Blog Home

Operation Choke Point: The Government's Covert War on Small Business

Operation Choke Point: The Government's Covert War on Small Business

Banks are sending notices of account closure out to small businesses across the country, to clients they've done business with for years, even decades. The reason? They often don't provide one.

But a growing number of business owners believe they know why they're being cut off from the financial system. It's Operation Choke Point, ostensibly an attempt to crack down on fraudulent businesses, but in reality a dragnet that has ensnared innocent entrepreneurs unfairly classified as "high-risk" players.

Earlier this year, FDIC chairman Martin Gruenberg told Congress that Choke Point was over, but many business owners believe the FDIC and DOJ has passed enforcement duties along to a newly created independent agency: the Consumer Financial Protection Bureau (CFPB), the brainchild of progressive senator Elizabeth Warren (D-Mass.). The CFPB operates under the guidance of the Federal Reserve and doesn't rely on Congress for funding, which critics say allow it to operate without any meaningful checks on its power.

Reason TV profiled two business owners who believe they've been targets of Choke Point and its legacy: a payday lender in Southern California and a hookah seller in North Carolina. Brian Wise of the U.S. Consumer Coalition, an organization that's been compiling Choke Point stories from across the nation, also appears in the video.


Watch the video above for a deeper look into the covert financial regulation affecting small businesses across the nation.


Approximately 10 minutes. Produced by Zach Weissmueller. Camera by Alex Manning, Josh Swain, Todd Krainin, and Weissmueller. Music by Podington Bear and Chris Zabriskie.



Visit http://reason.com/reasontv for downloadable versions of this video.

California Scheming; Fraud of the Century
Why I Hate School But Love Education

Related Posts

 

Comments (6)

  1. susan richard

What is really happening around the world right now is really frustrating, the leaders of the Countries has become stagnant and acts inappropriate. I hope they come into their senses and do the things that needs to be done. Stop corruption or...

What is really happening around the world right now is really frustrating, the leaders of the Countries has become stagnant and acts inappropriate. I hope they come into their senses and do the things that needs to be done. Stop corruption or else we'll end up like the ones from assignment writing services whose economy fluttered because of being irresponsible.

Read More
  Attachments
 
  1. replica watches

One of the most representative replica watches of the brand is the ship, directly press the button on the case, you can easily replica watches uk remove the original strap, according to rolex replica their own preferences and size, to buy the...

One of the most representative replica watches of the brand is the ship, directly press the button on the case, you can easily replica watches uk remove the original strap, according to rolex replica their own preferences and size, to buy the appropriate swiss replica watches style of the strap replaced. As well as Montblanc Po Xi female form, there is a convenient replacement strap device.

Read More
  Attachments
 

What is truly occurring the world over right now is truly baffling, the pioneers of the Countries has turned out to be stagnant and acts unseemly. I trust they come into their faculties and do the things that should be finished. Stop defilement...

What is truly occurring the world over right now is truly baffling, the pioneers of the Countries has turned out to be stagnant and acts unseemly. I trust they come into their faculties and do the things that should be finished. Stop defilement or else we'll wind up Research Paper Writing Services like the ones from whose economy rippled due to being untrustworthy.

Read More
  Attachments
 
  1. davison

What an excellent post is it. I really impressed by your work and appreciate your efforts that you have made to create this great pots. Keep this great work up. discounted plumbers spokane wa

  Attachments
 
  1. Rey

The government's secret mystery war against small business named "Operation Choke Point is uncovered in this video. The government has been training banks to close down uk assignment small businesses that are arbitrarily labeled "high risk".

  Attachments
 
  1. Rollins Jack

Election season or not, you can simply rely upon legislators to discuss how important small businesses are to the economy. Incidentally, it's these same politicians who often pass enactment that makes it harder and Write my Assignment for Me all...

Election season or not, you can simply rely upon legislators to discuss how important small businesses are to the economy. Incidentally, it's these same politicians who often pass enactment that makes it harder and Write my Assignment for Me all the more expensive to work together. In New York, for instance, organizations are scrambling to conform to the Wage Theft Prevention Act (for additional on this crazy weight on organizations see this current article).

Read More
  Attachments
 
There are no comments posted here yet

Leave your comments

Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location

This organization operates on donations from users like you. We thank you for contributing.

Wait a minute, while we are rendering the calendar

Thank You

This organization operates on donations from users like you. We thank you for contributing.