Congressional Hearing on FDIC's Role in Operation Choke Point
January 1, 2015
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The Frame
The hearing examines the extent of federal regulatory influence over banking relationships and the transparency of the FDIC in responding to congressional inquiries regarding its enforcement policies.
Potentially affected actors named in the source documents. Mention is not a position.
FDIC
The agency is the subject of congressional oversight regarding its regulatory enforcement policies.
Financial Institutions
Banks and financial entities are subject to the regulatory guidance and enforcement actions discussed under Operation Choke Point.
Last recorded activity January 1, 2015.
Next step not available in the current record.
Summary
Key Facts
- The hearing took place on March 24, 2015, before the Subcommittee on Oversight and Investigations.
- The primary subject was the FDIC's role in 'Operation Choke Point,' a federal initiative targeting high-risk business sectors.
- Martin J. Gruenberg, Chairman of the FDIC, served as the primary witness.
- The subcommittee chairman noted that the FDIC and its staff had been responsive to document requests and questioning prior to the hearing.
- The subcommittee chairman expressed concern regarding White House interference in the committee's cooperation with the FDIC.
- The hearing record includes written statements from the Electronic Funds Transfer Association (EFTA) and the Electronic Transactions Association (ETA).
- The record includes written responses from Chairman Gruenberg to follow-up questions from Representatives Luetkemeyer and Mulvaney.
Why It Matters
The hearing examines the extent of federal regulatory influence over banking relationships and the transparency of the FDIC in responding to congressional inquiries regarding its enforcement policies.
Frequently Asked Questions
What was the purpose of this hearing?
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News Coverage
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Congressional-Executive Friction
The hearing transcript highlights explicit tension between the House Subcommittee and the White House regarding the level of cooperation provided by the FDIC.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance80How much this matters to a regular citizen
- Controversy75Intensity of disagreement among stakeholders
- Entertainment40Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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