![]() 2021 issue the Proposed Rule served as a “warning sign of things to come in 2021.” While the industry celebrated the quick about-face, we wrote in our coverage in the Feb. However, thanks to more than 70,000 public comments and pushback from industry manufacturers and associations, ATF announced its withdrawal of the Proposed Rule Guidance just days later on Dec. The timing of this announcement and the shortened window for comments were widely panned as a not-so-subtle attempt to legislate during what’s normally a quiet time of the year. In addition to the M240 and its variants, FN America currently holds contracts for the FN M249 lightweight machine gun the FN MK 46, MK 48, MK 17 and MK 20 SSR for USSOCOM and various other contracts.ĪTF Renews Attempt To Regulate Stabilizing BracesĪt the close of 2020, ATF published a Proposed Rule Guidance in the Federal Register to classify firearms with stabilizing braces (“Notice on the Objective Factors for Classifying Weapons with ‘Stabilizing Braces’”) - inviting public comment from Dec. military, and the company continues to develop innovative technology. Throughout its history, FN has been one of the largest suppliers of small arms to the U.S. “We’re incredibly honored to continue our relationship with the Army, supporting them with high-quality and reliable weapon systems for our servicemen and women.” Army contract for the M240 machine gun was the first military contract FN was awarded, and the first to be produced from our production facility in South Carolina,” said Mark Cherpes, president and CEO of FN America. This contract provides a procurement vehicle for the Army to purchase multiple variants of the M240 machine gun, including the M240 coaxial, the M240B, M240L, M240D and M240H models. military in the late 1970s, and has been in continual service since being introduced. The M240 general-purpose machine gun, derived from the FN MAG 58, was adopted by the U.S. The contract, awarded through 2026, is multi-faceted, and will support both the U.S. Army with M240 series machine gun variants and spare receivers. Army Contract For M240 Machine Guns, ReceiversįN America announced the awarding of a firm-fixed-price contract to supply the U.S. She serves on the House Committee on Financial Services as vice chair of the House Committee on Agriculture and Workforce Protections subcommittee chair on the House Education & Labor Committee.FN Wins U.S. ![]() represents Charlotte and Mecklenburg County, North Carolina in Congress. ![]() The letter requests that Credova Financial, LLC respond with information on the use of its BNPL services in gun sales by September 26, 2022.Ĭongresswoman Alma S. Concealed Carry Association, and has fundraised on behalf of the lobbying arm of the National Rifle Association.ĭuring a hearing held on November 2, 2021, by the Task Force on Financial Technology, several witnesses identified a number of consumer protection and public safety risks associated with BNPL. ![]() We owe victims and survivors of gun violence our vigilance.”Īs underscored in a June 2022 New York Times report, Credova has actively sought to partner with gun merchants to market BNPL financing for gun sales. The company currently partners with more than 60 online gun and hunting supply retailers, has initiated a sweepstakes in partnership with the U.S. We want to make sure these novel ways of financing the purchase of firearms comply with the law, and we want to be certain these practices aren’t contributing to the national gun crisis. “However, my colleagues and I are concerned about the rapidly-growing online gun market, including point-of-sale installment loans and ‘buy now, pay later’ financing. “This year, Congress honored tens of thousands of victims of gun violence with action by enacting common sense legislation to make our communities safer from the threat of gun violence,” said Rep. Maloney (NY-12), Al Green (TX-09), and John Larson (CT-01) cosigned the letter. (September 1, 2022) - Earlier this week, Congresswoman Alma Adams (NC-12) sent a letter to Credova CEO Dusty Wunderlich requesting information regarding the use of Credova’s “Buy Now, Pay Later” (BNPL) services to finance online purchases for guns, ammunition, and firearm accessories. BNPL allows consumers to purchase and immediately take possession of an item after agreeing to pay the purchase price over a fixed period of time, and Credova has aggressively advertised this payment option for the purchase of guns in the United States.
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