Intuit reverses decision to ban gun companies from using services
foxbusiness.comCresset Capital CIO and founding partner Jack Ablin discusses higher interest rates and offers his market outlook on 'Barron's Roundtable.'
Senate Commerce Committee Ranking Member Ted Cruz, R-TX, is lauding a recent decision from software giant Intuit on a reversal of its policy that had forbade gun manufacturers and sellers from using certain services from the company.
The services in question surround the usage of QuickBooks, a tool for small businesses to assist with accounting and financial information, that is developed by Intuit.
A spokesperson with Intuit commenting on the change in policy telling FOX Business, «Intuit continually reviews and updates our policies to ensure they best serve the needs of our customers and remain compliant with all applicable federal and state laws. Our Acceptable Use Policy is based on various factors, including compliance with laws and banking partner requirements. Our commitment to customers is unwavering, and we will continue to ensure our policies serve their needs.»
Sen. Ted Cruz, R-Texas (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)
The reversal comes in the wake of an oversight investigation launched by staff of Cruz on the Commerce Committee into business practices from the software company.
In a letter to Intuit CEO Sasan Goodarzi, exclusively obtained by Fox Business, Cruz described the QuickBooks policy, which was in effect until August 1st, 2023, that said businesses engaged in «guns and firearms manufacturing…[are]…ineligible (or may become ineligible)» for QuickBooks’ payroll services.
The Quickbooks logo on a smartphone in an arranged photograph in Hastings-on-Hudson, New York, U.S., on Friday Sept. 3, 2021. Intuit Inc., the maker of TurboTax and
Read more on foxbusiness.com
