According to an NSSF release, it appears that Congressional and retail group pressure had created a crack in the Obama administration’s effort to strangle firearms businesses of necessary capital:
In a major development concerning NSSF’s leadership to halt discrimination in the provision of financial services and products to firearms related businesses due to “Operation Choke Point”, the top officials of the Federal Deposit Insurance Corporation (FDIC) on Wednesday admitted wrongdoing and said they would cease practices that had the effect of encouraging such disparate treatment.
U.S. Rep. Blaine Luetkemeyer (R-Mo.) released a statement after a meeting with Federal Deposit Insurance Corporation Chairman Martin Gruenberg and Vice Chairman Tom Hoenig discussing the agency’s involvement in Operation Choke Point.
Today, the Congressman told NSSF, “After a year of mounting pressure from Congress and outside organization like the National Shooting Sports Foundation, top officials from the Federal Deposit Insurance Corporation finally acknowledged their involvement and wrongdoing in Operation Choke Point. While I am very pleased the FDIC will put in place new polices and change the culture at the agency, there is still work to be done, specifically with the Department of Justice. I am pleased the National Shooting Sports Foundation supports my legislation, the Financial Institution Customer Protection Act, and I have no doubt the foundation will remain steadfast in educating its members and continuing the fight in ending Operation Choke Point once and for all.”
The FDIC’s important admission immediately received the attention of the Heritage Foundation’s Daily Signal, which filed this comprehensive story by news producer Kelsey Harkness.
While great news, the sudden capitulation is indicative of the administration simply changing tactics.