Greater transparency from all financial regulators could result from a congressional probe involving the payday lending industry's fight with the FDIC, credit union industry attorneys said.
The House Committee on Oversight and Government Reform has issued a report on Operation Choke Point, a Justice Department effort that involved banking regulators trying to cut off access to bank accounts and loans for businesses deemed to be high risk, including payday lenders.
That was supposed to force them out of business, critics said, and that industry's largest trade group has sued.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
