Quote from: Solar on January 07, 2013, 04:17:41 PM
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."

http://cnsnews.com/blog/gregory-gwyn-williams-jr/bank-america-freezes-gun-manufacturers-account-company-owner-claims

I have to say, I'm not surprised. They don't seem to be an honest operation.

A few years ago, I had some dealings with them. What it was about I've forgotten, but I do remember that the reason they gave for not being able to comply with my request was "It is against Federal Regulations."

I'm not the person you want to say that to, unless you are sure it was true.

"Show me the regulation - in black and white." I said calmly.

Well, the teller hemmed and hawed and went to his supervisor, and they hemmed and hawed together for a while and eventually produced a 3 ring binder  - their S.O.P.

They showed me a page that said what they claimed only it wasn't a "Federal Law" it was just their bank branch's policy.

"So, its not a Federal Regulation", I said, "it is just your bank's S.O.P."

The supervisor conceded I was correct.   

I said, "Okay, then", and started to leave. On my way out the door I said, "You know there is a Federal Regulation against saying something is a Federal Regulation when it really isn't, don't you?"