By Tanya Metaksa
What’s New—Trump Administration: EO on debanking; Short History of Operation Choke Point; Colorado: U.S. Senator Michael Bennet running for Governor in 2026; Florida: Anti-gun former Rep. David Jolly running for Governor;California: The legislature returns for its final month of the 2025 legislative session with three bills still viable.
Trump Administration
On Aug. 7, President Donald Trump signed an executive order to address debanking, targeting perceived discrimination against conservatives, crypto firms, and others based on political or religious beliefs. The order directs federal banking regulators to remove “reputational risk” from guidance and examination manuals, review past and current debanking practices for violations of laws like the Equal Credit Opportunity Act, and refer cases to the Justice Department for potential fines or legal action.
The New York Times’ subhead of their coverage of this news read: “Mostly right-leaning groups have complained of forced bank account closures. The evidence is spotty.”The evidence is NOT spotty. I remember many firearms companies losing their banking.
The Times correctly states that such regulations began “under President Obama“ and continued into “the Biden administration… against potential customers…who operate gun-related businesses, among other categories.”
The Times even cites examples by Senate Republicans “that banks and payment processors investigated customers who made legal purchases at gun sellers.” However, the Times frames these practices as minimal and not widespread. Many in the firearms industry know better.
Short History of Operation Choke Point
Operation Choke Point was a U.S. Department of Justice (DOJ) initiative launched in 2013 under the Obama administration, aimed at combating fraud by targeting banks’ relationships with businesses deemed high-risk for fraud or money laundering, including firearm dealers, payday lenders, and others. While the program was framed as a means to protect consumers, critics argued it was a regulatory conspiracy to debank legal industries, particularly those disfavored by the administration, such as the firearms industry. The program pressured banks through vague “reputational risk” guidance, leading to widespread account terminations for firearms businesses without evidence of wrongdoing. It was officially terminated in August 2017, but its legacy fueled debates about regulatory overreach and debanking.
The firearms industry was explicitly listed as a “high-risk” category in Federal Deposit Insurance Corporation (FDIC) guidance, alongside activities like Ponzi schemes and drug paraphernalia sales, despite being heavily regulated under federal laws like the Gun Control Act of 1968. This designation led banks to sever ties with firearms dealers, manufacturers, and related businesses, fearing regulatory scrutiny or penalties. For example, a 2014 House Oversight Committee report noted that banks, under pressure from Operation Choke Point, exited entire lines of business, including firearms sales, due to perceived risks. Firearms dealers reported account closures by major banks like Bank of America, Wells Fargo, and Fifth Third Bank, disrupting their ability to process payments, pay employees, or maintain operations. A 2014 article by the Firearms Licensing and Consulting Group highlighted that even small, compliant firearms businesses faced denials of banking services, with no clear evidence justifying their “high-risk” label.
Politics
Anti-gun politicians DO NOT CHANGE their positions; they modify and obfuscate
The 2026 elections are gearing up. Every U.S. House member is facing an election, 1/3 of the U.S. Senate, many governors, and most legislators.
Colorado: Ian Escalante, who writes emails from RMGO (Rocky Mountain Gun Owners), is already talking about the 2026 Colorado Governor’s race. Current Governor Jared Polis is term-limited, and it appears that current Democrat U.S. Senator Michael Bennet is poised to run. Just recently, Bennet held a town hall with notorious anti-gunners and former Congresswoman Gabby Giffords. Senator Bennet is a co-sponsor of the GOSAFE Act, which would federally ban all semi-automatic weapons with detachable magazines.
Florida: David Jolly for governor in the 2026 election. David Jolly, a former Republican Representative (2014-2017), is running to become the Democratic candidate for Florida governor. As a Republican, he stated, “I do believe the Second Amendment is a fundamental right, but I don’t believe it’s beyond the reach of regulation, and I believe it’s appropriate to look at regulations that ultimately keep the guns out of the hands of criminals.” His current political platform emphasizes comprehensive background checks, assault weapons bans, liability insurance, and licensing.
State Legislatures
The following states are still in SESSION:
California, Massachusetts, Michigan, Ohio, Pennsylvania, and Wisconsin
California: The legislature returns for its final month of the 2025 legislative session with three bills still viable. Hearings have been held on three bills in June, which will be ready for votes when the legislature returns on August 18. In the Senate Public Safety Committee, AB1127 prohibits certain semi-automatic pistols from being sold, and AB1263 criminalizes “knowingly or willfully causing” someone to manufacture a firearm. In the House Public Safety Committee, SB248 mandates that the CA DOJ send a letter to every firearm purchaser to warn them of the dangers of firearms’ ownership.
