U.S. Rep. Blaine Luetkemeyer (MO-03) today met with Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg about the agency’s involvement in Operation Choke Point.

Yesterday, the House Oversight and Government Reform Committee released a report regarding the FDIC’s involvement in Operation Choke Point. Included in the report are more than 7,500 pages of information, including internal memorandum and emails. The information in the report indicates that FDIC staff blatantly targeted specific industries despite FDIC officials reporting to Congress that industries have not been and would not be targeted.

“After reviewing the FDIC report from the Oversight and Government Reform Committee, I can confirm that our worst fears have been validated,” Luetkemeyer said. “The report clearly shows that senior members of the FDIC lied to me, to Congressional staff, to other Members of Congress, and in testimony to several House Committees. Not only that, the communications contained in the report show that the FDIC is inserting personal views into banking supervision, which is unethical and completely unacceptable. I have urged Chairman Gruenberg to take prompt action, including but not limited to a thorough review of each FDIC staff member implicated in the report. Throughout my more than 35 years in the banking industry, I have always had the utmost respect for the FDIC and the manner in which it carries out its mission. That respect has been greatly diminished. Congress and the American people have lost faith in the FDIC and will not tolerate this behavior. It is time for Chairman Gruenberg to take action and report back the findings to Congress in order to restore the integrity of the FDIC.”