Luetkemeyer: “Operation Choke Point is fundamentally unfair to the banks and to the legal businesses that find their banking services…”

the American people are, indeed, angry. And they have a right to be angry.

This has to stop. ... It is going to be a direct cost to the consumers, and it is going to hurt the small banks especially.

The concern that we have, though, is that there is a rubber stamp effect with FSOC with regards to insurance SIFIs.

For the last several years it has been a regulatory onslaught for them, and part of it is banking regulation, which makes it difficult to get access to credit.