Senate Republicans offer warning to Amalgamated Bank

Amalgamated Bank sounds like some kind of financial institution one might find in Ayn Rand’s book Atlas Shrugged. The name just fits with the kind of villainous companies that would side with statism in order to hurt their political opponents and win an advantage for them.

However, it’s a bank that exists not in Rand’s fictional world, but in ours.

Though based on how Amalgamated Bank functions, one might be forgiven for not being able to tell much of a difference.

After all, this is a bank that was fully onboard and eager to push credit card companies to start trying to track gun sales. That’s far from the only anti-gun move made by the union-owned bank, too.

And now, Senate Republicans are issuing a warning.

Twenty-eight Senate Republicans are zeroing in on Amalgamated Bank over credit card companies’ September 2022 decisions to recategorize gun sales in a way that allows them to be flagged.

But 28 Republican senators believe Amalgamated Bank is central to the adoption of the new merchant code. They sent a letter to Amalgamated Bank President and Chief Executive Officer Priscilla Sims Brown, putting Brown and her bank on notice.

Sen. Tom Cotton (R-AR), one of the letter’s signatories, posted portions of the letter, which said, “Your bank is attempting to restrict the Second Amendment rights of Americans by going around the democratic process. You should expect Congressional oversight of your actions.”

The letter also warned Amalgamated Bank officials to retain records and be prepared for a congressional hearing.

It seems that should the GOP retake the Senate, a couple of different committees will be looking at Amalgamated’s actions, as well as whether they’re in full compliance with relevant banking laws.

Now, understand, I’m not a big fan of Congress calling private businesses to testify over things that are not unlawful. We don’t answer to Congress. It’s the other way around.

However, I’m also realistic enough to recognize that this is already a thing. After all, Congress has demanded gun company CEOs come and answer to them in the past. Turnabout is fair play, after all, and if Democrats didn’t want something like this to happen, they probably shouldn’t have started it.

The truth is that Amalgamated Bank painted their own target on themselves when they decided to get so deep into political causes. Especially when they side with those who would use the power of the government to try and punish and intimidate those who disagree with them.

So, if Democrats are going to interrogate the gun company over marketing–something that’s perfectly legal and actually doesn’t impact mass shootings or criminals in general–then yeah, Republicans can warn Amalgamated Bank to be prepared for a sit-down for their anti-gun activism.

And while I don’t like this happening in a general sense, I’m quite sure this one isn’t going to bother me enough to miss even the hint of a meal or a moment’s sleep.

Amalgamated Bank made their bed. Now, they get to lie in it.