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 aim of this program was to make the businesses that were listed as the ones in the high risk of exploiting the consumer run out of business. This was a good move at fast until the fire arms and the ammunition were also categorized as “high risk” among many other businesses that were 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. So since there are people and organizations that are there to protect the defenseless, they started a fight against this law until it was said to end in 2017.
The gun shops and other businesses were receiving notices from their respective banks that they will not be able to work with them. The banks and other financial institutions were forced to end some very long term relations with some of these businesses that had to trouble with for all that time. Some, like the Andrew Phillips Cardflex were sued for allegedly helping a listed company to steal from the consumers accounts. The ones in the business have been unfairly targeted and required to make other finance arrangements which lead to a lot of losses because it is not an easy process. Both the financial organizations and the listed businesses are set to incur losses. The damage that this kind had or will have on the business at large is only imaginable.
This kind of law affect where people get their income and some having to face legal procedure. The ones that have to end up with a case in court like the Andrew Phillips Cardflex lose a lot of time, energy and even financed in the process. The program was ended last year but the businesses are yet to heal if not stop being targeted. The work of the government is to protect the citizens at all cost but that “all cost” should be limited up to where the law hurts other people. Consider the affected people. These kind of regulations should be eliminated because they go against the very core function of laws.