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Bank of America Freezes Gun Mfgs. Account

Discussion in 'Off Topic Threads' started by concordefamily, Jan 7, 2013.

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  1. concordefamily

    concordefamily Member

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    Obviously it is your own choice where you bank, BUT if you use Bank of America here is something to keep in mind:
    Bank of America has reportedly frozen the account of gun manufacturer American Spirit Arms, according to its owner, Joe Sirochman.

    In a Facebook post dated December 29, Sirochman wrote the following:

    “My name is Joe Sirochman owner of American Spirit Arms...our Web site orders have jumped 500 percent causing our Web site e-commerce processing larger deposits to Bank of America. So they decided to hold the deposits for further review.

    “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 -- her exact words were -- ‘We believe you should not be selling guns and parts on the Internet.’”(emphasis added)

    Sirochman also wrote that he told the bank manager that “they have no right to make up their own new rules and regs” and that “[American Spirit is a] firearms manufacturer with all the proper licensing.”

    He also noted that he has been doing business with Bank of America for over 10 years, but will now be looking for a new bank.

    According to Unlawful News, 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.
     
  2. cubancigar2000

    cubancigar2000 Well-Known Member

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    Bank Of America sucks
     
  3. goose2

    goose2 Well-Known Member

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    never used them never will.
     
  4. lots of 24's

    lots of 24's Member

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    If you want to read an interesting article about the true character of the Bank of America, read the Rolling Stone Magazine article on their dealings with respect to the mortgage crisis. I think it was called "too big to fail" or something like that.

    If half of what this article says is true, these guys are the biggest crooks in this country. They dont follow the law, they dont even follow their own rules. The screwed so many americans out of their homes, their money, their lives........I immediately cancelled my credit card with them after reading that article. They are scum bags of the first degree. I dont want anything to do with people like them.
     
  5. trim tab

    trim tab Active Member

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    This article is older than time
     
  6. GW22

    GW22 Active Member

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    They just agreed to a huge settlement over other poor business decisions. Click the link.

    -Gary
     
  7. concordefamily

    concordefamily Member

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    Well this article may "be older than time" and "first posted here in 2008(?!)" but I and alot of other people may not have read it or seen it. Even if they had it is good to be reminded of BOA's actions.
     
  8. TinMan88

    TinMan88 TS Member

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    Lots of 24s, Good on you for reading Matt Taibbi's articles. I don't think you would find much to defend about the banking insiders after reading that eye opener. Good on ya!
     
  9. b12

    b12 Well-Known Member

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    The term ( to big to fail ) should have been ( TO LARGE TO BE IN BUSINESS ) /BILL
     
  10. whiz white

    whiz white Strong Supporter of Trapshooting Banned

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    I appreciated the post, even if it was old news. Like the above poster, I don't read every single post.

    Good thing my bank, a AAA rated base is owned by the Scott family, and the #1 Scott is a shooter, a past trapshooter, and the past CEO and I hunted birds together. They love my business.

    Whiz<BR>
    South Dakota - one of the friendliest gun rights states in the USA
     
  11. skeet_man

    skeet_man Well-Known Member

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    This is not "a recycled story first posted here in 2009", nor is it "older than time".

    This was first posted on American Spirt Firearms facebook page a little over the week ago, and recent articles are all over the internet now. BoA froze their account 12/18/12.
     
  12. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Link to the Facebook post made by the owner of American Spirit Arms about their Bank of America ordeal.

    American Spirit Arms · 2,765 like this<br>
    December 29, 2012 at 8:52am ·<br>

    All,<br>
    My name is Joe Sirochman owner of American Spirit Arms and I wanted to share my recent experience with Bank of America .(which we have been doing business with for over 10 years)…. Everyone is familiar with the latest increase in guns sales , dealers selling out of inventory , Manufacturers back logged for months , large revenue all generated in the last two weeks …. American Spirit Arms is no exception to the overwhelming demand . What we have experienced is that our web site orders have jumped 500 % causing our web site E commerce processing larger Deposits to BANK OF AMERICA ..Well, this through up a huge RED Flag with Bank of America . So they decided to hold the deposits for further review , meaning that the orders/payments that were coming in through the web ,( being paid by the customer and that were shipped out by American Spirit Arms ),the BANK was keeping (UNDER REVIEW )..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 …HER EXACT WORDS WERE …
    ..” WE BELIEVE YOU SHOULD NOT BE SELLING GUNS and PARTS ON THE INTERNET “
    …I flipped the F**k Out and told them that they have no right to make up their own new rules and regs..that we 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
    Security on a regular basis … She said that she understands that but that the deposits will be released After they have a
    Chance to review and clear them …I told her that This was unacceptable and the those deposits (that were a week old by now ) needed to be released ASAP, that we are a small business and rely on the revenue to run and stay operational.<br>
    After that being said another Manager got involved and released one of the deposits (to help out )… <br>
    So far to date after
    Two weeks of sales only 1/3 of collected internet sales have been released ..I am still pissed and looking for another
    Bank and options …<br>
    I just thought the public should know ..

    I will keep everyone posted on new developments ..

    Sincerely

    Joseph P Sirochman<br>
    American Spirit Arms<br>
    16001 N Greenway Hayden Loop<br>
    Suite B<br>
    Scottsdale AZ 85260<br>
    480-367-9540 phone<br>
    480-367-9541 fax<br>
     
  13. JH

    JH Well-Known Member

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    Of course, a "good corporate citizen" will join in changing the "gun culture" by marginalizing, dis-empowering, stigmatizing and censuring anyone connected with private gun ownership....

    You see folks, this is the same "changing the culture" technique they use to promote THEIR value system.....they look for sympathetic spokesmen, businesses, Hollywood celebrities, the printed media, television shows, movies, etc. they all form a coalition to promote their assault on traditional values and replace them with theirs: pro-drugs, pro-victimhood, pro-entitlement, pro-dependence, pro-abortion, anti-traditional marriage, etc.

    We are in the MIDST of a CULTURE WAR....and changing the "gun culture" is currently at the top of the list (while they can capitalize on the emotional upheaval resulting from the mass murders in Conn.)........Join the NRA! It is the most effective way to counteract their REPLACEMENT VALUES.....
     
  14. Brian in Oregon

    Brian in Oregon Well-Known Member

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  15. CharlieAMA

    CharlieAMA TS Supporters TS Supporters

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    They ought to change their name to the Bank of Socialist States of Amerika.
     
  16. W.P.T.

    W.P.T. TS Member

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    This is about the third time this has been posted here, last time was a few months ago ... Old news and yet they still have their account at that bank ... I called them on the phone a few months ago was told it was a mistake and everything was fine ... They didn't really want to say much so I figured it was BS ... I have more than one account at Bank of America and I ain't giving up all of the perks I get on hear say ... I have even more money in Wells Fargo, have never had a problem with either one of the banks ... I write checks for guns, shells and shooting fees and have never been questioned about who or what I write a check for ... I have an account just for buying guns with a Sporting Arms business name on it and they always smile when I walk in the door ... No Problem ... WPT ... (YAC) ...
     
  17. glock22

    glock22 TS Member

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    Had bad experience with BOA in 90`s, don`t want anything to do with that
    crooked ass bunch!!!
     
  18. jharryfrey@att.net

    jharryfrey@att.net Member

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    NO MATTER BUT I WANTED TO BRING UO THAT MY CREDIT CARD FROM BASS PRO IS FROM BANK OF AMERICA.HARRY
     
  19. skydiver41

    skydiver41 Member

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    Anyone remember what Eddie Murphy's character (Mr. Valentine)in Trading Places said to Dan Akroy's character (Louis Winthorp III)?

    "Seems to me the best way to screw over rich people is to make them into poor people". Coleman the butler quickly reminded Mr Winthorp "You've got to admit, sir...you didn't like it much yourself".

    Here's my idea...let's all go out and procure credit cards from Bank of America. Then we max them out, hopefully on firearms related products...then refuse to pay our bills. Yes, I know it sounds a bit childish but if you don't mind your credit rating getting dinged a bit it makes for great payback.

    "Revenge is a dish best served cold".

    I'm all ears to any better ideas.

    Mike
     
  20. Jerbear

    Jerbear TS Member

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    The owner was interviewed by Megyn Kelly this afternoon. They withheld his deposits for 3 WEEKS. They told him they were routinely withholding large deposits for his account's safety. WTF?????


    Jerbear
     
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