Mon, Aug 21, 2017
The Department of Justice (DOJ) has ended Operation Choke Point, an initiative designed to combat fraud but concerning to CUNA and credit unions due to potential restrictions in access to financial services. In a letter to Reps. Hensarling (R-Texas) and Bob Goodlatte (R-VA), Assistant Attorney General Stephen Boyd called the program a “misguided initiative.”
“All of the Department’s bank investigations conducted as part of Operation Choke Point are now over, the initiative is no longer in effect, and it will not be undertaken again,” wrote Assistant Attorney General Stephen Boyd. “The Department will not discourage the provision of financial services to lawful industries, including businesses engaged in short-term lending and firearms-related activities.”
The leagues, credit unions and CUNA have voiced opposition to Operation Choke Point, supporting legislation passed by the U.S. House of Representatives in February to place limits on the program.