Money makes the world go round. Especially for small businesses. If they can’t get the financial support they need from banks, well, they can go belly up right quick.
Knowing this, the Obama administration launched Operation Choke Point in 2013. With former Attorney General Eric Holder at the helm, the Department of Justice was to encourage banks and money lenders to cut ties with companies engaged in nefarious activities. Those it deemed “high risk” for fraud, money laundering and even terrorism.
Turns out, “high risk” really meant anyone and everyone who fell out of favor with King Barry. Yes, Choke Point put a nice big target on the back of the gun industry. Mom-and-pop gun dealers were at risk of having the rug pulled out from underneath em. So were ammo and firearm manufacturers.
This week, by a vote 395 to 2, the House passed the Financial Institution Customer Protection Act (H.R. 2706). It would put an end to Choke Point shenanigans.
“Over the past several years, I have led the effort to combat Operation Choke Point, the Department of Justice and Federal Deposit Insurance Corporation-led initiative that sought to cut off legal businesses from the financial services they need to survive,” said the bill’s sponsor, Rep. Blaine Luetkemeyer (R-MO) in a press release.
“It is simple: the federal government should not be able to intimidate financial institutions into dropping entire sectors of the economy as customers, based not on risk or evidence of wrongdoing, but purely on personal and political motivations,” he continued.
SEE ALSO: Operation Choke Point responsible for Square anti-gun policy?
Right. Should not. Just like the government should not give thousands of rifles to Mexican drug cartels as part of something called Operation Fast & Furious. But this is Barack Obama and Eric Holder we’re talking about. Anyways, I digress.
The National Shooting Sports Foundation, the firearms industry trade association, cheered the House’s vote.
“We are deeply appreciative of Congressman Luetkemeyer’s perseverance and commitment to end ‘Operation Choke Point’ once and for all,” said Lawrence G. Keane, Senior Vice President and General Counsel for the NSSF.
“Congressman Luetkemeyer recognized the essential unfairness and abuse of power inherent in the overreach of the federal financial services regulators involved,” continued Keane. “We respect the right of financial institutions to make business decisions based on objective criteria. It is unacceptable, however, to discriminate against businesses simply because they are engaged in the lawful commerce of firearms, an activity protected by the Second Amendment.”
The bill now heads to a Senate committee for consideration. Hopefully it’s greeted with the same bipartisan support.
….OBozo the Muslim Traitor…….., the Worst President in American History!!,…Elected by Uninformed Fools and Enemies of America!!…..
He was elected buy white fools who thought by electing Obama, that would be repatriation for the slavery our four fathers inflicted on the black man over 300 years ago, and also to prove that there is no more prejudice in the United States. Both reasons make anyone who lived through 8 years of Obama want to throw up. Obama set race relations back to the stone age and he single handedly did more damage to this country than all Democratic Presidents combined. We may never recover the damage this, coke smokeing ,golf playing, party hardy, race baiting, vacation taking, unconstitutional executive order writeing, sorry excuse for a Black President we ever had.
It’s a great idea, but the bill won’t make it to the presidents desk for signing this year. The Rino’s can all sign it and pass it but it will die in commitee. Then they can blame it on the Dems .Smart little buggers aren’t they?
“The bill now heads to a Senate committee for consideration. Hopefully it’s greeted with the same bipartisan support.”
Elizabeth Warren can’t even be monopartisan – she basically called Kirsten Gillibrand a “slut” the other day in a press release. Bipartisanship on gun control? In the Senate? Nope. Won’t happen, even in a Franken-less Senate. Given that Susan Collins may be wobbly, the best we can hope for is a 50-50 split and that Pence will cast the vote for the Senate version of the bill.
With this kind of bipartisan support why in the heck didn’t they pass this while the tyrant was in office?
“This week, by a vote 395 to 2, the House passed the Financial Institution Customer Protection Act (H.R. 2706).”
Obamarama would have vetoed the bill – that\’s why.
Not only would Obama have vetoed the bill, but I’m sure Holder and Lynch had the FBI compile one of those Bankers Boxes full of dirt on key House leaders to keep them from even caucusing on the bill. Two “nays” and 37 abstentions (I’m assuming Conyers has already hit the bricks), though, isn’t bad. Got to love the NRA.