Political Quotes

“I thank Mr. Luetkemeyer. I supported the original intent of Operation Choke Point, which sought to restrict online payday lenders, usually operating from overseas, from lending in States that prohibit payday lending, but the program expanded and is now being pushed well beyond its stated objective. Eliminating fraud and illegal transactions from our Nation's payment system should continue to be a priority for the Department of Justice and other Federal regulators, but employing a ``dragnet'' on companies engaged in legitimate business activities is wrong. State banking commissioners have also expressed concerns the Federal agencies are attempting to deny essential banking services to lawful State-licensed firms. Operation Choke Point pressures banks to close accounts and stop processing payments for those businesses that pose a reputational risk. What is happening here is this approach, this dragnet approach, causes a chilling effect on legitimate businesses and legitimate banking services. As a consequence, going after bad guys, the Department of Justice needs to do that, but not in such a broad, all- inclusive way to chill legitimate business. That is why I support this amendment, and ask for an ``aye'' vote.”