General Eric Holder's Department of Justice has used its "Operation Choke Point" to manipulate banks and third-party payment processors to drop whole categories of businesses the Obama administration disfavors, such as online arms and ammunition sellers, tobacconists, and payday lenders. Left-wing nonprofit allies of the Administration like the Center for Responsible Lending and Americans for Financial Reform have provided media support.
“This is not law enforcement. It is intimidation backed up by the might of the government.” http://capitalresearch.org/2015/03/operation-choke-point/
Manipulating lending institutions to achieve social ends. Who would have thought? Isn’t that how we got the housing bubble and bust beginning with the Community Reinvestment Act in the 1970s and ending in the Great Recession of 2008? (Actually, it isn’t over; you can still get zero down home loans).
And isn’t that how we’re accumulating mounting college loan debt—to achieve social ends by paying universities through the back door while unprepared students enter through the front? Sallie Mae is like Freddie Mac. Equal opportunity.