GOP Lawmakers Push Regulators To ‘Repudiate’ Choke Point

Law360, New York (August 10, 2017, 4:20 PM EDT) -- Republican lawmakers on Thursday asked two bank regulators to “repudiate” Operation Choke Point, an Obama-era U.S. Department of Justice program that aimed to cut off illegal operations from the banking system that critics say swept up legitimate payday lenders, gun dealers and other businesses.

The five Republican lawmakers, all of whom chair relevant committees and subcommittees, asked the leaders of Federal Reserve and the Office of the Comptroller of the Currency to take steps to make clear that they are no longer following past guidance that...
To view the full article, register now.