The Office of the Comptroller of the Currency (OCC) on Thursday finalized a controversial rule banning large banks from rejecting businesses based on their industry.

The move comes less than two months after the agency first proposed the regulations.

The rule makes it illegal for any bank regulated by the OCC with more than $100 billion in assets to reject a customer for reasons other than financial risk. Supporters and critics of the rule both say it is intended to prevent more banks from joining those who’ve stopped serving firearm companies and financing oil and gas drilling projects.

Regulator finalizes rule forcing banks to serve oil, gun companies.

Expect the Democrats to try to overturn this. Being able to choke the income pipeline of the Gun Culture would guarantee the bankruptcy of makers and dealers of anything gun related. But maybe it won’t be that easy:

“As Comptrollers and staff in previous administrations have made clear in speeches, guidance, and testimony, banks should not terminate services to entire categories of customers without conducting individual risk assessments,” said Acting Comptroller Brian Brooks, who announced Wednesday he will leave the agency on Thursday.

“It is inconsistent with basic principles of prudent risk management to make decisions based solely on conclusory or categorical assertions of risk without actual analysis. Moreover, elected officials should determine what is legal and illegal in our country,” he said.

Banks have fiduciary duty to produce a profit for its investors. The banks that stayed away from Gun And Ammo Companies because of politics (including political pressure) missed in the income generated this year and that was breach of trust to their investors who should be royally pissed knowing they missed on money brought by the selling of over 20 million firearms and 9 billion rounds of ammunition this year alone.

Let’s hope the ruling stays put. You can always scare your stoner friends telling them the same shit will happen to them.

Hat Tip to whomever in Facebook sent me the info and now I can’t find who was it.