The Libertis’ battle with BankUnited began last month. For seven years, they say, they had no problem with the Miami Lakes-based bank. T.R. had run a gun store in the Garden State, and when he opened Top-Gun Firearms on Calle Ocho, BankUnited operated the account.

But when T.R. decided to retire and let Elizabeth take the store online — under the new name Discount Ammo-N-Guns — the Libertis found themselves suddenly under fire.

A March 12 letter mysteriously informed them that BankUnited was closing their checking account “pursuant to the terms and conditions listed in our Depositor’s Agreement.” It gave the Libertis three days to transfer their cash elsewhere. When the Libertis called BankUnited for an explanation, they were politely informed that none would be forthcoming.

via BankUnited Discriminates Against Gun Dealers, Local Store Owners Claim | Miami New Times.

I am amazed that we are still seeing this stuff happening.  But here is the kicker:

 After a day of dialing different BankUnited divisions and directors, the Libertis finally found out.
“This letter in no way reflects any derogatory reasons for such action on your behalf. But rather one of industry,” wrote Coral Way branch manager Ricardo Garcia. “Unfortunately your company’s line of business is not commensurate with the industries we work with.”

BankUnited refused to explain the email to New Times, saying only, “We cannot discuss a customer’s account.”

“your company’s line of business is not commensurate with the industries we work with.” As if selling a legal and VERY popular product is somehow distasteful and immoral.  That BankUnited was “the second-most costly such failure for the FDIC.” with 5.8 BILLION dollars evaporating from its accounts is a legitimate line of business. That they got their assets seized is a great demonstration of their honesty and morality shown on their involvement in subprime lending loans.

And I cannot make sense that you would reject the income from about the only business practice that has not only not being affected by the economy but it has actually grown.  If I were an investor, I’d be demanding the figuratively heads of whatever morons did this.