Why not learn more about Resources?

February 4, 2018

Financial

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Procedure of Choke Point Unfairness by Andrew Phillips Cardflex

In 2013, a new law was made in the United States of America called the operation choke point that was intended to make sure that the consumers were not exploited by using government agencies to discourage the banks from doing business with the listed ones. The program was made to choke out, as the name depicts, the businesses that were referred to as the “high risk”. There are so many businesses that were choked and among them were the guns businesses that are actually legal.

Not only did the law affect the businesses alone, it also had some financial organizations like the Andrew Philips Cardflex cornered due to some allegations that they had done business with a listed company. The law is there to make everyone equal and so when it is exploiting one at the expense of another like the people in the listed business, Andrew Phillips Cardflex becomes an unfair law. As was expected, this was met by a lot of resistance by congress who were trying to put an end to this “operation “until it was allegedly over.

The gun shops and other businesses were receiving notices from their respective banks that they will not be able to work with them. These notices were a result of the government using its agencies to force the banks and other organizations to terminate their good and long term relationships with their customers. Some, like the Andrew Phillips Cardflex were sued for allegedly helping a listed company to steal from the consumers accounts. When you get a notice from your bank then you have no other option than to make other financial arrangements that will not only inconvenience you, but also cost you. Both the financial organizations and the listed businesses are set to incur losses. The losses due to restricted business relations are inevitable.

Apart from people losing their businesses that they use to feed their families, they are being dragged to court due to this law. Anyone who has been in court will tell you that the financial burden that comes with them are usually unbearable. As much as it is believed to have been ended, the business people are still feeling the effect of this unfair law. Such law that exploit others at the expense of others is against the core purpose of the government. Consider the affected people. Andrew Phillips Cardflex is a law that should be forgotten because it is outdated because fairness should always be a priority.