Posted on 05/25/2014 10:22:14 AM PDT by Rusty0604
The general outline is the DOJ and bank regulators are putting the screws to banks and other third-party payment processors to refuse banking services to companies and industries that are deemed to pose a “reputation risk” to the bank. Most controversially, the list of dubious industries is populated by enterprises that are entirely, or at least generally, legal.
The ability to destroy legal industries through secret actions to deprive them of banking services has obvious political consequences. For example, it was reported last week that firearms shops are alleging that Operation Choke Point is being used to pressure banks into refusing to providing financial services.
The larger legal and regulatory issue here is the expansive use of the vague and subjective standard of “reputation risk” to target these industries. ..Is there any discernible principle as to why, for example, a payday lender or firearms dealer poses a “reputation risk” and an abortion provider does not?
(Excerpt) Read more at washingtonpost.com ...
what an Ominous Name..Operation Choke Point
It is still political oppression by the FED Govt.
no different than the IRS scandal !
for which "there is no smidgeon of evidence".
Back Door suppression and tyranny by inuendo !!
We are a nation of Laws ,.. except no one is enforcing the law ... think about that one, and it's implications !!
Someone needs to tell these RATs that they could be on our “do not bank” list in the future. Can you imagine the uproar if Planned Parent Hoods was black listed?
This bunch certainly has a Knack For Smidgeons doesn’t it....
A Smidgeon here...a Smidgeo there before long it adds up to a complete breakdown of the rule of law.
I think it’s time we have a proper bank.
a location that behaves like a public safe. your interface would be a couple of sets of numbers. you forget the numbers, you lose your money. no names. no addresses. no monthly statement shipped to your home... as there are no addresses. want a statement, show up with the proper sets of numbers and one would be printed. no emailing of data... because there’d be nowhere to send it as no email addresses would be kept. checks could work, but only with a specialized key fob/smart phone app that would calculate a digital signature to allow the authorized person to ‘sign it’
How is this not Fascism is it’s worst form?
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