Pushing Back Against Operation Choke Point

Law360, New York (May 17, 2017, 12:26 PM EDT) -- Operation Choke Point continues to cast an ominous cloud over the payments industry. Regulatory enforcement actions against payment processors, spearheaded principally by the Federal Trade Commission and the Consumer Financial Protection Bureau, have sought draconian sanctions against defendants that allegedly ignored “red flags” suggesting that the merchants they serve were engaged in consumer fraud. Indeed, citing high transaction reversals, consumer complaints, and concerns articulated by financial institutions or the card brands, government agencies have filed lawsuits that attempt to recoup the entire monetary value of transactions...
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