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Federal Deposit Insurance Corporation › Operation Choke Point

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Ballard Spahr LLP

Should the Financial Industry Be Detecting Future Mass Shooters?

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The United States continues to be plagued by mass shootings, which appear to be increasing in both frequency and lethality.  Certain businesses have reacted by adjusting their business models, such as the recent decision by...more

Manatt, Phelps & Phillips, LLP

Operation Choke Point Lawsuit Comes to an End

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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

Ballard Spahr LLP

FDIC settles Operation Choke Point lawsuit; entire lawsuit dismissed

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The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal  enforcement...more

Morgan Lewis

FDIC Settlement with Payday Lenders Drives (One More) Nail into the Choke Point Coffin

Morgan Lewis on

The latest nail in the coffin for Operation Choke Point was added on May 22 by the Federal Deposit Insurance Corporation (FDIC) when it issued a press release announcing its resolution of a lawsuit against it by several...more

Ballard Spahr LLP

FDIC Hiring Counsel to Investigate Now Defunct Operation Choke Point

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On November 15, 2018, in response to a November 7, 2018 letter from Republican Senators, FDIC Chairman Jelena McWilliams announced that the FDIC has engaged outside counsel to investigate the Obama-era Operation Choke Point,...more

Ballard Spahr LLP

Republican Senators seek action from FDIC to ensure end of Operation Choke Point

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Thirteen Republican Senators have sent a letter to FDIC Chairman Jelena McWilliams urging the FDIC to take action to ensure that lawful businesses are no longer at risk of adverse financial consequences as a result of...more

Williams Mullen

Operation Choke Point: Justice Department Announces Program’s End

Williams Mullen on

This article is part of a continuing series on Operation Choke Point. The first article contains a more detailed overview of the history, origin, and evolution of Operation Choke Point and analyzes a still ongoing lawsuit...more

Holland & Knight LLP

Department of Justice Ends Operation Chokepoint

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The U.S. Department of Justice (DOJ) has quietly ended its four-year effort to prevent banks from providing credit and other services to certain businesses that had been deemed controversial. In an Aug. 16, 2017, letter to...more

Ballard Spahr LLP

D.C. District Court Allows Payday Lenders’ Due Process Claims To Proceed In Case Against “Operation Choke Point”

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On July 5, 2017, the U.S. District Court for the District Columbia, in the lawsuit filed in 2014 challenging “Operation Choke Point” — a federal enforcement initiative involving various agencies, including the Consumer...more

Manatt, Phelps & Phillips, LLP

Payday Lenders Can't Halt Operation Choke Point, Court Rules

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A federal judge in the District of Columbia denied a request for injunctive relief sought by a group of payday lenders allegedly affected by the Department of Justice's (DOJ) controversial Operation Choke Point....more

Goodwin

Financial Services Weekly News - March 2016 #4

Goodwin on

Regulatory Developments - FHA Revises Loan-Level Certification Form - On March 15, the Federal Housing Administration (FHA) announced changes to its loan-level certification form. The changes resulted from concerns...more

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