WASHINGTON — Lawmakers are ramping up pressure on the Justice Department and banking regulators to curtail Operation Choke Point, including prepping legislation that would grant institutions a safe harbor in certain circumstances.

The draft bill by Rep. Blaine Luetkemeyer, R-Mo., is still in the early stages of development, but shows the increasing frustration that bankers and many House Republicans have with the law enforcement program, which is designed to choke off fraudsters' access to the payment system.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.