Rumors of Operation Choke Point’s Demise Exaggerated

While the FDIC may be seeking to distance itself from Operation Choke Point, it doesn't appear that the initiative to choke off from the legitimate banking system lines of businesses deemed undesirable by the government is going away anytime soon. Early Warning, a fraud prevention company owned by several large banks, is cutting off lenders that charge high interest rates at the request of its owners "as well as various regulators." [2/23/15]