Operation Chokepoint 2.0 refers to alleged discrimination by banks against industries and individuals based on political or religious beliefs. Trump has claimed personal experiences of debanking by both JP Morgan Chase and Bank of America. The comptroller of the currency stated that discrimination by banks is unacceptable and plans to take action to ensure equitable access to financial services. The behavior of banks has influenced the Trump family’s interest in cryptocurrency as a means to establish a parallel financial system.
Carter termed this alleged discrimination campaign Operation Chokepoint 2.0, in reference to an Obama-era antifraud program under which US officials reportedly discouraged banks from dealing with pornography, payday lending, and other disfavored industries.
It is unacceptable for banks to discriminate against customers or prospective customers based on political or religious beliefs. I intend to assess the size and scope of this problem and take appropriate action to depoliticize the federal banking system.
Both Bank of America and JP Morgan Chase, he alleged, have previously either withdrawn accounts or refused to accept his deposits. "The banks discriminated against me very badly," Trump claimed.
According to Donald Trump Jr., the banks' behavior helped to awaken the Trump family to the supposed promise of crypto, as the basis for a parallel financial system in which everybody has custody over their own funds.
#banking-discrimination #operation-chokepoint-20 #cryptocurrency #2014-presidential-election #financial-access
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