The Justice Department is moving forward with more cases against banks and payment processors as part of a far-reaching investigation of those who enable businesses deemed morally questionable and legally dubious.
In a video message posted online, Attorney General Eric Holder confirmed the department’s intention to bring more cases, reports The Wall Street Journal.
“In the months ahead, we expect to resolve other investigations involving financial institutions that chose to process transactions even though they knew the transactions were fraudulent, or willfully ignored clear evidence of fraud,” Mr. Holder said in a video message posted online.
These remarks come as lawmakers and business groups question the breadth and depth of the probe’s reach—which taken in parallel with other federal efforts by the CFPB is putting the squeeze on businesses that are entirely legal.
Mr. Holder re-affirmed in the video the aim is to “protect consumers from scam artists and collaborating institutions—in every circumstance and industry.”
According to documents made public last month, the DoJ has opened 10 civil investigations into banks and processors since Operation Choke Point launched in 2013, and pursued criminal charges in the case of one bank and four payment processing firms.
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