The government of the USA in 2013 made a new law that used its agencies to discourage the banks from engaging in business with the “high risk businesses” that were believed to be exploiting the consumers. The program was made to choke out, as the name depicts, the businesses that were referred to as the “high risk”. This was a good move at fast until the fire arms and the ammunition were also categorized as “high risk” among many other businesses that were actually legal.
This new law also affected a lot of businesses like the Independent Sales Organizations led by Andrew Phillips Cardflex who were accused of helping the scammer drain money from the consumer’s accounts. The law is there to make everyone equal and so when it is exploiting one at the expense of another like the people in the listed business, Andrew Phillips Cardflex becomes an unfair law. So since there are people and organizations that are there to protect the defenseless, they started a fight against this law until it was said to end in 2017.
The gun shops and other businesses were receiving notices from their respective banks that they will not be able to work with them. This was because the banks among many other businesses were forced to terminate long term relationships with these listed companies that they had no problem with. Some, like the Andrew Phillips Cardflex were sued for allegedly helping a listed company to steal from the consumers accounts. The ones in the business have been unfairly targeted and required to make other finance arrangements which lead to a lot of losses because it is not an easy process. Both the financial organizations and the listed businesses are set to incur losses. The damage that this kind had or will have on the business at large is only imaginable.
This kind of law affect where people get their income and some having to face legal procedure. Anyone who has been in court will tell you that the financial burden that comes with them are usually unbearable. Andrew Phillips Cardflex all believe that the unfair treatment of the targeted business should have ended by now but that is just some believe we will have to keep hoping that it is actually true. The government should make laws that equate all the citizens. We should think of those people that depend on the businesses that were listed as “high risk” to feed their families. These kind of regulations should be eliminated because they go against the very core function of laws.