Thursday, March 26, 2015

Republicans Object To Tighter Regulations On Shady Businesses


Today's Fox and Friends segment with the Doocy, tries to rile up their gun-crazed audience over the feds cracking down on the banking practices of these unsavory businesses that are often fronts for money-launderers.
"This is a very clever way to get around the Second Amendment,"
claims Wisconsin Congressman Sean Duffy (R). Remember Pretty Boy Duffy? The guy who bitched and moaned about his paltry $174,000 per annum salary? He's beyond livid that some of the death merchants, a.k.a. "gun dealers" in his district are facing scrutiny by the D.O.J.'s Operation Choke Point.
What is Operation Choke Point? (It) is a federal initiative that aims to crack down on fraud by honing in on banks and payment processors—the companies that serve as middlemen between merchants and banks on credit card transactions. Financial institutions are not supposed to do business with companies they believe might be breaking the law. But Justice Department officials suspect that some payment processors ignore signs of fraud—like high percentages of transactions being rejected as unauthorized—in transactions they process, and banks go along for the ride, earning massive profits. READ MORE

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