Congress targets federal ‘chokehold’ on gun sellers…”Justice scheme likened to ‘old Soviet Union or Venezuela'”
CHERYL CHUMLEY
WND.com
Mar. 24, 2015
Lawmakers on Capitol Hill are taking to task the Federal Deposit Insurance Corporation and its involvement with Operation Choke Point, the federal program that lets banks deny business to outlets that deal in guns and ammunition.
The FDIC is the main agency in charge of regulating the nation’s 4,500 or so banks and financial institutions.
The FDIC is the main agency in charge of regulating the nation’s 4,500 or so banks and financial institutions.
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Critics of the program say it’s an underhanded way of dinging the Second Amendment without having to go through Congress because it hits at the lifeline of certain businesses perceived as unsavory by politicians in power. Specifically, opponents say the feds press financial institutions to abstain from dealing with gun companies, ammunition dealers and the like and in certain cases, cut off their funding and access to services.
Rep. Sean Duffy, R-Wisconsin, in fact, calls the program “the greatest government overreach that no one is talking about,” and is among several on the Financial Services Subcommittee on Oversight and Investigations to demand answers from FDIC chairman Martin Gruenberg, the Daily Signal reported. The panel’s holding a hearing on the program, which filters through the FDIC but is overseen by the Department of Justice.
“The FDIC should send a strong message that it will not tolerate this kind of abuse within the agency,” Duffy told the Daily Signal in an email.
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