ccording to The Reload, Wells Fargo Bank dumped all the accounts of a prominent gun dealer in Florida. They closed the business and personal accounts of Brandon Wexler over the Christmas holidays.
They claimed Wexler’s business was too risky.
“Wells Fargo performs ongoing reviews of its account relationships in connection with the Bank’s responsibilities to manage risks in its banking operations,” the bank said in a December 22nd letter to Wexler. “We recently reviewed your account relationship and as a result of this review, we will be closing your above-referenced accounts.”
Another letter sent the following day informing Wexler that Wells Fargo was canceling his business line of credit said, “the reason(s) for this action is: Banking guidelines exclude lending to certain types of businesses.” But the letters offered no further details, and Wexler said none of the officials at his local branch offered any either.
Mr. Wexler has done business with them for twenty-five years; he’s a professional fireman, done everything right, and nothing has changed in his business.
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