This case is notable for what it says about the Obama administration and because it demonstrates why it is so dangerous to have leaders like President Obama

Under this President for the first time the FDIC gave 'guidelines' to banks on what legal businesses the Obama administration considered 'high risk' - in effect undesirable.  Unsurprisingly banks moved swiftly to drop these businesses which include gun dealers, fireworks dealers, rare coin dealers, payday loans and porn producers and actresses.  All legal businesses, all targeted by a President in an illegal manner for the last six years.  And now that it's come to the surface, they're dropping it.  What other illegal programs are they running that are still under cover?

Federal Agency Blames ‘Confusion’ for Choking Business Owners’ Access to Banks.

Federal regulators have backed away from pressuring banks to stop doing business with legal enterprises that the Obama administration labeled “high risk” — including selling guns, making payday loans, and trading in rare coins. 

Late last month, the Federal Depositors Insurance Corporation told banks that it had removed a list of 30 examples of “high risk” activities from the agency’s website, stating its list had “led to misunderstandings.” 

By “misunderstandings,” FDIC apparently meant that its guidance led to sudden decisions by banks across America to close accounts with customers that fell under any of the listed categories.
If they didn’t close the accounts, bank officers thought, they could be subject to federal audits or other investigations.

This type of abuse of power along with scandals like IRS targeting and the precision 'losing' of the emails of a few dozen employees in at least four agencies (all of their emails, including backups, nobody else lost a thing) are what brought Richard Nixon down.  But the press and bien pensant opinion won't hold a President Obama accountable the way Nixon was.  Obama is their man.  The result is that fashionable Ivy league minority progressives can get away with abuses of power that would destroy any other President.  Until we find a way to revoke this criminalized 'affirmative action' it would be irrational to elect another minority progressive because they can't be held to account for their actions.

Hattip Instapundit