The Justice Department has committed to ending a controversial Obama-era program that discourages banks from doing business with a range of companies, from payday lenders to gun retailers, the Politico reported today. In a letter to House Judiciary Chairman Bob Goodlatte (R-Va.), Assistant Attorney General Stephen Boyd referred to the program as “a misguided initiative." Under President Barack Obama, the department said that the effort was intended to root out fraud by banks and payment processors and to cut off the banking system from wrongdoing by merchants.
