#business #regulations
“Mr. Biden’s Operation Choke Point 2.0 would solidify what most right-of-center Americans already know: Instead of unity, Democrats want some businesses and people choked from everyday life”— Paul Ebeling
The Biden Administration is resurrecting an effort that the Hussein Obama-Biden administration dubbed Operation Choke Point, which used the banking industry to target businesses opposed by the political left, such as gun sellers and pawnshops, by refusing them service.
In Y 2017 under President Trump, the DOJ declared the program “formally over,” and at the end of Trump’s term, the Office of the Comptroller of the Currency established the Fair Access rule to solidify its being abolished.
But, hang on, Saturday I learned that the program is back after the OCC announced it was pausing the ‘Trump Rule‘.
Under Operation Choke Point, federal regulators instructed banks to discriminate against entire industries the Hussein Obama-Biden administration found objectionable.
The Trump Rule had put a stop to that, stating that banks “should conduct risk assessments of individual customers, rather than make broad-based decisions affecting whole categories or classes of customers, when providing access to services, capital, and credit.”
Operation Choke Point bypassed public input and the legislative process, leaving politically unpopular individuals and businesses to fend for themselves against the White House.
If Mr. Biden’s reversal of the Trump Rule is any sign, the next 4 yrs will not be about unifying the country to ‘Build Back Better‘. It will be about choking conservatives across the board.
Have a healthy weekend, Keep the Faith!
