A little belated, but excited to have joined @DWTLaw this month in Seattle and join an incredibly strong financial services and fintech team!
https://t.co/49mIeh5ORX
Rohit Chopra is going the Democratic Attorneys General Association. According to Bloomberg, he will lead the Consumer Protection and Affordability Working Group where he will “oversee a team of researchers and policymakers charged with making
recommendations for how prosecutors can curb abusive practices by lenders and other companies in their states.”
On a personal note, I find this very, very funny. Chopra is a smart, capable person, but enforcement strategy is absolutely not in that wheelhouse. At all. Just look at the record.
This is just another case of Dems providing landing spots for DC folk to hang around in an attempt to stay relevant and recycling bad ideas. Again, Chopra IS a smart, competent person, so don’t dismiss him, but Enforcment strategy is just such a bad choice.
I guess, sadly, we can look forward to several hyperbolic press relaxes from Dem AGs with little substance behind them.
Here is our client alert on the @CFPB's proposed rule to regulate stablecoins, video gaming currencies, and rewards points:
https://t.co/JW3bCcM5Dk #cryptocurrency#Regulation#stablecoins
Upbound (a holding company that owns a number of subprime lending businesses, including rent-a-Center) is acquiring Brigit for up to $460M (depending on performance incentives).
Brigit, which provides a subscription-based cash advances, was founded in 2018.
I guess the idea is that Brigit will allow Upbound to capture customers outside the reach of its existing POS lending business and keep them more engaged on a month-to-month basis.
https://t.co/aryCgQdbsR