Marino Backs Legislation to Halt DOJ’s Operation Choke Point
Washington D.C.—Congressman Tom Marino (PA-10) issued the following statement after voting in favor of H.R. 766 - the Financial Institution Customer Protection Act, a bill that would prohibit the Department of Justice (DOJ) from severing banking activity between businesses and financial institutions:
“President Obama has demonstrated on a remarkably consistent basis that he favors an economic model by which he and his bureaucratic henchmen work determine which businesses succeed and fail. In the case of Operation Choke Point, he directed the DOJ to target certain industries, such as firearms manufacturers or tobacco merchants, and sever their access to the financial system.
I find this kind of practice to not only be uniquely un-American but outright dangerous. It is not up to the President or the federal government to determine which law-abiding businesses are allowed to compete and/or gain an advantage in the marketplace. That is not how our economy was founded and that is not what allowed American businesses to fuel the most successful economic engine in world history.”
This legislation ends the practice of federal coercion in the marketplace and requires greater Congressional oversight. It also strips federal regulators of subpoena power and requires detailed explanations of any further inquiries into the relationships between businesses and banking institutions. The House passed this legislation with bipartisan support by a vote of 250-169.