HB 413 Would Protect Industry Businesses from Financial Discrimination.

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NSSF - The Firearms Industry Trade Association  

Louisiana House Overwhelmingly Approves Firearms Industry Protection Legislation

HB 413 Would Protect Industry Businesses from Financial Discrimination

The Louisiana House of Representatives passed House Bill 413 with bipartisan support yesterday by a vote of 66 to 28. Sponsored by Louisiana state Rep. Blake Miguez and strongly backed by NSSF, HB 413 would protect businesses in the firearms industry from blatant discrimination by those in the financial sector by prohibiting financial service providers from refusing service, or discontinuing service, to those in the firearms industry solely because they are involved in the lawful commerce of firearms or ammunition products. HB 413 will now go to the Louisiana Senate for committee referral and consideration.
Specifically, the language HB 413 states:
“…A bank, credit union, financial institution, payment processor, savings and loan association, or trust company shall not refuse to provide financial services of any kind to, refrain from continuing to provide existing financial services to, terminate existing financial services with, or otherwise discriminate in the provision of financial services against a person or trade association solely because a person or trade association is engaged in the lawful commerce, purchase, sale, or manufacture of firearms or ammunition products … or the servicing of, renting of, provision of training relative to, or provision of a facility designed for qualifications, training, or practice relative to firearms or ammunition products, or is a trade association...”
While the firearms industry respects the right of financial institutions and other service providers to make business decisions based on objective criteria, it is unacceptable to discriminate against businesses simply because they are engaged in the lawful commerce of firearms, a heavily-regulated activity protected by the Second Amendment. NSSF commends Rep. Miguez for bringing this important legislation forward, as well as those in the Louisiana House who voted in favor of HB 413.
NSSF will keep you updated as HB 413 receives a committee referral and hearing in the Louisiana Senate.

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