Firearms Retailers Off ‘Operation Choke Point’ Watch List

Operation Choke Point
Operation Choke Point
National Shooting Sports Foundation
National Shooting Sports Foundation

NEWTOWN, Conn –-(Ammoland.com)-  In a matter closely watched by NSSF, the Federal Deposit Insurance Corp. (FDIC) this week reported that firearms retailers are no longer on a watch list of businesses deemed “high risk” after withdrawing the list it had compiled of businesses that could be considered at higher risk for fraud, without showing any actual violation of law, as part of the Department of Justice's “Operation Choke Point.”

An FDIC spokesman publicly blamed “misunderstandings” and “misinterpretations” and said the agency never meant to prevent banks from conducting transactions or providing services to the types of businesses on its list. Importantly, the agency issued revised guidance that focused on third party payment processors but also noted more broadly that:

“It is the FDIC's policy that insured institutions (banks) that properly manage customer relationships are neither prohibited nor discouraged from providing services to any customer operating in compliance with applicable law.”

As previously reported, NSSF has been closely monitoring U.S. House of Representatives investigations into “Operation Choke Point” and its effects on industry members. Financial Services Oversight Committee staff told NSSF this week that they will seek to ensure the revised FDIC guidance is followed, noting the vast majority of the regulatory workforce is based around the country, not in Washington, so Congress must continue its ongoing oversight.

NSSF will continue to report on developments.

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    TexStanEricTEXLarry R. HerronJames Maxell Recent comment authors
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    TexStan
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    TexStan

    There is no vindication here. The very notion of an “Operation Choke Point” is an abomonation and a restraint of free trade by the “Justice Department”, as if any justice or freedoms still exist in Obama’s Amerika. Where is the outrage from the average citizen?

    Eric
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    Eric

    Yet the Obama administration still refuses to enforce the Law as it is written. All in the name of his socialistic poor society he is creating.

    TEX
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    TEX

    obama and holder dont lie all the time,…only when their mouths are moving ! I dont trust or believe sh*t those son of a bitches say or do !

    Larry R. Herron
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    Larry R. Herron

    Lets hope that this injustice is not repeated. But with Obama at the helm I wouldn’t count of it.

    James Maxell
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    James Maxell

    Time will tell if they a lying again when retailers
    try to process firearm purchases via a credit
    card transaction. I do not trust the current
    Socialist Democrat controlled Government offices
    nor the minions the have put in place in Federal
    offices. Even after they are removed from office we still have to deal with those put put in place to continue their destruction and over
    throw of our Constitutional Republic.

    Chuck
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    Chuck

    And can we believe this or is it just a lie get us off their trail?