It’s been a decade since most Americans heard about “Operation Choke Point,” the Barack Obama administration’s effort to target politically disfavored businesses and their customers by forcing banks to close their accounts.
Yet, the dangerous legacy of this controversial policy has lingered because of secrecy laws that effectively prevent banks from telling their customers why they were “de-banked” and incredibly cumbersome bank examination rules that rival the worst audit procedures the IRS could dream of foisting on taxpayers.
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