ATMIA Resource Kit Helps Address Operation Choke Point Impact

Posted On: 10/26/2017

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SIOUX FALLS, SD -- Now available from the ATM Industry Association is a resource kit to aid ATM operators who are still dealing with the lingering impact of Operation Choke Point, which has erroneously harmed legitimate businesses by shutting down their bank accounts.

Although the FDIC and Department of Justice have publicly stated that Operation Choke Point has been terminated, ATMIA continues to receive copies of account closure letters from ATM operators across the country. The kit includes documents that provide history on OCP, information on efforts to end it, FinCEN forms and instructions, and checklist and recommendations.

"There is speculation throughout the industry that the real reason ATM operator accounts are being closed is because of poor profitability in the current regulatory environment," said ATMIA US executive director David Tente. "If that is indeed the case, all operators, particularly those with accounts at larger national banks, will need to have a Plan B for the foreseeable future."

The Operation Choke Point Resource Kit can be downloaded at atmia.com/advocacy/operation-choke-point.