NCUA Does Not Participate in Operation Choke Point
Operation Choke Point, a Justice Department initiative, allows the Financial Fraud Enforcement Task Force to investigate whether financial institutions and payment processing companies are enabling fraudulent activity. In a letter to the House Financial Services Committee, NCUA Chair Debbie Matz wrote that the agency does not dictate to credit unions which accounts they can open as long as the business qualifies for membership. Some credit union leaders may disagree. [4/20/15]
