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U.S. probing at least 10 banks, processors for fraud -documents
May 29, 2014 / 5:27 PM / 3 years ago

U.S. probing at least 10 banks, processors for fraud -documents

WASHINGTON, May 29 (Reuters) - U.S. federal prosecutors have opened criminal probes of four payment processors, one bank and some officials as part of a wide-ranging consumer fraud probe, according to documents released on Thursday by a congressional committee.

The Justice Department was also investigating at least 10 banks and payment processors as of last November under a civil fraud law, the documents showed.

The House of Representatives’ Oversight Committee released the documents related to a DOJ investigation known as “Operation Chokepoint,” which aims to crack down on fraud by going after firms that handle and move money for various businesses. (Reporting by Aruna Viswanatha and Emily Stephenson; Editing by Susan Heavey)

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