DOJ accused of blocking legal gun shops from banking
Jan 15, 2015 21:24:07 GMT -6
727sky and searching411 like this
Post by Deleted on Jan 15, 2015 21:24:07 GMT -6
A small gun shop in northern Wisconsin called Hawkins Guns was told in November, just before one of the peak selling times, that his account with a local credit union needed to be closed
Huh, anyone heard of Operation Choke Point?
(nice name BTW)
Sounds like being a bully to me
Rep. Sean Duffy, R-Wis., said Operation Choke Point began as a means of combating fraudulent businesses -- but evolved into an arbitrary list of businesses targeted by bureaucrats in the DOJ and banking regulators purely on moral grounds, backed by no legislation
"What they've done is they put short-term lenders out of business, gun dealers out of business, ammunition manufacturers out of business. Because in America, if you can't bank, you can't do business," Duffy said.
Brian Wise, with the U.S. Consumer Coalition, says there are hundreds and even thousands of businesses across the nation who have had bank accounts closed, and they may not even know their bank was intimidated by Operation Choke Point. "This is one of the greatest abuses of power that the country has never heard of," Wise said.
Luckily, many of these business owners have found another bank to do business with, of course not knowing if they are on borrowed time or not
SOURCE
"The bank manager said they made a mistake, and they were not supposed to open accounts for those people involved in high-risk industries, which the gun industry and ammunition industry is one of those," Schuetz said.
It turned out there was a list created by a Justice Department program called Operation Choke Point. The list equates legal gun sellers like Schuetz with escort services, Ponzi schemes, people who sell cable TV de-scramblers -- and at least 30 other industries.
It turned out there was a list created by a Justice Department program called Operation Choke Point. The list equates legal gun sellers like Schuetz with escort services, Ponzi schemes, people who sell cable TV de-scramblers -- and at least 30 other industries.
Huh, anyone heard of Operation Choke Point?
(nice name BTW)
The program, which is facing tough questions in Congress, intimidates banks with the threat of heightened scrutiny and increased audits if accounts are maintained in those industries.
Sounds like being a bully to me
Rep. Sean Duffy, R-Wis., said Operation Choke Point began as a means of combating fraudulent businesses -- but evolved into an arbitrary list of businesses targeted by bureaucrats in the DOJ and banking regulators purely on moral grounds, backed by no legislation
"What they've done is they put short-term lenders out of business, gun dealers out of business, ammunition manufacturers out of business. Because in America, if you can't bank, you can't do business," Duffy said.
Fox News found several more businesses -- from payment processors to ammunition dealers to pawn shop owners to short-term lenders -- who all had their bank accounts closed. In response to an inquiry from Fox News, a spokesman for the DOJ wrote, "We do not target businesses operating within the bounds of the law, and we have no interest in pursuing or discouraging lawful conduct."
Duffy said, "That's a bald-faced lie."
Duffy said, "That's a bald-faced lie."
Brian Wise, with the U.S. Consumer Coalition, says there are hundreds and even thousands of businesses across the nation who have had bank accounts closed, and they may not even know their bank was intimidated by Operation Choke Point. "This is one of the greatest abuses of power that the country has never heard of," Wise said.
Luckily, many of these business owners have found another bank to do business with, of course not knowing if they are on borrowed time or not
SOURCE
