Louisiana House Approves Bill to Prohibit Banks from Refusing Service to Firearm-Related Businesses

The Louisiana House has approved LA House Bill 413 that would prohibit banks from refusing to do business with companies that manufacture or sell firearms. In addition to banks, the bill also affects other financial institutions like payment processors, lenders, and credit unions.

This bill is likely in response to one major bank adding rules and restrictions for firearms dealers that bank with them, and another bank announcing that it would stop financing some firearms manufacturers.

The LA House Vote count was 65 for to 28 against.

Summary of Louisiana House Bill 413

AN ACT 2 To enact R.S. 6:424, relative to the refusal to provide financial services; to provide definitions; to prohibit the refusal of financial services to a person based solely upon that person’s lawful engagement in the commerce of, manufacturing of, servicing of, renting of, provision of training relative to, or provision of a facility designed for qualifications, training, or practice relative to firearms or ammunition; to provide for penalties; to provide for exceptions; and to provide for related matters.