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Posted on 08/18/2017 2:18:03 PM PDT by 2ndDivisionVet
Republican House members announced Friday that the Justice Department has ended the controversial Obama-era program targeting payday lenders, gun shops, and other legal businesses, in response to several House Republicans who requested Operation Choke Point be shut down.
“We share your view that law-abiding businesses should not be targeted simply for operating in an industry that a particular administration might disfavor,” Assistant Attorney General Stephen Boyd wrote the GOP lawmakers in a letter dated Aug. 16.
The letter continued, saying the Federal Deposit Insurance Corporation “subsequently rescinded its list of purportedly ‘high risk’ merchants. The Department of Justice (Department) strongly agrees with that withdrawal. All of the Department’s bank investigations conducted as part of Operation Choke Point are now over, the initiative is no longer in effect and it will not be undertaken again.”
In a joint statement, four House Republicans praised the decision.
“We applaud the Trump Justice Department for decisively ending Operation Choke Point,” said the joint statement by House Judiciary Committee Chairman Bob Goodlatte, R-Va.; House Financial Services Committee Chairman Jeb Hensarling, R-Texas; and Reps. Tom Marino, R-Pa.; Blaine Luetkemeyer, R-Mo.; and Darrell Issa, R-Calif.
“The Obama administration created this ill-advised program to suffocate legitimate businesses to which it was ideologically opposed by intimidating financial institutions into denying banking services to those businesses,” the GOP lawmakers said.
Last week, these five House Republicans wrote a letter to agencies asking for the program to end.
Critics said Operation Choke Point would unfairly target politically unpopular industries such as gun sellers and payday lenders. The Obama administration under Attorney General Eric Holder established Operation Choke Point in 2012 to attack internet, telemarketing, mail, and other mass market fraud against consumers, by choking off access to the banking system.
The program uses federal banking regulators to pressure banks out of doing business with entire industries the government declares to be “high risk.” The program expanded to legal business owners who complained they were unfairly denied credit for loans.
The letter from House Republicans signed onto last week to the Justice Department, the Federal Reserve, and the comptroller of the currency said:
We request that your respective departments and agencies issue clear and public formal policy statements repudiating Operation Choke Point and the abuses by financial regulators of the ‘reputation risk’ guidance they developed and promulgated under Operation Choke Point’s auspices. Financial institutions should be given explicit assurance that they may serve these unfairly targeted industries just like any other legitimate businesses. Institutions should also be encouraged to restore long-standing relationships with lawful, targeted industries.
The response issued Friday from the five Republicans continued:
We applaud the Trump Justice Department for decisively ending Operation Choke Point. The Obama administration created this ill-advised program to suffocate legitimate businesses to which it was ideologically opposed by intimidating financial institutions into denying banking services to those businesses. Targeted industries, such as firearms dealers, were presumed guilty by the Obama Justice Department until proven innocent, and many businesses are still facing the repercussions of this misguided program.
This is no way for law enforcement to operate and runs counter to principles enshrined in our Constitution. By ending Operation Choke Point, the Trump Justice Department has restored the Department’s responsibility to pursue lawbreakers, not legitimate businesses.
winning
more WINNING! cutting back fascism .... Yippee!
That’s good. Now that more minority women are buying there will be less broo-ha-ha about it.
They didn’t do it for the love of private industry or for constitutional purposes-they did it it so they can get more money from the banking lobbyists.
Yes! WINNING!
“Trump hasn’t done a thing in seven months”
“I’m never voting Republican again”
“Trump is ineffective”
“Why hasn’t the entire agenda been rammed through”
“The swamp will never be drained”
Dumb-asses and political neophytes are unaware of greatness in the making.
Thank you, Trump!
Now to get Google to stop censoring ads for legal products that don’t fit their definition of “good”.
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GOOD!
“...Bit by bit, Obama’s anti-2nd Amendment tyranny is being shredded....”
As long as ONE of us REFUSES to obey any Unconstitutional, Un-American, illegal law passed by a subversive, un-American politicial party, they haven’t won.
As long as ONE of us is willing to stand in the street with an upraised middle finger on one hand, and an AR15 in the other and shake it in their faces, they haven’t won.
I’m reminded of the gathering in Virginia a few years back... a man stood there on the banks of the river, with an AR slung across his back, holding a sign: “There’s a REASON this is legal.”
And if they TRY to make it “illegal”... well, then, that’s “The Day” the 2nd Amendment was meant for.
And there are MILLIONS of us.
Big win for our side!
excellent
Scream it, Brother, I’m with you and you’re 110% right!
I'd like to see some legislation codifying all this, so the next Leftist prez can't just "stroke of the pen, law of the land" it back in place. But I ain't holding my breath.
Scouts Out! Cavalry Ho!
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