Operation 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.
The law was not affecting the listed business alone but also those that did business with them and among them was the ISO Andrew Phillips Cardflex whose one of the principles is Andrew Phillips. The unfairness comes in when they are putting some very innocent lawful business people out of business and ruining their source of income. 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. The banks and other financial institutions were forced to end some very long term relations with some of these businesses that had to trouble with for all that time. Some, like the Andrew Phillips Cardflex were sued for allegedly helping a listed company to steal from the consumers 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. There will be losses to both the listed and the organizations and the institutions that are doing business with them.
Andrew Phillips Cardflex law saw some businesses closing and others incurring massive losses if they do not end up in court. Anyone who has been in court will tell you that the financial burden that comes with them are usually unbearable. As much as it is believed to have been ended, the business people are still feeling the effect of this unfair law. Such law that exploit others at the expense of others is against the core purpose of the government. Be considerate to the ones that are unfairly being targeted and they do not even deserve it. Andrew Phillips Cardflex is a law that should be forgotten because it is outdated because fairness should always be a priority.
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