There is now some evidence that the DOJ is putting pressure on banks to stop doing business with what it considers questionable businesses. Small problem. These are legal businesses.
Under “Operation Choke Point,” the DOJ and its allies are going after legal but subjectively undesirable business ventures by pressuing banks to terminate their bank accounts or refuse their business. The very premise is clearly chillingâ€”the DOJ is coercing private businesses in an attempt to centrally engineer the American marketplace based on it’s own politically biased moral judgements. Targeted business categories so far have included payday lenders, ammunition sales, dating services, purveyors of drug paraphernalia, and online gambling sites.
“Operation Chokepoint is flooding payments companies that provide processing service to those industries with subpoenas, civil investigative demands, and other burdensome and costly legal demands,” wrote Jason Oxman, CEO of the Electronic Transactions Association, at The Hill.
I have no love for payday lenders. I think they have absolutely usurious rates of interest for their customers. That said, they are a legal business. Same goes with drug paraphernalia. Legal business that somone(s) decided to use the force of the government to destroy.
Yeah, but they’re just doing it to bad businesses like porn actors, bong sellers, and payday lenders. Really? Did you see the reference to ammunition sales? Do you really think that Operation Choke Point wouldn’t be used against firearms businesses? Businesses run by “hate groups” like Hobby Lobby or Chik-Fil-A?