Eric Holder's Bank Intimidation Continues to Choke Out Small Business
Last year the Department of Justice partnered with the FDIC and the Federal Trade Commission to put a whole host of industries (and their customers) on a "high-risk" list and urged banks to pay close attention to those industries as part of Operation Choke Point. Operation Choke Point is described this way by USConsumers.org:
Operation Choke Point is a program by the Obama Administration designed to interfere with and destroy the banking relationships between America's banks and their clients. The name, "Operation Choke Point" was developed by the Department of Justice in Collaboration with the FDIC and the Office of Comptroller of Currency at the Treasury Department.
How it works:
-Civil Investigative Demands (CIDs): These are a type of demand for information from banks an businesses issued by federal regulators as a "fishing expedition." Typically these CIDs request...
Looking for a report on this, it was hard to find something other than someone that has an inbred hatred of Blacks in general and Obama in particular. The article in the Operation Choke Point: the stop-and-frisk tactic of the financial industry in the Guardian, The Guardian by the way, didn't whitewash the idea, to quote, "Trying to protect consumers from fraud, regulators might be discriminating against low-income Americans and lenders." Interesting article and without the tirades.
The title is truncated vs. the original & thus gives the misleading impression that *all* small business is being targeted, rather than firearm/ammo dealers as the original title says. And the 2nd paragraph is a quote from another source, not inline as the above implies.
Now maybe I'm splitting hairs here, but "Christian" websites aren't exempt from the 9th Commandment.
By now we should understand that banks are effectively nationalized, and thus should be avoided anyway quite apart from the fiduciary risks inherent with borrowed money. A century of political interference in the banking industry (not just from Progressives), has led to this.