I 
113TH CONGRESS 
2D SESSION 
H. R. 4986 
To amend certain banking statutes in response to Operation Choke Point. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 26, 2014 
Mr. LUETKEMEYER introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To amend certain banking statutes in response to Operation 
Choke Point. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘End Operation Choke 
Point Act of 2014’’. 
SEC. 2. BUSINESS ACCESS TO INSURED DEPOSITORY INSTI-
TUTIONS. 
(a) IN GENERAL.—The Federal Deposit Insurance 
Act (12 U.S.C. 1811 et seq.) is amended by adding at 
the end the following new section: 
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‘‘SEC. 51. BUSINESS ACCESS TO INSURED DEPOSITORY IN-
STITUTIONS. 
‘‘(a) IN GENERAL.—The Federal banking agencies 
may not prohibit or otherwise restrict or discourage an 
insured depository institution from providing any product 
or service to an entity that demonstrates to the insured 
depository institution that such entity— 
‘‘(1) is licensed and authorized to offer such 
product or service; 
‘‘(2) is registered as a money transmitting busi-
ness under section 5330 of title 31, United States 
Code, or regulations promulgated under such sec-
tion; or 
‘‘(3) has a reasoned legal opinion that dem-
onstrates the legality of the entity’s business under 
applicable law. 
‘‘(b) RULE OF CONSTRUCTION.—Nothing in this sec-
tion shall be construed to— 
‘‘(1) require an insured depository institution— 
‘‘(A) to provide any product or service to 
any particular entity; 
‘‘(B) to regularly review the status of any 
license of an entity; or 
‘‘(C) to determine the validity or veracity 
of any reasoned legal opinion obtained under 
subsection (a)(3); or 
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‘‘(2) imply or require that an insured depository 
institution may only provide products or services to 
an entity that has met any of the requirements of 
paragraphs (1) through (3) of subsection (a). 
‘‘(c) LIMITATION
ON RULEMAKING.—The Federal 
banking agencies may not issue any guidance under sub-
section (a). Any rule implementing subsection (a) shall be 
promulgated in accordance with section 553 of title 5, 
United States Code. 
‘‘(d) REASONED LEGAL OPINION DEFINED.—For 
purposes of this section, the term ‘reasoned legal opin-
ion’— 
‘‘(1) means a written legal opinion by a State- 
licensed attorney that addresses the facts of a par-
ticular business and the legality of the business’s 
provision of products or services to customers in the 
relevant jurisdictions under applicable Federal and 
State law, tribal ordinances, tribal resolutions, and 
tribal-State compacts; and 
‘‘(2) does not include a written legal opinion 
that recites the facts of a particular business and 
states a conclusion.’’. 
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SEC. 3. BUSINESS ACCESS TO FEDERAL CREDIT UNIONS. 
Title I of the Federal Credit Union Act (12 U.S.C. 
1751 et seq.) is amended by adding at the end the fol-
lowing new section: 
‘‘SEC. 132. BUSINESS ACCESS TO INSURED CREDIT UNIONS. 
‘‘(a) IN GENERAL.—The Board may not prohibit or 
otherwise restrict or discourage an insured credit union 
from providing any product or service to an entity that 
demonstrates to the insured credit union that such enti-
ty— 
‘‘(1) is licensed and authorized to offer such 
product or service; 
‘‘(2) is registered as a money transmitting busi-
ness under section 5330 of title 31, United States 
Code, or regulations promulgated under such sec-
tion; and 
‘‘(3) has a reasoned legal opinion that dem-
onstrates the legality of the entity’s business under 
applicable law. 
‘‘(b) RULE OF CONSTRUCTION.—Nothing in this sec-
tion shall be construed to— 
‘‘(1) require an insured credit union— 
‘‘(A) to provide any products or services to 
any entity; 
‘‘(B) to regularly review the status of any 
license of an entity; or 
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‘‘(C) to determine the validity or veracity 
of any reasoned legal opinion obtained under 
subsection (a)(3); or 
‘‘(2) imply or require that an insured credit 
union may only provide products or services to an 
entity that has met any of the requirements of para-
graphs (1) through (3) of subsection (a). 
‘‘(c) LIMITATION ON RULEMAKING.—The Board may 
not issue any guidance under subsection (a). Any rule im-
plementing subsection (a) shall be promulgated in accord-
ance with section 553 of title 5, United States Code. 
‘‘(d) REASONED LEGAL OPINION DEFINED.—For 
purposes of this section, the term ‘reasoned legal opin-
ion’— 
‘‘(1) means a written legal opinion by a State- 
licensed attorney that addresses the facts of a par-
ticular business and the legality of the business’s 
provision of products or services to customers in the 
relevant jurisdictions under applicable Federal and 
State law, tribal ordinances, tribal resolutions, and 
tribal-State compacts; and 
‘‘(2) does not include a written legal opinion 
that recites the facts of a particular business and 
states a conclusion.’’. 
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SEC. 4. AMENDMENTS TO THE FINANCIAL INSTITUTIONS 
REFORM, RECOVERY, AND ENFORCEMENT 
ACT OF 1989. 
Section 951 of the Financial Institutions Reform, Re-
covery, and Enforcement Act of 1989 (12 U.S.C. 1833a) 
is amended— 
(1) in subsection (c)(2), by inserting ‘‘and 
where such violation or conspiracy to violate is in 
connection with a violation or conspiracy to violate 
a section described under paragraph (1)’’ after ‘‘fi-
nancial institution’’; and 
(2) in subsection (g)— 
(A) in the header, by striking ‘‘SUB-
POENAS’’ and inserting ‘‘INVESTIGATIONS’’; 
(B) in paragraph (1), by amending sub-
paragraph (C) to read as follows: 
‘‘(C) request a court order from a court of 
competent jurisdiction, to summon witnesses 
and to require the production of any books, pa-
pers, correspondence, memoranda, or other 
records which the Attorney General deems rel-
evant or material to the inquiry, and which 
shall be issued only if the Attorney General of-
fers specific and articulable facts showing that 
there are reasonable grounds to believe that the 
information or testimony sought is relevant and 
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