Since 2014, financial regulators have been engaged in a campaign against small dollar lending and other businesses deemed to be politically incorrect by the previous administration. This campaign, never requested or authorized by Congress, is called Operation Choke Point, because it aims to “choke off” the financial oxygen of these small businesses by intimidating banks into ending banking relationships with them. Many victims of Choke Point have been forced into operating on a cash-only basis while they seek new banking arrangements. Some business owners have even had personal and family bank accounts canceled.
This panel will discuss how and why Operation Choke Point was allowed to happen, how it is continuing to have a deleterious effect on these businesses, and how the real victims of Choke Point are actually the low-income, underbanked customers who rely on the services provided by financial services centers across America.
Monday, September 11, 2017
12:00 PM – 1:00 PM (lunch provided)
House Visitors Center, Room 200
For purposes of congressional ethics rules, this is a widely attended event.
Questions? Please email firstname.lastname@example.org or call Taylor Barkley at (202) 331-1010.