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Re: DOJ Operation Choke Point blocks bank accounts

Posted: Fri Nov 09, 2018 2:14 pm
by DispositionMatrix
Senators Urge FDIC to End Choke Point Practices
Months after the Trump administration ended Operation Choke Point — an Obama-era policy that sought to curtail disfavored businesses by working through regulators to pressure banks into ending customer relationships — a group of 13 Republican members of the Senate Banking Committee wrote to FDIC Chairman Jelena McWilliams calling on the FDIC ensure that these practices are discontinued. The lawmakers raised concerns over recently released internal FDIC documents suggesting that banks have been verbally encouraged to curtail business relationships with disfavored but legal industries.

Specifically, the senators called on the FDIC to “review all options available to ensure lawful businesses are able to continue to operate without fear of significant financial consequences. They also asked the agency to review how it communicates policy internally.

“There is no place for a political agenda in oversight of the banking system. Operation Choke Point, and its associated culture and Choke Point-like regulatory actions, must end once and for all,” they said. “This should not be a partisan issue: no administration — Republican or Democratic — should be able to use the administrative state to silence industries they do not like.”
Great words from the senators. It would be nice if they were not hypocrites and if the Democrats were on board with this particular move.

ETA: About time I fixed the title.

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Fri Nov 09, 2018 3:18 pm
by AndyH
One one hand, it's nice that this sort of strong-arm manipulation is being stopped.

On the other, it makes perfect sense that the party that doesn't care about much else is fighting for the banking industry. The gun vendors accepting cryptocurrencies already have a way out of this particular swamp.

Re: DOJ Operation Choke Point blocks bank accounts

Posted: Thu Mar 14, 2019 3:46 pm
by DispositionMatrix


Democrat Openly Backs Operation Choke Point’s Objectives During Hearing
Maloney knows that she’ll never be able to legislate guns away as she’d like to, so instead she wants to berate a company for not doing it for her. Wells Fargo has done nothing wrong. Maloney isn’t even saying they’re doing anything remotely illegal. She’s angry because they’re willing to work with entities that she doesn’t like.
What Maloney wants, however, is a universal adoption of these rules because then it means the firearm industry has no choice but to follow these dictates regardless of what the law allows.
Regardless, Maloney’s comments are disturbing. It should disturb each and every American, regardless of political stripe. After all, if lawmakers can try and pressure banks to refuse to do business with companies operating in full compliance with all applicable laws, what do you think they’d do to an individual they disagreed with?

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Thu Mar 14, 2019 4:43 pm
by TrueTexan
The Reptilians are stopping it before they are declared disfavored business. We could have expected this so Orange Slime's Organization is not declared disfavored. They weren't caught in time.

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Thu Mar 14, 2019 8:07 pm
by K9s
At what point does the RNC or DNC become a target? Or ActBlue?

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Fri Mar 15, 2019 1:30 am
by JohnNewell
"Rambo" Joe Biggs, nut case and former InfoWars reporter, lost his account. So did several white supremacists.

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Fri Mar 15, 2019 5:27 am
by DispositionMatrix
K9s wrote:At what point does the RNC or DNC become a target? Or ActBlue?
Operation Choke Point allegedly was ended in 2017. Looks as if Maloney wishes it were still in effect.

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Fri Mar 15, 2019 5:29 am
by DispositionMatrix
JohnNewell wrote:"Rambo" Joe Biggs, nut case and former InfoWars reporter, lost his account. So did several white supremacists.
No idea who that is or how that relates to Operation Choke Point. Did Biggs lose his bank account due to the program?

Re: DOJ operation CheckPoint blocks bank accounts

Posted: Fri Mar 15, 2019 12:47 pm
by JohnNewell
Biggs left InfoWars but is still active making far right podcasts. He lost his Chase account as did a few others that were vocal on the far right,