It was called Operation Choke Point — an Obama-era initiative specifically aimed at politically unpopular, but perfectly legal businesses that liberals didn’t appreciate.
To some commentators, like Forbes contributor Norbert Michel, it was “an egregious affront to the rule of law.” Little surprise, then, that the Biden administration did away with a rule intended to prevent it.
For the unfamiliar, Operation Choke Point was designed as a way to choke off firearms dealers and payday lenders through Federal Deposit Insurance Corporation guidance that amounted to strong-arm tactics.
During his term in office, former President Donald Trump ended the operation, which had begun in 2013. In January, as the Trump administration was on its way out, it issued the “Fair Access Rule,” which was designed to preclude another such round of intimidation. The rule said “banks should conduct risk assessment of individual customers, rather than make broad-based decisions affecting whole categories