Stop The Choke
@StopTheChoke
Photos
About Stop The Choke
President Obama is using Operation Choke Point to bypass Congress and destroy the free-market.
In 2013. the Obama administration launched an under-the-radar project, ‘Operation Choke Point,’ which is designed to destroy three sectors of the private lending industry: third party payment processors, payday lenders, and online lenders.
The operation is headed by political operatives and career bureaucrats at the Department of Justice, the FDIC, and the new Consumer Financial Protection Bureau. It appears to be the latest example of the Obama administration’s successful efforts to weaponize the apparatus of the federal government against people and industries it opposes ideologically.
According to the Wall Street Journal, the federal initiative now known as ‘Operation Choke Point’ is an outgrowth of the President’s Financial Fraud Task Force, established by President Obama by Executive Order in 2009. It also appears to have been kicked off in secret by the Department of Justice, FDIC, and the CFPB in early 2013 without the requisite statutory authority. Officials at the Department of Justice have withheld information about the program from Congress, though they have eagerly shared details with federal financial institution examiners authorized to supervise and discipline the nation’s banks and related financial institutions.
In 2013. the Obama administration launched an under-the-radar project, ‘Operation Choke Point,’ which is designed to destroy three sectors of the private lending industry: third party payment processors, payday lenders, and online lenders.
The operation is headed by political operatives and career bureaucrats at the Department of Justice, the FDIC, and the new Consumer Financial Protection Bureau. It appears to be the latest example of the Obama administration’s successful efforts to weaponize the apparatus of the federal government against people and industries it opposes ideologically.
According to the Wall Street Journal, the federal initiative now known as ‘Operation Choke Point’ is an outgrowth of the President’s Financial Fraud Task Force, established by President Obama by Executive Order in 2009. It also appears to have been kicked off in secret by the Department of Justice, FDIC, and the CFPB in early 2013 without the requisite statutory authority. Officials at the Department of Justice have withheld information about the program from Congress, though they have eagerly shared details with federal financial institution examiners authorized to supervise and discipline the nation’s banks and related financial institutions.
