Amongst the record-breaking number of executive actions taken by President Joe Biden was one related to a little-known, frightening Obama-era program called Operation Choke Point. The program, dubbed so under former Attorney General Eric Holder, uses the power of the federal government to target legal yet leftist-disfavored businesses. These include gun sellers, pawnshops, and short-term money lenders.
The Trump administration did its best to end this blatantly unconstitutional program that sought to discriminate against legal industries. In 2017, the Justice Department declared the program “formally over.” At the end of Trump’s term, the Office of the Comptroller of the Currency established the Fair Access rule to solidify its culmination.
The Backstory of Operation Choke Point
The Trump administration rule appeared innocuous enough, instructing banks to “conduct risk assessments of individual customers, rather than make broad-based decisions affecting whole categories or classes of customers when providing access to services, capital, and credit.”
Under Operation Choke Point, federal regulators instructed banks to do the opposite — to openly discriminate against entire industries the Obama administration found objectionable. Weaponizing the power of banking regulators at the Federal Deposit Insurance Corp. and the Office of Comptroller of the Currency, the Obama administration realized it could block entire industries from the banking system that it didn’t like. This made it difficult — if not impossible — for politically unfavored businesses such as gun sellers and short-term lenders to operate.
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Seeing as how banks no longer pay interest anyway, maybe we should all consider a new method of storing our savings.
Beijing Biden is NOT President, and he doesn't have an "administration." It's a communist dictatorship accomplished by the stolen election and the cowardly RINOs.
The DOJ Is so corrupt that they permitted Obama to create such an EO and then to administer it without the DOJ bringing an action to stop it.
Who are the dividers of the nation not President Trump but the socialist Democratic Party
That's called Fascism.
The useful idiots are more than happy to accommodate (like big tech)
It seems to me that this type of executive action would be just another count of treason on Joe Biden and all the Democratic politicians.
Not to mention the BASTARD is taking EVERYTHING in the direction of straight up COMMUNISM..! And Now, NOTHING on Federal property or Federal Funding can be Named after Donald Trump and Trump will be baned from being burried at Arlington National Cemetary..! Fact is that they ARE after all of us Trump Supporters in ANY Possible Way They Can..!