Republicans ask Trump to end Operation Choke Point fraud initiative

Republican congressional leaders called on Trump administration regulators Thursday to formally announce the end of Operation Choke Point by the end of the month, to reassure businesses affected by the Obama-era initiative to weed out fraud and money laundering in the financial sector.

Reps. Bob Goodlatte of Virginia and Jeb Hensarling of Texas, the chairmen of the House Judiciary and Financial Services committees, respectively, called on Attorney General Jeff Sessions and banking regulators to make an official statement declaring that they will no longer scrutinize banks for transacting with payday lenders and other businesses targeted as part of the initiative.