Congressman Darrell Issa (R-CA), Chairman of the House Oversight and Government Reform Committee, and Congressman Jim Jordan (R-OH), Chairman of the Economic Growth Subcommittee, sent a harsh letter to Attorney General Holder Wednesday accusing the Department of Justice of abusing its power and intimidating banks through its “Operation Choke Point.”
In the letter, Issa and Jordan stated, “[t]he [House Oversight and Government Reform] Committee is concerned that both the goal and mechanisms of Operation Choke Point may constitute a serious mismanagement and abuse of the Department’s FIRREA [Financial Institution Reform and Recovery Act of 1989] authority.”
Breitbart News broke the story Wednesday morning that the Obama administration launched ‘Operation Choke Point’ out of the Department of Justice in 2013 for the express purpose of destroying three key sectors of the private lending industry: third party payment processors (“TPPPs”), online lenders, and payday lenders.
Issa and Jordan requested that the Department of Justice turn over to the House Oversight and Government Reform Committee “[a]ll documents and communications since January 1, 2011 referring or relating to ‘Operation Choke Point'” by January 22, 2014.
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