Browsing: Operation Choke Point

Newsbytes

Months after the Trump administration ended Operation Choke Point — an Obama-era policy that sought to curtail disfavored businesses by working through regulators to pressure banks into ending customer relationships — a group of 13 Republican members of the Senate Banking Committee wrote to FDIC Chairman Jelena McWilliams calling on the FDIC ensure that these practices are discontinued.

Community Banking

The House Financial Services Committee today advanced eight ABA-backed regulatory reform bills, including several that ABA and the state bankers associations have long championed as part of ABA’s Blueprint for Growth.

Compliance

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.

Banks and the Economy

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today released the latest legislative text of his Financial Choice Act, a 600-page bill aimed at rolling back and reforming parts of the Dodd-Frank Act’s extensive supervisory regime, as well as providing regulatory relief for banks of all sizes.

Newsbytes

In a letter to the OCC yesterday, Rep. Blaine Luetkemeyer (R-Mo.) took the agency to task for its continued involvement in the Department of Justice’s Operation Choke Point, which seeks to curtail disfavored businesses by working through regulators to pressure financial institutions to end customer relationships.

Newsbytes

Sens. Ted Cruz (R-Texas) and Mike Lee (R-Utah) yesterday introduced an ABA-supported bill intended to rein in the Justice Department’s Operation Choke Point, which sought to curtail disfavored businesses by working through regulators to pressure financial institutions to end customer relationships with these businesses.

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