News & Analysis as of

Choke Point Office of the Comptroller of the Currency

Manatt, Phelps & Phillips, LLP

Operation Choke Point Lawsuit Comes to an End

Putting an end to a 2014 lawsuit filed by payday lenders challenging the actions of federal regulators in Operation Choke Point, the Federal Deposit Insurance Corporation (FDIC) announced a resolution to the action....more

Manatt, Phelps & Phillips, LLP

FDIC: Providing Accounts and Other Services to Payday Lenders Is OK

Why it matters - Some bank vendors may cautiously smile when the FDIC makes a point that providing accounts and other services to payday lenders is fine, the Federal Deposit Insurance Corporation (FDIC) told banks by...more

Manatt, Phelps & Phillips, LLP

Mixed Ruling in Suit Challenging Operation Choke Point

Why it matters - A D.C. federal court judge issued a mixed ruling in a suit brought on behalf of payday lenders against the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors, and the...more

Ballard Spahr LLP

House Republicans ask CFPB and banking agencies to disclaim “Operation Choke Point”

Ballard Spahr LLP on

Six Republican members of the House Financial Services Committee, including Chairman Jeb Hensarling, have sent identical letters to the CFPB, OCC, Fed and NCUA asking each agency to “publicly disclaim [its] past, present, and...more

Ballard Spahr LLP

‘Operation Choke Point’ under Fire

Ballard Spahr LLP on

"Operation Choke Point," the coordinated multiagency federal effort to choke off banking services to alleged fraudsters (according to its defenders) or politically unpopular industries (according to its detractors), has come...more

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