Federal “Operation Choke Point,” A Fresh Look from MHVille


Operation Choke Point was real, and it exceeded legal limits. Overwhelming evidence, in the form of more than 900 pages of newly unsealed” documents were reported by American Banker on Nov 28, 2018.


More recently, the Consumer Finance Monitor said, “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 initiative involving the FDIC, OCC and other federal agencies.  In July 2017, the D.C. federal district court denied the agencies’ motions to dismiss and/or for summary judgment and permitted the plaintiffs’ due process claims to proceed.  Initiated in 2012, Operation Choke Point targeted banks serving online payday lenders and other companies that have raised regulatory or “reputational” concerns.” That per the law-firm behind the website on May 23, 2019.



These documents show that powerful bank regulatory agencies engaged in an effort of intimidation and threats to put legal industries they dislike out of business by denying them access to the banking system,” said the Competitive Enterprise Institute (CEI).




Why raise this topic now, after the system has been ended, and with some litigation involving the matter settled?  Simply put, there are media reports that some 2020 candidates are floating notions that sound eerily similar to what Operation Choke Point did.




The graphic above and below provide some additional insight into the controversial issue.



A few years ago, the conservative site, the Daily Signal created the infographic above, that showcased some of the ‘victims’ of Operation Choke Point.



Why Does This Matter to MHVille?

There are plenty of voices in manufactured housing that have experienced their own version of Operation Choke Point in the form of Dodd-Frank regulations that didn’t apply to realtors but did to manufactured home sellers. 

The weaponization of government to pick winners and losers in what should be a ‘free enterprise system’ is not new.  We are also seeing how mega-corporations can do something similar.

For those who plan to vote in Democratic primaries, and who may go to townhall type events, it would be a good idea to ask the candidates what their view is about picking winners and losers, based upon regulatory strategies apart from even the will of Congress.

That’s today’s last look at “News through the lens of manufactured homes and factory-built housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach for MHProNews.com.
Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. Connect with us on LinkedIn here and here.

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