Specific Examples: Damage by Operation Choke Point to PDL's
Published: Sat, 08/09/14
You gotta read David's testimony!!!!!!!
STATEMENT OF DAVID H. THOMPSON
Managing Partner, Cooper & Kirk, PLLC
Before the U.S. House Committee on the Judiciary,
Subcommittee on Regulatory Reform, Commercial and Antitrust Law
Concerning "Guilty until Proven Innocent?
A Study of the Propriety & Legal Authority for the Justice
Department's Operation Choke Point"
July 17, 2014 http://paydayloanindustryblog.com/?p=2866
"I will offer a few examples of the damage that Operation
Choke Point has already done to the short-term credit industry. One
lender, Advance America, has lost longstanding and positive
business relationships with at least nine banks as a result of
Operation Choke Point. Hancock Bank and Whitney Bankinformed
Advance America of their intention to close its accounts on the
ground that they were "unable to effectively manage [the
lenders'] Account(s) on a level consistent with the heightened
scrutiny required by [their] regulators . . . ." Fifth Third
Bank wrote that it would stop doing business with short-term credit
providers altogether on the ground that..."
Get access to this piece here:
http://paydayloanindustryblog.com/?p=2866
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