Difference between revisions of "Operation Choke Point"
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'''Operation Choke Point''' is a 2012 program started by [[Obama]]'s Justice Department that uses the [[FDIC]] to pressure banks not to extend credit or other financial services to certain industries with high instances of fraud, such as [[pornography]]. Under that guise, the program is used as a backdoor to punish industries that Obama disagreed with, such as the firearms industry. | '''Operation Choke Point''' is a 2012 program started by [[Obama]]'s Justice Department that uses the [[FDIC]] to pressure banks not to extend credit or other financial services to certain industries with high instances of fraud, such as [[pornography]]. Under that guise, the program is used as a backdoor to punish industries that Obama disagreed with, such as the firearms industry. | ||
| − | [[Congress]] would investigate and rebuke the findings but little has been done to stop it | + | [[Congress]] would investigate and rebuke the findings but little has been done to stop it.<ref>[http://dailysignal.com/2016/04/07/former-top-obama-official-says-operation-choke-point-had-collateral-consequences/ Former Top Obama Official Says Operation Choke Point Had ‘Collateral’ Consequences, The Daily Signal, April 7, 2016]</ref> August 18, 2017, the [[Trump]] Justice Department led by [[Jeff Sessions]] finally killed the program. <ref>[http://freebeacon.com/issues/doj-ends-operation-choke-point/ DOJ Ends Operation Choke Point, Free Beacon, August 18, 2017]</ref> |
Merchants targeted are denied [[bank]] loans as federal regulators flag them as “high risk” for fraud. In the firearms industry, that amounts to infringing on [[2nd Amendment]] rights. Some companies targeted by Operation Choke Point; | Merchants targeted are denied [[bank]] loans as federal regulators flag them as “high risk” for fraud. In the firearms industry, that amounts to infringing on [[2nd Amendment]] rights. Some companies targeted by Operation Choke Point; | ||
Revision as of 14:16, August 21, 2017
Operation Choke Point is a 2012 program started by Obama's Justice Department that uses the FDIC to pressure banks not to extend credit or other financial services to certain industries with high instances of fraud, such as pornography. Under that guise, the program is used as a backdoor to punish industries that Obama disagreed with, such as the firearms industry.
Congress would investigate and rebuke the findings but little has been done to stop it.[1] August 18, 2017, the Trump Justice Department led by Jeff Sessions finally killed the program. [2]
Merchants targeted are denied bank loans as federal regulators flag them as “high risk” for fraud. In the firearms industry, that amounts to infringing on 2nd Amendment rights. Some companies targeted by Operation Choke Point;
- Ammunition sales
- Firearms sales
- Payday loans
- Money transfer networks
- Debt consolidation
- Online gambling
- Pornography
- Escort services