Operation Choke point Unfairness by Andrew Phillips Cardflex
The government of the USA in 2013 made a new law that used its agencies to discourage the banks from engaging in business with the “high risk businesses” that were believed to be exploiting the consumers. 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.
The law was not affecting the listed business alone but also those that did business with them and among them was the ISO Andrew Phillips Cardflex whose one of the principles is Andrew Phillips. The unfairness comes in when they are putting some very innocent lawful business people out of business and ruining their source of income. 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. This was because the banks among many other businesses were forced to terminate long term relationships with these listed companies that they had no problem with. A company like the Andrew Phillips Cardflex are in court because they engaged in business with a company that had been listed with the “high risk”. These unfairly targeted businesses that were supposed to be choked out of business had to look for other financial options and we all know that is not easy. This means that neither the “high risk” nor the businesses that are doing any sort of businesses with them are in a good place. 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. The courts are accompanied by lots of fines, bails and even a lot of money that is used to hire lawyers. Andrew Phillips Cardflex all believe that the unfair treatment of the targeted business should have ended by now but that is just some believe we will have to keep hoping that it is actually true. 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 Andrew Phillips Cardflex is a law that should be forgotten because it is outdated because fairness should always be a priority.