by Greg Boulden, America Outloud:
Wex Gunworks has been a staple of the Delray, Florida, community for almost 15 years. The owners have been in the firearm business since 1979 with a stellar record of maintaining regulations and requirements. A few weeks ago, their entire business was threatened when Wells Fargo Bank ended their credit, savings, and checking account lines with no advanced notice. Wells Fargo informed owner Brandon Wexler just a few days before Christmas when he entered his local branch. He was perplexed and was unable to get an answer on what led to their decision. They gave Wexler a month to find a new bank.
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Wells Fargo explained the decision to close his account in a letter to Mr. Wexler. The letter stated that after ongoing reviews, the bank had a responsibility to manage risk in banking operations and was closing his account. After 25 years of banking with Wells Fargo, the bank made an abrupt decision to terminate the relationship. Wells Fargo stated to the media that they based their analysis of the risk associated with the customer, and made a decision to close his accounts. They also indicated their decision was not based on his involvement in the firearms industry.
The statement by Wells Fargo leaves an impression that there is a risk with being associated with Brandon Wexler. After speaking with Brandon and researching his situation, I found no character risk or evidence of an inability to manage his credit lines. For all intents and purposes, he was a model citizen and a firefighter for years, who also ran a highly successful gun shop. So what is Wells Fargo referencing? They refused further comment.
Despite Well Fargo claiming they did not base the decision on his industry, it does not pass further scrutiny. Since the Obama administration implemented Operation Choke point in 2013, banks were told that firearms dealers were a reputational risk. The DOJ and FDIC put in place a list of businesses that were high risk, and banks were immediately canceling accounts. Firearms dealers across the country have been repeatedly targeted by Operation Choke Point, with many businesses having multiple banks close their accounts multiple times.
In November of 2022, the Biden Administration nominated Martin J. Gruenberg as chairman of the FDIC, the same position he held in 2013 under Obama when the scandal began. He was sworn into the position on January 5th, 2023. Operation Choke Point Part 2 looks to be back in action. Compounding the issue is the censorship of the story by Meta, as Wex Gunworks had their pages pulled from Instagram and Facebook after they shared what happened with Wells Fargo. The collusion between technology and banking is concerning.
On America Emboldened, we have been at the forefront of educating listeners about the digital currency push from the Federal Reserve. For those who want their Second Amendment rights, they need to begin to take action now. The Central Bank Digital Currency (CBDC) will seal the government surveillance into every purchase. Controlling the banks and creating conditions over who can be financed is the first step. Listeners should follow @Wexgunworks on Twitter and consider shifting to liberty-minded banks. Old Glory Bank contacted Brandon and offered to take care of his business account and protect 2A rights. Now is the time to secure your cash.
The NSSF National Shooting Sports Foundation is introducing legislation called the FIND act to stop the Operation Choke Point practices. The Firearm Industry Nondiscrimination Act will need your support. You can contact your local and state representatives and ask them to support the second amendment and vote in favor to the FIND act when it is introduced.
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