AMOA Exec. Dir. Lori Schneider, who has been highly active in lobbying for the industry on Capitol Hill, has issued her comment on the Department of Justice’s recent decision to end Operation Choke Point.
Recounting the events leading up to the DOJ’s announcement, Schneider said that after a letter was sent by U.S. Congressmen and Congresswomen (including Blaine Luetkemeyer, Jeb Hensarling, Bob Goodlatte, Tom Marino and Darrell Issa) to multiple Federal agencies asking them to end the program, the DOJ responded positivey, announcing: “All of the department’s bank investigations conducted as part of Operation Chokepoint are now over, the initiative is no longer in effect, and it will not be undertaken again.”
AMOA had this to say about the victory: “Over the last 18 months, many of our members found themselves victim to the government overreach. Through AMOA’s legislative advocacy efforts, led by D.C.-based Dentons, AMOA was represented by two member witnesses at a round table discussion with Representatives Goodlatte, Luetkemeyer and Issa back on June 22 to share the very recent and continuing negative impact the overreach had placed on their businesses.
“While Friday’s announcement provided an opportunity to pause for a momentary sigh of relief, AMOA now calls upon bank regulators, across the country, to heed the D.O.J.’s guidance and work with legitimate cash businesses to ensure access to banking services.