Posted on 08/26/2014 9:02:54 AM PDT by SeekAndFind
SunTrust Bank is cutting ties with three types of legal businesses in the latest evidence of the Obama administration’s secretive crusade against “objectionable” enterprises.
SunTrust, which counts more than 400,000 small business clients, cited “compliance requirements” as its reason for closing accounts with “payday lenders, pawn shops and dedicated check-cashers.”
“It is consistent with long-standing industry practice to review relationships to ensure they satisfy a range of business and risk considerations,” the bank said in a little-noticed press release dated Aug. 8.
In the same blanket notice, however, SunTrust underlined its support for maintaining bank relationships with licensed gun sellers.
Gun dealers, as The Daily Signal previously reported, are among legal businesses targeted in the Justice Department-coordinated initiative known as Operation Choke Point.
(Excerpt) Read more at dailysignal.com ...
They’re out of line for going after pawn shops.
Gee, let me put on my shocked face.
They’re out of line for going after pawn shops.
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Well, ever since Chumlee made that questionable deal back in 2010.....
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What do all of these things (some perfectly legal, some not) have in common? They are all capable of channeling money outside of easily traceable and trackable paths.
I don’t believe that any further explanation is needed as to the “Why”.
Those businesses thrive in the inner cities and are vital for the poor and unemployed.
What better way to make the pressure cooker even hotter!
This crooked administration hasn’t thought this through. The people most likely to use the services of the payday lenders are Holder’s peeps themselves. What will they do if 0bama cuts off their source of funds?
Oh wait...silly me. That’s what Zero uses unemployment checks, payments for voting democrat and food stamps for. They will get their reparations one way or the other.
“It is consistent with long-standing industry practice to review relationships to ensure they
...lick Obama’s... uh... toes.”
After seeing how successful we were at combating terrorism simply by cutting off the banking access, the DOJ (i.e. Holder) one day realized that they can shut down just about anything they don’t “like” via the same measures.
No trial, suspicion of wrong-doing, or anything messy that leaves a paper trail. Just call the bank and shut them out.
The credit card networks, too.
I think that this also makes it so that only a person with “liquid” wealth can open a new business and finance it if the business falls under this subjective “black list” of bad things. Which further alienates the American Dream from the “lumping proletariat.”
It is long past time to impeach Holder.
I’ve been a loyal SunTrust customer for 16 years, and this is good news; it tells me that they’re listening. I know for a fact that three very large gun dealers in the Tampa Bay area petitioned SunTrust and had the backing of several gun ranges to not capitulate to the anti-gun DoJ, and it seems they listened.
I’m not entirely broken hearted about the pawn dealers, but I completely understand the thought that they shouldn’t be targeting them specifically. Then again, it’s their prerogative to deal with whomever they wish.
Eat your government cheese and quit complaining! Just pull the wood chips out of the cheese. Vote Democrat, and maybe you’ll get some government crackers. You think you got problems? That earthquake in California shook up all my wine! Now, eat your government cheese and quit complaining. Think of those wood chips in the cheese as bonus government toothpicks. Vote Democrat!
But a Christian Bakery doe not have that same right?????
Sorry guys but at some point the double standard does not work legally.
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