Permission to nullify

Weekly Standard reports on the usual department of justice overstepping the law.  Here they target perfectly ;leag;al lending operations, with no justification in law. Obama never figured out that presidential nullification  breeds private nullification.

Payday lenders have now had to ask a federal judge in Washington, D.C., for emergency relief to stop what they call a coordinated effort by U.S. regulators to stop banks from doing business with them—essentially threatening their very survival. In a filing a two weeks ago, the Community Financial Services Association of America (CFSA), and payday lender Advance America, said a preliminary injunction was needed to end the "back-room campaign" of coercion by the Federal Reserve, the Federal Deposit Insurance Corp, and the Office of the Comptroller of the Currency. 

 Advance America—one of the largest payday lenders in the U.S. with over 2,100 locations—said its own situation became dire after five banks decided in the last month to cut ties. That included a 14-year relationship with U.S. Bancorp, putting it "on the verge" of being unable even to hold a bank account. Charles Cooper, a lawyer for the CFSA said, "Protecting consumers from credit fraud is, of course, a commendable goal. But the manner in which the defendant agencies have chosen to pursue that ostensible goal betrays that their true intent has always been to eradicate a disfavored industry."