Commentary: Congress Shouldn’t Let ‘Operation Choke Point’ Return to Tennessee

On January 29, the U.S. Congress’ Committee on Financial Services will hold a hearing on whether the Office of the Comptroller of the Currency (OCC) is undermining the effectiveness of the Community Reinvestment Act (CRA), which helps low- and moderate-income communities secure loans. At this hearing, it is critical that Members of Congress speak out against the decisionmakers who have thus far ignored the renaissance of Operation Choke Point throughout the country. The resurrection of this practice, sometimes referred to as biased banking, violates both the CRA and official OCC policy, and, if not stopped soon, will have severe ramifications for Memphis and the State of Tennessee at large.

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