Operation Choke Point

Good news for the Payday Loan Industry, in case you have not heard.  The Trump Administration ended Operation Choke Point, a program under the Obama administration that caused banks to stop working with customers in the Payday Loan Industry.  This resulted in many of our clients no longer being able to take debit and credit cards for payments.  We are hopeful that the difficulty in taking debit cards will be something left in the past.  Read more about the end of Operation Choke Point in the following article:

https://www.ocregister.com/2017/09/03/operation-choke-point-is-finally-suffocated/

 

One Reply to “Operation Choke Point”

  1. Great article on Operation Choke Point. This is headed in the right direction. I want to add that Advance America is still pursuing this matter in the courts system (Advance America v. F.D.I.C., 257 F.Supp.3d 56 (2017)). They want to ensure that when there’s a change in administration, legal businesses will not find themselves without a bank account again.