USCC Applauds Issa for Operation Choke Point FDIC Investigation

posted June 10, 2014

WASHINGTON, D.C. – House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.) yesterday sent a letter to FDIC Chairman Martin J. Gruenberg requesting documents pertaining to FDIC’s participation in Operation Choke Point. The letter stated that the Committee has evidence that through “coordinated actions by the FDIC and the Department of Justice,” these federal agencies were pressuring banks to cut off relationships with legal businesses.

The U.S. Consumer Coalition (USCC) issued the following statement:

“USCC applauds Chairman Issa and his committee for tenaciously fighting to stop the illegal activities of Operation Choke Point. The expansion of this investigation demonstrates that Operation Choke Point is not just the product of one rogue agency — rather, the program is a coordinated effort by multiple agencies in the Administration to take down lawful industries. USCC will continue to fight for the rights of consumers and the free market and to stop Operation Choke Point.”

Issa’s letter stated that the Congressional testimony of FDIC’s Acting General Counsel Richard J. Osterman, which denied the agency’s involvement in Operation Choke Point, contradicted evidence submitted to the Committee by the Department of Justice. Chairman Issa requested that the FDIC submit all pertinent documents by June 23, 2014.

The United States Consumer Coalition, a leading voice in the effort to stop Operation Choke Point, has experts available to speak to media about this program and the threat it poses to industries, consumers, and the economic vitality of America.