Justice Department trying to destroy legitimate businesses
Operation Choke Point, a credit card fraud task force run by the Justice Department, was created to “choke out” businesses the Obama administration finds objectionable, according to a congressional committee report obtained by The Washington Times.There is more, including this story on payday lenders also effected by the DOJ action. By getting the banks to shut off their borrowing, they are denying these companies due process to challenge the actions of the Justice Department. They are also interfering with interstate commerce.
The administration is knowingly targeting so-called “high risk” businesses — which include payday lenders, gun retailers and ammunition merchants — despite the fact they are legitimate, says a staff report by the House Committee on Oversight and Government Reform.
SEE ALSO: Operation Choke Point forces bank to dump gun store
Internal documents within the Justice Department acknowledge the program’s impact on legitimate merchants, the report says. Attorney General Eric Holder was informed that banks were exiting entire lines of business deemed “high risk” by the government, yet his agency continued to pursue the operation.
“Operation Choke Point is the Justice Department’s newest abuse of power,” Rep. Darrell Issa, California Republican and committee chairman, said in a statement. “If the administration believes some businesses should be out of business, they should prosecute them before a judge and jury. By forcibly conscripting banks to do their bidding, the Justice Department has avoided any review and any check on their power.”
The Washington Times has reported that several gun retailers have been dropped by their banks as a result of the operation, the most recent being Powderhorn Outfitters, a sporting goods shop in Hyannis, Mass., which was dropped by its bank of 36 years — TD Bank — last week.