is the only language they understand.

      • I would like to know exactly who within the bank froze his accounts. This kind of sounds like a low lever manager with their own beliefs put the freeze on the account. Would be interesting to find out for sure.

  1. That is atrocious….Bank Of American has no right to freeze a customers account just because they manufacture guns…..who are they to judge?????

  2. It is not up to Bank of America to regulate commerce. If I were this account holder I would be sitting in my attorney office right now and would sue the beejeezuz out of them and file any possible charges I could file. This is just a foreshadowing of things to come and good illustration of why I WILL NOT put any of my money in a bank.

    • in a free market system a business has the right to do business with anyone they choose. you seem to be advocating a system where businesses are forced by the government to do things… that’s a command economy and one of the main tenets of true socialism.

      • The premise that B of A has the right to do business with who they wish is true. If they truly feel that they wish to not do business with businesses that produce-sell firearms or those that own them, they should make a public announcement to that effect and allow current customers time to move their money and business somewhere else. They do not however have the right to withhold access to someone else’s money due to a political viewpoint. To argue otherwise is ridiculous.

    • Couldn’t be the reason the person went straight to the internet instead of the attorney’s office as you suggest….is there is more to the story than this?? Much more exciting to hear one side of it. If things are going so good as stated in the article, this person should be able to walk into any other bank around and get financing. They would love to have a legitimate business loan. My guess is there are reasons why that has not happened. Banks like money too much. They are addicted to it like a drug addict…no way they would pass up the opportunity!

    • More Obama control through intimidation and extortion. Obama is getting out of control and Congress is allowing this to happen.

  3. I hope for painful rectal pustules for all of those aholes involved. The people that have been touting stories of black helicopters don’t seem as nuts any more.

  4. I am cutting up my Bank of America card and sending it back to BoA, along with a copy of this article.

    Perhaps 1,000,000 customers should do the same!

  5. Once again, BofA has lied to a long time customer. When the Kenyan was re-elected and the anti-gun movement reawakened, sales of firearms and ammunition along with related clips/magazines took off to record setting levels. A huge portion of these sales have been transacted via the internet and in American Spirit’s case, their corresponding sales revenues being deposited through BofA’s processing have similarly outpaced past levels. Under the Bank Secrecy Act / Anti Money Laundering legislation being enforced by provisions of the PATRIOT Act, banks are required to investigate any customer whose banking transactions and activity change “materially” from established patterns. Every transaction in every bank in the country everyday is reviewed by highly secretive software to detect any changes in a customer’s banking activities. If there are “material” changes and the customer cannot satisfy the bank as to the legitimacy of the changes, the bank will file a Suspicious Activity Report (SAR) with FINCEN reporting the customer to the government…all in the name of allegedly identifying customers who may be laundering money and/or supporting terrorism. If two SAR’s are filed against a customer, the bank has to close the customer’s accounts and is prohibited by law from telling the customer why. In American Spirit’s case, when their banking activities changed recently, BofA did not expend the effort necessary to determine the legitimate reason for the increased deposits, etc. Instead, BofA froze availability to American Spirit’s deposits cutting off their cash flow while the bank was trying to decide what to do. This is an outrageous abuse which is supported by current banking law. Rather than doing the right thing, BofA punished one of their customers because of the bank’s left leaning management team and board who are bent on pleasing the regulators and avoiding any further fines or sanctions. BofA is doing everything they can…and at the expense of their customers…to curry favor with the regulators and avoid being exposed for the money grubbing, customer screwing bankers that they really are. American Spirit should very carefully investigate any bank to whom they plan on moving their business. All of the major banks who have had difficulties with the regulators will have the same frame of mind as BofA. The banking public would be horrified if they knew the extent to which all banks are spying on their customers and reporting them to the Treasury Department and other federal agencies who have no business knowing anything about their personal business. Banking customers beware!!

  6. Please remember that B of A :
    –received 100s of Billions of bailout aid from the TARP

    –has paid Billions in penalties for breaking the law in their mortgage practices

    –no executives have been criminally prosecuted for the biggest mortgage fraud in history (despite the evidence of this presented on national TV–60 Minutes)

    this is a criminal organization facilitated by criminal behavior inside the government.

    • DON’t READ THIS!! Let us take note also, that our Federal and states’ Attorneys General sued these abusive banks, and that they won! They won and the judgment was issued against mega-banks who were required to pay Billions for their abuses of homeowners, for thouands and tens of thousands of frauds were committed in foreclosures on homes all across this nation against homeowners whose homes were seized and sold out from under them. Our U.S. Constitution, the Fourth Amendment, guarantees that no citizen shall be deprived of their property, without due process of law. Yet cases have been cited in which the homes seized were not delinquent on their mortgages or even where was no mortgage on the homes, at all, but the bank sued and foreclosed anyway. Many judges in states all across this land would willingly issue judgements against the homeowners without deeply questioning the Banks’ allegations, despite serious issues being raised in open court. Now our stalwart Attorneys General have won Billion$$ by suing the Banks for their frauds, and have any of the banks’ managers who ordered the fraudulent foreclosures been jailed for fraud?
      Take note – – the Attorneys General, both Federal and states’, took care to structure their arguments to the Federal Court and to accept the defendants’ proposals, such that no Managers should be held personally responsible for their actions, and the penalties in the Billion$$ against the mega-Banks should not restore the bulk of the peoples’ losses, and the homeowners who were wrongly evicted from their homes, even those who had no delinquent mortgage, should not have their homes restored to them. No, the Federal and States’ Governments divvied up the bulk of the proceeds amongst themselves, and granted immunity against prosecution to the Banks and their Managers, and the Federal Court decreed that the Banks shall be immune from further civil suits for recovery of homes and damages. So, it’s a WIN-WIN! for the Govt and the Banks; and for the injured homeowners, vindication and, well… (that’s a deep subject). The Attorneys General and the Federal Court trumped the U.S. Constitution – i.e, the prosecutors and the Judge furnished the mega-Banks the due process of law that deprived the citizens of their property…

  7. I have had an intense dislike for B of A since I was in the Army. I had a savings account with them when I went in, 3 years later when I got out, I went to close the account. I had no money left because “It costs money to keep an account open”. This was in 1985. So, first they take my money, then buy out the mortgage company I had for my house, so they took the house, too. Now they are doing this? As far as I am concerned, B of A has ruined many lives, and are now trying to ruin what little rights we have left. Fortunately, I still have my freedom of speech left, for now.

  8. Obama and all these executive orders. He is not a dictatore. This is the United States. What is wrong in the congress and the house letting him get away with this.

  9. I told B of A when they did the same thing to an AZ manufacturer that I would cancel. Tonite, hearing this I canceled a 29 year old account. I will work to transfer billing from a 20 year account and cancel, ASAP.
    B of A, two play this game, I hope more customers do the same and may you rot in ____. Molōn labe!

  10. Yesterday, Jan.7, I faxed Mr. Sirochman (American Spirit Arms) and invited him to transfer his business to Arvest Bank, headquartered in the much more gun friendly Ozarks. Incidently, Arvest just bought 29 BoA branches in Arkansas, Kansas, Missouri and Oklahoma. I think BoA is in more financial trouble than is let on.

  11. “U.S.Bank” told me I could not open a business account with them if my “business” was selling firearms. So it seems BofA has company.

  12. Closed… I have had accounts for eighteen years. I closed both my personal and am transferring my joint business account to a local smaller bank. I am a supporter of the second amendment. The sad part is I am a liberal, but this is too much. They have overstepped their authority once again. If I had to choose between being a Democrat and a firearms owner, that is a no-brainer. I would remain armed and vote straight libertarian or republican. I will be quite frank, I have NEVER been so ashamed of my party or its supporters as I am right now. It seems like a modern day witch-hunt against gun owners. I was a Democrat long before the anti-gun policy reared it’s head. These companies need to remember that 41-47% of Democrats own firearms, more than 50% of Republicans do also, watch out burning bridges, you might be stuck on an island with no way off.

  13. Didn’t they get bailed out with our tax dollars? Ungrateful companies backed by our president who also is anti gun. What’s this nation coming to.

  14. Coming from a bank that needed to be bailed out on taxpayers dollars,you think they wouldnt be so stupid. Screw them,I hope this puts them out of business for good

  15. I have a home mortgage with BOA. I called them to discuss getting a lower interest rate. I have two loans one is at 12% and the second @ 8%. They told me if I get 2 payments behind, the Obama plan would kick in and I could get a modification. So I did as they suggested and it snowballed after a few months of talking 3-4 times a day on the phone with someone with a foreign accent. They tried to foreclose, but fortunately, with God’s help I was able to make double payments and got caught up. BOA is corrupt, disorganized and the right hand does not know what the left is doing. I wish I had any other mortgage company but them. I would not wish them on my worse enemy if I had any.

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