The dangers of giving excessive discretionary authority to administrative agencies, by Peter J. Wallison

The lead editorial in yesterday’s Wall Street Journal was about the effort of the Obama administration to close down payday lenders by depriving them of banking services. This is not a new story; it is covered extensively in my book, “Judicial Fortitude: The Last Chance to Rein in the Administrative State.”
The underlying facts are gross examples of lawlessness by the Obama administration, pursuing a policy known as Operation Chokepoint. Bank regulators and the banks they supervised were the “chokepoint” of this policy, which — most shockingly — was initiated and run by the Justice Department. DOJ directed the bank regulators to stop the financing of payday lenders, an entirely legal business that was disfavored by the Obama administration.....

EN:

http://www.aei.org/publication/the-dangers-of-giving-excessive-discretionary-authority-to-administrative-agencies/?mkt_tok=eyJpIjoiWTJVMFlXRTFOelkyWWpKbSIsInQiOiJjOHBBTUhMYSszUFRMMUtQaUI0TkhaZm9IbDhBYmZpRkczRWFLNmliSzJpZnRxY0NqSnlhd3oxQ1wvXC8wdEpodWVsTHZPdVwvWnRMZjFQYUE3OElpa1Z6czBnSXRJbVZhRkNFTVBVVDNEOU9GRjFFN2lhYnU1QnZlM29Pbkord1V6bSJ9