Justice Department: Operation Choke Point ‘no longer in effect’

first_imgThe Justice Department has announced an end to the Operation Choke Point initiative, which was launched under President Barack Obama to fight consumer fraud by denying fraudulent businesses access to banking services.NAFCU had raised concerns that the program could deter the development of e-commerce and stifle economic growth. The initiative also held financial institutions and third-party processors accountable if they continued to serve a client operating in a fraudulent manner.Assistant Attorney General Stephen Boyd sent a letter earlier this month to House Judiciary Committee Chairman Bob Goodlatte, R-Va., who has repeatedly called for the program’s end, which called the initiative “misguided” and stated that it is “no longer in effect.” continue reading » 11SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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