The Daily Caller reports, "Paul is seeking to amend the Commerce, Justice, Science, and Related Agencies Appropriations Act for the 2015 budget to prevent any funds given to the Federal Deposit Insurance Corporation (FDIC) or Department of Justice (DOJ) from targeting gun and ammunition companies."
Specifically, Paul’s amendment would prohibit:
(1) any action by the Federal Deposit Insurance Corporation to classify the sale or manufacture of a firearm or ammunition as an activity involving risk; or
(2) any action by the Department of Justice to discourage the provision or continuation of credit or the processing of payments by any financial institution to a manufacturer, dealer, or importer of firearms or ammunition, based on the fact that the business is a manufacturer, dealer, or importer of firearms or ammunition.
A source inside Paul’s office told The Daily Caller that the freshman senator’s amendment was aimed at protecting firearms and ammunition manufacturers and dealers from the Justice Department’s Operation Choke Point.
The blog Ammoland provides a quick synopsis of Choke Point:
The Federal Deposit Insurance Corporation (FDIC), at the behest of Barack Obama, has declared that gun stores are “high risk” businesses. “High risk” businesses have been, up until now, a small category of supposedly disreputable businesses, which have included pornographers, sellers of drug paraphernalia, and payday lenders.
The second step in the process is Eric Holder’s Justice Department’s “Operation Choke Point.” And its function is specifically to choke off any credit or credit card processing for businesses (now including gun dealers) who fall in the “high risk” category.
Already, scores of gun dealers have complained that their banks have cut their credit or otherwise put pressure on them.
The Daily Caller adds additional insight into the president’s sneak attack on the right to keep and bear arms.
Officials at the FDIC have stated that Operation Choke Point is a DOJ program, though a House committee recently revealed documents that indicated that the FDIC has helped DOJ with the initiative.
FDIC has labeled around 30 industries, including gun and ammunition dealers, as “high-risk.” Coin dealing, payday lending, and adult entertainment are also considered “high-risk.”
Fearing “reputational risk,” some banks have reportedly cut off ties with companies in such industries.
At best, according to its critics, Operation Choke Point has the unintended consequence of causing banks to stop doing business with the “high-risk” companies. At worst, the critics maintain, the initiative is designed to harm companies in industries that the Obama administration has deemed objectionable.
Operation Choke Point is not President Obama’s first or only surreptitious assault on the God-given rights protected by the Second Amendment.
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Photo of Sen. Rand Paul: AP Images