had instituted a policy of not lending to gun stores. My wife is an executive at SunTrust so I asked her about this. She said it is government regulations relating to money laundering that has forced them to stop lending to certain businesses like Pawn Shops but it has nothing to do with SunTrust being anti gun or anything.
Banks and Gun Stores.Someone posted a few days ago that SunTrust
- Thread starter 87DunwoodyDawg
- Start date
Nothing to do with gun shops. Pawn shops, payday lenders etc
and they are forced to do it by gov't regs. Not their policy other than the gov't has made it impossible to effectively loan to those businesses so like any company they have to make a business decision that it isn't worth it to them to loan to those businesses.
and they are forced to do it by gov't regs. Not their policy other than the gov't has made it impossible to effectively loan to those businesses so like any company they have to make a business decision that it isn't worth it to them to loan to those businesses.
I work for a bank and have never heard that there are...
...regs against loaning to pawn shops or gun stores, but there is the Bank Secrecy Act that requires reports for currency transactions in excess of $10,000, and also Suspicious Activity Reports when a bank suspects a customer may be laundering money.
Certain types of businesses can be exempt from the reports, and some can't.
A bank and can choose whatever types of businesses they wish to exclude from lending money to, if it's a high risk or illegal, but I don't think the BSA prevents a bank from loaning to pawn shops or gun dealers.
...regs against loaning to pawn shops or gun stores, but there is the Bank Secrecy Act that requires reports for currency transactions in excess of $10,000, and also Suspicious Activity Reports when a bank suspects a customer may be laundering money.
Certain types of businesses can be exempt from the reports, and some can't.
A bank and can choose whatever types of businesses they wish to exclude from lending money to, if it's a high risk or illegal, but I don't think the BSA prevents a bank from loaning to pawn shops or gun dealers.
Right. She said the regs are so onerous that they made a business
decision to not loan to pawn shops but not related to gun shops. However, the gov't is making it so that it is too difficult to loan to those businesses.
decision to not loan to pawn shops but not related to gun shops. However, the gov't is making it so that it is too difficult to loan to those businesses.
Good to know. I had a conversation with a guy from Homeland Security...
about the Muslim infiltration in TN. He said at one time in Nashville there were 127 auto repair shops run by Muslims just in one area up and down Nolensville Rd. He said virtually all Muslim businesses are funneling money back to the Middle East and/or locally to support terrorist activity.
I would imagine they would target any kind of business with a high degree of cash transactions. The payday lenders look to be all run by Mexicans.
about the Muslim infiltration in TN. He said at one time in Nashville there were 127 auto repair shops run by Muslims just in one area up and down Nolensville Rd. He said virtually all Muslim businesses are funneling money back to the Middle East and/or locally to support terrorist activity.
I would imagine they would target any kind of business with a high degree of cash transactions. The payday lenders look to be all run by Mexicans.
I would love to do financing for a gun store. There's nothing in the...
banking regs that prevents private capital from financing a gun store. It would be like printing money.
banking regs that prevents private capital from financing a gun store. It would be like printing money.
Interesting. Just like any government issue, there are usually
good intentions involved but ends up getting out of hand.
good intentions involved but ends up getting out of hand.
Ok I misunderstood. I thought you meant that the regs are getting...
so onerous that even lending to a gun store is a pain in the ass.
so onerous that even lending to a gun store is a pain in the ass.
Kinda like all those black wheel/rim stores and detail shops ...
and the little Mexican crapholes you see all along the road. Sure, they'll sell some rims, wash some cars or cook you a burrito, but I bet 90% of them are laundering/funneling drug money. Hell, the Chi Phi's stole enough liquor from Chase St Package in the 80's to keep the whole fraternity drunk for a few years, and the owner never said a thing. I know that place had to be a front for awhile because half his inventory was being stolen and it went on for years. Chi Phi's famous punch/swill that they were so free in sharing with everybody was all stolen liquor from Chase Street. And robitussin.
This post was edited on 4/10 11:00 AM by _Keef_
and the little Mexican crapholes you see all along the road. Sure, they'll sell some rims, wash some cars or cook you a burrito, but I bet 90% of them are laundering/funneling drug money. Hell, the Chi Phi's stole enough liquor from Chase St Package in the 80's to keep the whole fraternity drunk for a few years, and the owner never said a thing. I know that place had to be a front for awhile because half his inventory was being stolen and it went on for years. Chi Phi's famous punch/swill that they were so free in sharing with everybody was all stolen liquor from Chase Street. And robitussin.
This post was edited on 4/10 11:00 AM by _Keef_
Mrs. MCD and I were driving around town in different areas and I kept...
seeing all these little stores of various types and I said then, "There is NO WAY IN HELL most of these stores actually make any money unless they are a front for money laundering."
The little "Middle Eastern grocery" where she had her run in with the owner is in the same category. No way in hell it turns enough business to keep its doors open. Bastiges are probably distributing heroin to drug dealers.
seeing all these little stores of various types and I said then, "There is NO WAY IN HELL most of these stores actually make any money unless they are a front for money laundering."
The little "Middle Eastern grocery" where she had her run in with the owner is in the same category. No way in hell it turns enough business to keep its doors open. Bastiges are probably distributing heroin to drug dealers.
I like to go off on ...
my conspiracy theories, but that is probably why they are doing it. However, why are we just loading the muzzies into the country? Why do we let them immigrate here? We don't have to let them in. But a lot of things don't make sense to me.
my conspiracy theories, but that is probably why they are doing it. However, why are we just loading the muzzies into the country? Why do we let them immigrate here? We don't have to let them in. But a lot of things don't make sense to me.
It's been going on for 60 years or more, there are deeper conspiracies...
involved that I won't get into here. But you can probably figure it out if you think about it. There has been a dramatic increase of it since 2000 and even more since Obama got into office.
It's partly "because they can" and we don't have the political will to say NO MUSLIMS allowed. The Progs would have a field day with that.
involved that I won't get into here. But you can probably figure it out if you think about it. There has been a dramatic increase of it since 2000 and even more since Obama got into office.
It's partly "because they can" and we don't have the political will to say NO MUSLIMS allowed. The Progs would have a field day with that.
Re: It's been going on for 60 years or more, there are deeper conspiracies...
Are you afraid "they're" watching?
Are you afraid "they're" watching?
Re: It's been going on for 60 years or more, there are deeper conspiracies...
I think the govt is completely infiltrated with Muslim brotherhood, which is all tied in with western intelligence and influencing middle eastern events and all kinds of wild shit that I probably couldn't even dream up because the truth is probably stranger than any fiction that I or any conspiracy theorist could imagine. And maybe entirely necessary, who knows.
I think the govt is completely infiltrated with Muslim brotherhood, which is all tied in with western intelligence and influencing middle eastern events and all kinds of wild shit that I probably couldn't even dream up because the truth is probably stranger than any fiction that I or any conspiracy theorist could imagine. And maybe entirely necessary, who knows.
Re: It's been going on for 60 years or more, there are deeper conspiracies...
Would be kind of fun to know what all was going down. Sort of.
Would be kind of fun to know what all was going down. Sort of.
