Posted on 10/21/2018 10:15:03 AM PDT by E. Pluribus Unum
he Obama administration used government power to target disfavored industries, and subsequently sought to avoid responsibility for its targeting program.
The new information comes from a motion for summary judgement filed in federal court by the plaintiffs in Advance America et al. v. Federal Deposit Insurance Corp. et al.
Advance America, a payday lender, was one of the firms targeted by Operation Choke Point. The company contends—and the documents it filed show—that the FDIC was consciously working to target a totally legal industry, and also at a number of points to deny its involvement in the same work.
Choke Point was an initiative under which the Obama administration tried to shut down disfavored industries by removing their access to payment processing and other banking services, thereby cutting off their financial "oxygen." They did so by applying pressure to third-party banks through the FDIC and other federal financial regulators. Targeted businesses were almost all entirely legal, and included ammunition sales, online gambling, and payday loans.
The FDIC has repeatedly denied that it specifically targeted payday lenders. FDIC chairman Martin Gruenberg told Congress in written testimony that targeting payday lenders was "not consistent with our policy," and claimed that the corporation had taken "a number of significant steps" to discourage targeting firms that were otherwise operating within the law.
However, the new court filings tell a different story.
They go back to late 2010 and early 2011 when, according to a deposition from Chicago Regional FDIC Director Anthony Lowe, the FDIC's leadership in D.C. informed regional chiefs that "if a bank was found to be involved in payday lending, someone was going to be fired." This directive made clear to Lowe and his colleagues that they should exercise their power to make sure that payday lenders could not get access to banks.
(Excerpt) Read more at freebeacon.com ...
There is no penalty for perjury when one is a DemonicRat
Why these people never went to jail is beyond explanation. Further, why the media ignored this illegal behavior to keep Obama in for a second term demonstrates just how corrupt it all is. Clearly, the FBI was to busy bugging private citizens, and harassing political opponents, under Comey to do their JOBS. Totally corrupt government!!
It does have authority over some banks under $10 billion in assets, though, and if Advance America required its storefronts to have an account with such a bank, then that is where this could have impacted.
The penalty is re-election to a higher office.
Hard to name a single agency/department in the Federal Government which has not been weaponized against those who would oppose the Deep State ruling elite {regardless of party}.
0bama and corruption, weaponizing the federal government against people he didn’t like for eight long years.
5.56mm
Because of this, many payday lenders have stopped issuing check advances and went to short-term loans.
The prior administration's actions were at best dubious, but at least Obama, Holder, and Jarrett had the balls to back their misbegotten convictions with action.
I thought Operation Choke Point also targeted banks that did business with arms manufacturing. In any case I hope America has learned not to vote someone into the White House just because of their race or sexuality or gender.
Indeed, not only will the deep state protect Rats in office over perjury, and even out of office, they will softball and look the other way for almost anything else.
Actually, there’s no delegated power for the authority it claims.
Obama and Hillary should be sharing a cell.....
And Holder....and Susan Rice.....and John Kerry........
Bump.
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