Bloomberg News
MOOT SUIT? Terminations of bank-payday lender relationships were the "banks' business decision," federal regulators said in response to a lawsuit filed by Advance America and a payday lending trade group. The FDIC has rescinded a controversial list of high-risk businesses targeted by the suit, regulators also said.

Bank Regulators Ask Judge to Dismiss 'Choke Point' Lawsuit

The FDIC, OCC and Fed all maintain that it's up to banks, not their regulators, to make decisions about whether to do business with payday lenders.

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