Following an investigation spearheaded by Republican U.S. Sen. Ted Cruz of Texas, financial software company Intuit has discontinued internal policies that stopped gun manufacturers and sellers from using their software.
According to a letter from Cruz, JP Morgan Chase admitted to pressuring Intuit into creating policies that stopped gun manufacturers and sellers from using their payroll system QuickBooks.
Cruz said Texas-based firearm parts manufacturer Dawson Precision brought the matter to his attention after Inuit canceled their QuickBooks subscription without warning.
“Intuit later said that it canceled Dawson Precision’s account because, as a firearm manufacturer, it was in violation of Intuit’s acceptable use policy,” wrote Cruz. “When Dawson Precision tried pointing out that it was not actually in violation of Intuit’s policy because it did not manufacture firearms, just small parts, Intuit directed it to lodge a complaint with the third party that had discovered the alleged violation.”
“Ultimately, Intuit’s sudden decision had forced Dawson Precision to print paper checks for weeks while scrambling to secure another vendor,” noted Cruz.
After Cruz’s staff approached Intuit for an explanation, Cruz said Intuit “explained that its banking partners, JPMorgan, and Bank of America, demanded that Intuit create and enforce bank policies regarding firearm sellers and manufacturers.”
After my staff met with those banks, Intuit clarified that Bank of America required it to prohibit gun manufacturers from using QuickBooks payroll services while JPMorgan required Intuit to restrict gun sellers from using QuickBooks payment processing services.
“JPMorgan acknowledged that it indeed was the source of Intuit’s payment processing services policy restricting firearm sellers,” according to Cruz’s letter. However, Bank of America “denied that it had ever given Intuit any instructions relating to firearm manufacturers or sellers.”
“Woke big banks are increasingly weaponizing their power to cut off law-abiding businesses from accessing banking services,” Cruz told The Daily Signal. “We cannot allow giant corporations to get away with punishing customers who do not fall in line with the Left’s political whims and leanings.”
Texas Gun Rights President Chris McNutt told Texas Scorecard, “If financial institutions continue targeting and discriminating against lawful gun owners then Texas Gun Rights will continue working with the Texas legislature to rein in these woke corporations, just like we did when we supported the Second Amendment Financial Privacy Act during the 88th Legislative Session.”
“The Second Amendment is a right, not a privilege,” said McNutt. “And we will fight to put woke companies out of business if they want to infringe upon any Texans’ constitutionally protected rights.”
JP Morgan Chase did not respond to a request for comment.