Choked Out: Operation Choke Point seeks to eliminate financial services for “high risk” businesses
12/05/14
Since early 2013, the United States Department of Justice (“DOJ”) has been formally targeting banks that service a wide range of lawfully operating businesses that it and the Federal Deposit Insurance Corporation (“FDIC”) consider “high risk.” The probe, known as “Operation Choke Point,” was started as an outgrowth of the Financial Fraud Enforcement Taskforce and seeks banks’ assistance in choking off access to the financial services industry by shutting down the bank accounts of high risk businesses.
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Despite FinCEN and Department of Justice Guidance, Difficulties Remain for Financial Institutions Providing Services to Marijuana-Related Businesses
02/05/14
As more States move towards the legalization of marijuana in various forms and to various degrees, marijuana is quickly becoming a growing and profitable industry. Learn More