[Fourth Branch] The Financial Frontier: Financial Freedom, Payday Lending, & “Operation Choke Point”

In 2013, the U.S. Department of Justice decided to investigate banks across the country, looking into the business they did with payday lenders. While payday loans are controversial, they are legal in most circumstances. Proponents of this campaign celebrate the push as crucial for consumer protection. Critics claim it sets a dangerous precedent by unfairly targeting lawful businesses. Jamie Fulmer (Advance America), Chris Peterson (The University of Utah), and Brian Knight (Mercatus Center) explore the questions behind “Operation Choke Point”.

A Fourth Branch video in association with Motivo Media.

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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speakers.

Differing Views:

Free Lunch Podcast: “Heimlich Maneuver on Operation Choke Point?”

“Newly Unsealed Documents Show Top FDIC Officials Running Operation Choke Point”

“The FDIC’s Role in Operation Choke Point and Supervisory Approach to Institutions that Conducted Business with Merchants Associated with High-Risk Activities”

“Why Payday Loans and Cash Advances Are So Bad”

“Payday Lending Faces Tough New Restrictions by Consumer Agency”



Jamie Fulmer
Senior Vice President of Public Affairs, Advance America


Chris Peterson
John J. Flynn Endowed Professor of Law, University of Utah’s S.J. Quinney College of Law
Director of Financial Services and Senior Fellow, Consumer Federation of America


Brian Knight
Director of Innovation and Governance and Senior Research Fellow, Mercatus Center, George Mason University


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