https://www.youtube.com/watch?v=46Am7qFf16c#t=39
Operation Choke Point is an unconstutional backdoor way of closing otherwise legal companies by cutting off their access to the banking system and capital. If they can’t deposit their revenue in a bank account or accept credit card payments they are effectively shut down.
There are three problems with Operation Choke Point. The first is procedural. The President, through the DOJ, the FDIC, and the new Consumer Financial Protection Bureau, implemented new regulations without Congress passing any law or even being informed of what was going on. This executive action was an end run around the legislative process and it prevented any type of public discussion or input on it.
h/t Tom R
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