INTERNET MARKETING

 
INTERNET MARKETING

25 Ways to Save $250 (or More) Monthly That Most Business Owners Are Ignoring
Why organizations should give employees more say in when, where and how they work
3 Awesome Tips for Turning Business Weaknesses To Strengths
States With No Corporate Income Tax Rate
Ohio
Nevada
South Dakota
Texas
Washington
Wyoming
Key Economic Indicators
Item Rate
CPI: 0.0% (Jun 2017) 
GDP Growth: 1.2% (1st Qtr 2017)
Prime Interest Rate: 4.25%
Consumer Confidence: 118.9% (Jun 2017)
Small Biz Confidence: 103.6% (Jun 2017)
Avg Gas Price: $2.25






























































 

 

 

 

 

 

SMALL BUSINESS NEWS

15 Dec 2014

 

Email this page    

 

Operation Choke Point

 

A new bill (H.R.4986) is makign it’s way through congress that would end the practice by the Justice Department called “Operation Choke Point”.  The Justice Department used the Finaicial Institutions Reform, Recovery and Enforcement Act of 1989 to target businesses that it deemed to be violating the law by forcing payment processors to stop processing their payments.

As a result legitimate businesses that accept credit card payments find themselves no longer to accept payments from their customers.  These businesses were targeted without due process.  They were never notified by the Justice Department that they’ve violated any laws and hence were never givent he chance to defend themselves in a court of law.

To address this problem H.R.4986 was introduced in Congress.  It is called “end Operation Choke Point Act of 2014.  This act amends the Federal Deposit Insurance Act, the Federal Credit Union Act, the USA PATRIOT Act and the Financial Institutions Reform, Recovery and Enforcement Act of 1989.  The act would prohibit financial institutions from denying payment processing services to legitimate businesses and requires the Attorney General to obtain a court order before attempting to prohibit any business form getting their payments processed. 

Sources:
Finaicial Institutions Reform, Recovery and Enforcement Act of 1989
H.R.4986 End of Operation Choke Point Act of 2014

 


By Jack Rivers

 

 

 

 

 

 

 

 

 

 
 

 

  
 

INTERNET MARKETING

News Home

SBZ Home

 

  

     

                  Report broken links               Contact us              About us           Become a Contributor to this site            Link Exchange 

© 2012-2015 The Small Business Zone, Inc.  All rights reserved.