Joe Sirochman, owner of American Spirit Arms posted to his Facebook account that Bank of America was holding deposits from his business because they felt that he,
“should not be selling guns and parts on the Internet.”
He has been a B of A customer for over 10 years.
He said it took him hours on the phone before he got to a Manager who was able to help him out, and finally they released just one of the deposits of three.
Sirochman told B of A that they have no right to make up their won rules. He also told them that his business has a Federal Firearms License and that they follow all of the Federal laws and rules of the ATF in their business.
He said that when he heard why the deposits were on hold, “he flipped the F*** out.”
Can’t really say that he can be blamed for flipping out, because when you’re in business, you’re in it to make money, not have the bank hold your deposits hostage until they determine that it is time to release them.
Bank of America has recently reached a 11.6 billion dollar settlement with Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash, bringing it a step closer to clearing up its legacy of bad home loans, according to the Washington Post.
That’s a double standard, isn’t it? Kind of like saying we can do things the way we want, but you have to do it our way. The reason for their settlement is because they did not deal with home foreclosures fast enough.
So you’re a B of A customer? For how much longer?
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