AMOA Comments on Operation Choke Point’s End

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“All of the department’s bank investigations conducted as part of Operation Chokepoint are now over, the initiative is no longer in effect, and it will not be undertaken again.”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.

“In recognition of Friday’s announcement, it would not be appropriate, however, to go without acknowledging YOU, our members, for taking the time to provide us with your letters and stories over the past six months. It was quite impactful when AMOA’s GRC chair Emily Dunn and VP Lori Schneider, handed a thick packet of information to key congressional offices back in early June offering proof Operation Choke Point was still alive and well. This information is what ultimately provided AMOA a seat at the round table with top congressional leaders on June 22. In addition, our AMOA member witnesses are to be commended for taking the time to travel to Washington, D.C. and also having the courage to sit down and share their personal story.

“AMOA will continue to work with our members of Congress to ensure the spirit and letter of the D.O.J.’s action is adhered to by banks across the country. Our members deserve no less.”