Today, Congressman Blaine Luetkemeyer (MO-03), Chairman of the Financial Institutions and Consumer Credit Subcommittee, sent letters to Federal Reserve Chairman Jay Powell, Federal Reserve Vice Chair for Supervision Randy Quarles, Bureau of Consumer Financial Protection Acting Director Mick Mulvaney, and National Credit Union Administration Chairman Mark McWatters urging them to restore confidence and investigate any actions related to Operation Choke Point. Chairman Luetkemeyer released the following statement:

“I am still astonished by the sheer amount of evidence proving that senior officials in the American government have allowed their personal beliefs to govern their decisions. I fear that, given the evidence that has recently come to light, Operation Choke Point and the de-risking seen throughout the banking sector are systemic problems and not isolated to one or two regulatory agencies,” said Chairman Luetkemeyer. “For years, the OCC and other regulators denied any knowledge of, or involvement in Operation Choke Point, but we now know the OCC was lying to Congress. Such blatant abuses of power are intolerable, and it is essential for each of these agencies to investigate and reconfirm they had no role in this despicable initiative.”

Letter from Chairman Luetkemeyer to Powell, Quarles, Mulvaney and McWatters