Bill Aimed at Ending Operation Choke Point Passes House

NRA-ILA ^ | February 5, 2016 | NRA-ILA

[Cheerio]

On Thursday, a bi-partisan majority of the U.S. House of Representatives passed H.R. 766, the ‘‘Financial Institution Customer Protection Act of 2015,” sponsored by Rep. Blaine Luetkemeyer (R-MO). As we reported last year, this bill targets the abuses of Operation Choke Point (OCP), an Obama administration “enforcement” program that lumped together legal and illegal businesses into a “high risk” category and threatened the banks with intense regulatory scrutiny. The goal of OCP was to deter the banks from forming or continuing relationships with the targeted industries, thereby driving them out of business. Included on this list were firearm and ammunition sellers, many of whom found themselves struggling to find or keep banking relationships as a result of the program.

Rep. Luetkemeyer’s legislation would institute numerous reforms to bring more transparency and accountability to federal oversight of banks, all aimed at preventing the sort of unchecked enforcement discretion and twisting of legislative language at the heart of OCP.

For example, the bill would require regulators that suggest or order a bank to terminate a customer’s account to put the directive in writing, with reference to any specific laws or regulations the enforcement agency believed were being violated. Moreover, no such reason could be based solely on “reputational risk,” the supposed basis for including firearm and ammunition businesses within the scope of OCP’s “high risk” target list.

[Cheerio]

Can anyone tell me why the GOP did not defund this activity in their cromnibus bill they are so proud of?

Never mind that is a rhetorical question, but it does show why the 'insurgent presidential candidates' are at the top of the polls. I don't consider Cruz to be part of the elite cabal.

[DoughtyOne]

[Lurkinanloomin]

I pointed out on another thread that this is going nowhere because Obama will veto it. Just like the Planned Parethood defunding.

The weasel Speaker already gave him all the money he needs to carry out his last year of destruction.

[MtnClimber]

It seems there should be a way to sue for damages and penalties. The banks, the federal agencies (individualsm not the taxpayers) and even dear leader himself.

[backwoods-engineer]

GOP is complicit in Operation Chokepoint. They could have smacked down Obama so hard that Reggie Love would have felt it. But they did not.

There is no political solution when we have a Uniparty in power. Not even Cruz can fix it.

[backwoods-engineer]

Nope! Sovereign immunity for the politicians and bureaucrats, and of course banksters are never convicted. See: MF Global and Jon Corzine.

[MtnClimber]

So, is a fist fight the only way to show appreciation?

[Cheerio]

I pointed out on another thread that this is going nowhere because Obama will veto it. Just like the Planned Parethood defunding.

Agreed. It is just more GOP Kabuki theater getting ready for the 2016 elections. The GOP should have defunded all these activities that they ran on instead of bowing to the boy king. Let Obie (and in the past Reid) shut the Government down and take the case to the American people rather than hiding under their desks afraid of the their own shadow. And this CRAP by Ryan about 'clearing the deck after Boner' is just that - CRAP. Paul Rhino is Boner-Lite. Told ya so!!

[eyeamok]

Can anyone tell me why the GOP did not defund this activity in their cromnibus bill they are so proud of?

Because this program was established with the help of the LEADERSHIP OF BOTH PARTIES.

If this were serious legislation, it would have a provision for Instant Corporate Death and Asset Siezure for Rights Violations of LEGAL BUSINESSES.

With Criminal Prosecutions to follow.