[/In 2000 the Clinton administration reached an agreement with Smith & Wesson, to end federal and state lawsuits, in exchange for marketing and design changes by the company. Some of the items Smith & Wesson agreed to were; to sell guns with locks, to build the locks in the weapons within two years, implement smart gun technology, and take ballistic fingerprints of its guns.[15] Clinton called the deal a "major victory for America's families."[15] The NRA and other gun rights groups heavily criticized the settlement calling Smith & Wesson's actions "a sell-out",[16] with the NRA calling the agreement ""tantamount to back door blackmail".[15] Smith & Wesson's ownership changed in 2001 and the agreement fell apart after George W. Bush came to office and supported lawsuit protection for gun manufactures.[17] However, Smith & Wesson continues to sell guns with internal locks.QUOTE]
https://en.wikipedia.org/wiki/Gun_control_policy_of_the_Clinton_Administration
So after Clinton left office and the ownership of S&W changed hands the older deal was no longer valid but Saf-T-Hammer had been founded for the purpose of putting locks on guns and so the locks went into the guns and have kept going into them.
This is also part of why the locks in S&Ws are frowned on.
There are some few who have a immature pornographic interest in the former Secretary of State who call the locks "Hillary Holes" but she held no office at that time and had no role in the locks or the agreement that proceeded them.
tipoc