Banking and Finance Law Daily Wrap Up, STATE BANKING LAWS—Financial institutions say they don’t discriminate against firearm commerce, (Aug 12, 2026)

By Carrie DeLeon

Three companies who received letters from the West Virginia’s attorney general assured the state AG that they do not categorically refuse to serve firearms industry companies.

In response to an investigation conducted by West Virginia Attorney General John B. McCuskey, BILL Holdings, Inc., Ramp Business Corp., and First Internet Bank of Indiana said that they don’t discriminate against or otherwise refuse to do business with companies associated with the firearms industry. At the same time, the companies contend that they are not “financial institutions” under state law and not subject to the state’s Firearms Industry Nondiscrimination (FIND) Act.

The companies were informed of the investigation last month by AG McCuskey (R.), who sent letters to fintech firms BILL and Ramp alleging that they may be in violation of the state’s FIND Act. A third letter was sent to First Internet Bank of Indiana, alleging it may have violated the FIND Act because it may be a Ramp partner and may provide checking account deposit services to Ramp (see Banking and Finance Law Daily, July 31, 2026). The law makes it illegal for a financial institution that does business with the state to discriminate against the firearm industry. AG McCuskey said that his office was investigating whether the companies denied services to a West Virginia-based ammunition manufacturer, Kent Cartridge Company, and threatened legal action if the companies did not take corrective action.

Although BILL points out that it is not considered a “financial institution” within the meaning of W. Va. Code § 5A-14-2(4) and therefore not subject to the FIND Act, it said it has now entered into a business relationship with Kent Cartridge Company. “It is not our policy or practice to categorically deny as customers companies engaged in the lawful commerce of firearms, firearms accessories, or ammunition products.”

Similarly, Ramp also contends that it has not violated the FIND Act. “First, Ramp is not a ‘financial institution’ as defined in section §5A-14-2(4) of the FIND Act. Ramp does not currently have a contract with, or provide services to, the State of West Virginia, and Ramp is not an insured bank, commercial bank, credit union, or operator of a credit card system,” the company said in a letter to the AG’s office. In addition, Ramp said that Kent Cartridge never submitted an application for services.

First Internet Bank said that while it partners with Ramp to offer deposit accounts to customers, it has no record of Kent making a request for services from First Internet Bank. “Your letter does not identify a factual basis for concluding that First Internet Bank was involved in the matters described herein, and First Internet Bank is unaware of any facts that would support such a conclusion,” the firm wrote in its letter, adding that the AG’s office should retract its press release and correct the public record.

AG McCuskey, meanwhile, commended the companies for committing to serving all types of businesses. “We are pleased that these financial companies have confirmed that they will treat members of the firearms industry the same way they treat all other business. The FIND Act exists because West Virginians care deeply about the right to bear arms and my Office is committed to protecting that right,” McCuskey said in a statement this week. “I encourage any West Virginia firearms business, large or small, to reach out to our office if they have faced discrimination by a financial institution, bank, credit card company, or payment processor. We will investigate, and when warranted, take action.”

Companies: BILL Holdings, Inc.; First Internet Bank of Indiana; Kent Cartridge Company; Ramp Business Corp.

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