Legal

Justice Department Formally Ends ‘Operation Choke Point’

In a letter to House Judiciary Committee Chairman Bob Goodlatte (R-Va.) yesterday, a Department of Justice official formally confirmed that the agency has ended the controversial Operation Choke Point initiative, which under the Obama administration sought to curtail legal but politically disfavored businesses by working through bank regulators to pressure financial institutions to end customer relationships with those businesses.

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Judge Hears Oral Arguments in Fed Dividend Lawsuit

A federal judge yesterday heard oral arguments in the lawsuit filed by ABA and Seattle-based Washington Federal seeking over $1.1 billion in damages resulting from the United States’ improper reduction in dividends paid to Federal Reserve member banks.

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ABA Files Reply in Field of Membership Case

ABA filed a combined brief yesterday opposing NCUA’s cross-motion for summary judgment and reinforcing the association’s own motion for summary judgment in the lawsuit challenging NCUA’s final rule expanding credit union fields of membership.

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