NC Gun Dealer Wins Duel with Bank That Used Fed Regs to Drop Him

NC Gun Dealer Wins Duel with Bank That Used Fed Regs to Drop Him

NC Gun Dealer Wins Duel with Bank That Used Fed Regs to Drop Him

A North Carolina gun seller won a duel with his local bank, after the lender denied his web-based business its services, erroneously citing a controversial banking regulation, he told FoxNews.com Thursday.

For months, Luke Lichterman had tried to get his Hometrust Bank branch to process purchases, but officials told him a 2013 Department of Justice regulation dubbed “Operation Choke Point” barred them from serving a “risky” business, he said.

"When I asked the bank representative what other businesses are considered 'risky,' the first word out of his mouth was 'pornography,’” Lichterman, who is 75 and disabled from a serious car accident, told FoxNews.com. “I was both deeply offended and highly amused by that.”

Lichterman’s online store, http://www.huntinganddefense.com, takes digital payments, but without his bank’s help he would have been forced to used costly transaction services that would have taken a huge bite out of his already-thin profit margins, he said.

 

Read full story: http://www.foxnews.com/us/2016/06/10/nc-gun-dealer-wins-duel-with-bank-t...