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Operation Choke Point was an initiative of the United States Department of Justice beginning in 2013 [1] which investigated banks in the United States and the business they did with firearm dealers, payday lenders, and other companies that, while operating legally, were said to be at a high risk for fraud and money laundering.
Those of us in the crypto industry have likened the recent crackdown to Operation Choke Point, the Obama-era program aiming to marginalize certain industries through FDIC guidance to banks. This ...
[1] [9] He served as chairman of the FDIC from November 28, 2012 to June 5, 2018. During this period, Operation Choke Point took place. The FDIC and Department of Justice settled multiple lawsuits related to Operation Choke Point for the pressuring of banks to shut down the accounts of legal industries accessing banking services. [10]
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WASHINGTON (Reuters) -A senior attorney with the Federal Deposit Insurance Corporation has pleaded guilty to one charge of sexually exploiting children, the U.S. Justice Department announced late ...
Operation Choke Point was an ongoing initiative of the United States Department of Justice that was announced in 2013 [153] and investigated banks in the United States and the business they did with payment processors, payday lenders, and other companies believed to be at higher risk for fraud, money laundering, and terrorist financing.
An outside review released on Tuesday found the agency needed to adopt sweeping changes to fix workplace culture and address harassment, racial discrimination and other longstanding problems ...
The lawsuit subsequently unsealed more than 900 pages of emails and depositions demonstrating that government officials, including senior FDIC officials, targeted legal businesses including small-dollar lenders through Operation Choke Point. [17] The parties reached a settlement on May 22, 2019. [18]