1. I A I N M U R R A Y , C O M P E T I T I V E E N T E R P R I S E I N S T I T U T E
OPERATION CHOKE
POINT
2. WHAT IS OPERATION CHOKE POINT?
• Initiative by the Department of Justice
• Aimed at “choking off” financial oxygen of
disfavored businesses
• Operates by regulatory intimidation
• DoJ working with FDIC, OCC, and even the Post
Office
4. CASE STUDY: BRIAN LYNN
• Former Marine Corps officer, MBA from University of
Florida
• Runs Speedy Cash and Lending Bear stores in
Florida, Alabama, and Georgia
• Bank of America closed 9 accounts in June 2014
• Letter read “We take a proactive approach to
reviewing our customers’ accounts. After careful
consideration, we’ve decided to close your existing
Small Business account(s) on August 25, 2014 based
on the nature of your business and associated risks.”
• Twenty other banks refused to open new accounts
5. HOW CAN WE FIGHT BACK?
• Speak up on behalf of constituents who have been
affected by Choke Point
• Hold hearings on the effect of Choke Point in your
state, allowing victims to make their ordeals public
• Work with state banking regulators to assure banks
that they have nothing to fear from working with
legal businesses
6. FOLLOW UP
• Happy to send you a copy of my report, “Operation
Choke Point: What it is and why it matters.”
• Email: iain.murray@cei.org
• Twitter: @ismurray
• Thanks for listening!
