The operation started under the Bush administration, though it certainly ramped up under Obama.
What's interesting though, is that the current administration started the media blitz about guns going to Mexico and thus the "need" for further controls on gun sales. And they coupled this with ATF traces of guns found in Mexico traced back to gun stores in the SW US. Of course, many (most?) of those traced guns were sent south by the ATF.
The Mexican government is now calling for the ATF and DOJ people involved to be extradited for trial in Mexico. I think we should oblige our neighbors to the south.