Procedure of Choke Point Unfairness by Andrew Phillips Cardflex
The government of the USA in 2013 made a new law that used its agencies to discourage the banks from engaging in business with the “high risk businesses” that were believed to be exploiting the consumers. The aim of this program was to make the businesses that were listed as the ones in the high risk of exploiting the consumer run out of business. This law lost its effect when it included a lot of legal businesses that were considered to be a scam to the consumers and that included the fire arms and ammunition.
Not only did the law affect the businesses alone, it also had some financial organizations like the Andrew Philips Cardflex cornered due to some allegations that they had done business with a listed company. This law is unfair to those people that are being choked out of their business yet they are doing legal businesses. As was expected, this was met by a lot of resistance by congress who were trying to put an end to this “operation “until it was allegedly over.
When this law was instigated, the banks were forced to block the listed businesses from their services and that led them to sending notices to these businesses telling them that they will not be able to work with them. This was because the banks among many other businesses were forced to terminate long term relationships with these listed companies that they had no problem with. Companies like the Andrew Phillips Cardflex felt the heat when they had to go to court when they were claimed to have engaged in business with a listed company that led to a scam on the consumer’s credit and debit accounts. The ones in the business have been unfairly targeted and required to make other finance arrangements which lead to a lot of losses because it is not an easy process. So this shows that both the listed and the organizations that are doing business with them are a target. The losses due to restricted business relations are inevitable.
This kind of law affect where people get their income and some having to face legal procedure. The courts are accompanied by lots of fines, bails and even a lot of money that is used to hire lawyers. As much as it is believed to have been ended, the business people are still feeling the effect of this unfair law. The work of the government is to protect the citizens at all cost but that “all cost” should be limited up to where the law hurts other people. Consider the affected people. Andrew Phillips Cardflex is a law that should be forgotten because it is outdated because fairness should always be a priority.