The CFSA published “UNSEALED GOVERNMENT DOCUMENTS PROVE FEDERAL COVER-UP IN OPERATION CHOKEPOINT” and it’s eye popping. It’s proof that the OCC and FDIC tried to choke out lenders operating legally.
- “These ‘undisputed facts’ show not only that the lenders have standing to sue according to their filings, but also that the lenders had their due process rights violated and deserve judgment in their favor.”
— Law360
- “By weaponizing regulators at the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency, the administration realized, it could block entire industries from the banking system. This would make it difficult – if not impossible – for businesses to operate.”
- “The case shows the chilling impact that regulation alone can have on lawful businesses. Despite the fact the they had not engaged in any wrongdoing, banks were convinced to drop customers targeted by the Obama administration.”
- “With this new evidence, it has become even more clear how invested the Obama administration was in Operation Choke Point. If an industry stood against their political agenda, it was only a matter of bringing the full force of the administrative and regulatory state against that industry as a means of coercion and punishment. Operation Choke Point was ‘Chicago-style politics’ brought to Washington.”