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Operation Choke Point: Could Lawsuit Ensnare the NCUA?

Payday lenders sue bank regulators over examiners' use of reputation risk designed to shut them out.

By David Morrison | Updated on June 06, 2014

As payday lenders sue banking regulators over Operation Choke Point, one plaintiff said other regulators like the NCUA could potentially be targeted.

“We have named the FDIC, OCC, the Fed, and Thomas Curry as defendants in this litigation because we believe that their backroom pressure and guidance on reputational risk has played the central role in causing banks to terminate long-standing, mutually beneficial relationships with lawful, responsible businesses,” wrote Amy Cantu, communications director for the CFSAA in an email response to a question about whether the litigation could eventually involve NCUA. “Over time, we may find it necessary to add other agencies as defendants,” she added.

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