Could banks control gun sales? - News, Weather, Sports, Toledo, OH

Could banks control gun sales?

LUCAS COUNTY (WTOL) -

"We're going to, we're going to make changes. I see Congress wanting to act now for the first time."

That's what President Donald Trump said Friday on the topic of mass shootings, like the one in Florida, last week.

Could banks and credit card companies beat politicians to it? Financial experts have recently floated the idea of these businesses refusing consumers to buy guns with their products.

They've done it before. JPMorgan Chase, Citigroup and Bank of America banned the use of their cards to buy Bitcoin and other cryptocurrencies. Plus, Square, Stripe and Apple Pay banned the use of their services to buy guns years ago. 

CCW instructor, Tom Urbanski said he's already found a way around Paypal's restriction on gun sales. He simply buys a gift certificate with his Paypal account to a retailer that sells guns.

"If Paypal knew how many guns I bought through Gander Mountain just by buying a gift card through Gander Mountain and then using it to buy a gun, they'd have a heart attack," Urbanski said.

Urbanski said using cash to buys guns, if credit card companies don't allow it, could mean trouble. While a staunch supporter of the Second Amendment, he admits there are loopholes that lead to guns getting in the wrong hands.

"In 30 states, including Ohio, once that gun leaves the actual gun dealer, it's like a loaf of bread. If I want to sell it to my neighbor, not write down anything, total cash deal, no problem at all. Even if that guy may be a convicted felon," Urbanski explains. 

WTOL 11 reached out to Fifth Third Bank, Wells Fargo and JPMorgan Chase to see if they are considering banning gun purchases. They have yet to respond. 

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