BankThink Evidence is now clear: Operation Choke Point hurt lawful businesses

As a former community banker, I had the amazing opportunity to work with many members of my community on their journey to the American dream. Whether it’s the first loan to open a small business or credit to hire more workers, financial institutions are critical partners for individuals and businesses as they strive to achieve success through hard work and dedication.

For the last five years, I have fought to end the Obama Administration’s ideologically driven initiative to kill legitimate businesses, aptly named “Operation Choke Point.” Former Federal Deposit Insurance Corp. Chairman William Isaac went as far as to call it “one of the most dangerous programs I have experienced in my 45 years of service as a bank regulator, bank attorney and consultant, and bank board member.” In this unprecedented initiative, unelected bureaucrats at the Department of Justice, the FDIC and other agencies set out to kill legal businesses by starving them of access to financial institutions.

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