Chicago Mayor Rahm Emanuel (D) wants to use city contracts to punish banks that will not restrict and/or regulate clients involved in the firearms industry.
Emanuel’s ordinance is co-sponsored by Alderman Edward Burke (14th).
The Chicago Sun-Times reported that Emanuel introduced the ordinance by saying, “When it comes to fighting for stronger, smarter gun laws Chicago is putting our money where our mouth is. The private sector has a role to play in supporting public safety. Chicago should give our business to companies who share our values and want to be part of the solution to gun violence, not profit from it.”
The ordinance would require financial institutions to file affidavits “verifying that their customers ban the sale of bump stocks and high-capacity magazines.” Moreover, banks would have to assure the city of Chicago that their customers in the firearms industry “ban the sale of firearms to customers under the age of 21 and those who fail to pass background checks.”
The Chicago Tribune reports that Emanuel’s proposed requirements mirror those put forth by Citibank on March 22.
We will require new retail sector clients or partners to adhere to these best practices: (1) they don’t sell firearms to someone who hasn’t passed a background check, (2) they restrict the sale of firearms for individuals under 21 years of age, and (3) they don’t sell bump stocks or high-capacity magazines. This policy will apply across the firm, including to small business, commercial and institutional clients, as well as credit card partners, whether co-brand or private label. It doesn’t impact the ability of consumers to use their Citi cards at merchants of their choice.
A final vote on Emanuel’s ordinance has been delayed due to pushback from the banking industry.
AWR Hawkins is an award-winning Second Amendment columnist for Breitbart News, the host of the Breitbart podcast Bullets with AWR Hawkins, and the writer/curator of Down Range with AWR Hawkins, a weekly newsletter focused on all things Second Amendment, also for Breitbart News. He is the political analyst for Armed American Radio. Follow him on Twitter: @AWRHawkins. Reach him directly at email@example.com. Sign up to get Down Range at breitbart.com/downrange.