Complete Story
07/17/2014
ICBA Reiterating Support for Reining in DOJ’s Operation Choke Point
| ICBA today is reiterating its support for legislation to rein in the Justice Department’s Operation Choke Point initiative. In a statement for the record for today’s House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law hearing, ICBA is advocating the End Operation Choke Point Act of 2014 (H.R. 4986). In its written statement, ICBA notes that the legislation, introduced by Rep. Blaine Luetkemeyer (R-Mo.), would preserve the ability of banks to serve legal and legitimate business customers without undue pressure from law enforcement or examiners. The measure would clarify responsibilities of cooperation between banks and law enforcement in cases of financial fraud, promote direct prosecution of fraudsters, preserve access to banking services for legal businesses, rein in the DOJ’s abusive use of subpoena authority, and create a safe harbor for banks serving businesses that meet specific criteria. ICBA expressed its support for the legislation earlier this week in testimony before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit and in a separate statement for a House Financial Services Subcommittee on Oversight and Investigations hearing. |
 |
