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February 11, 2021

Max Moran Timi Iwayemi

Report

2020 Election/TransitionFintech

The Industry Agenda: Fintech

Since fintech apps provide a wide range of financial services, there are many potential harms to leaving the industry largely under-regulated — especially since many fintech and cryptocurrency firms design their products to narrowly evade existing laws that define certain types of financial products, and thus, the regulations to which they are subject.

February 04, 2021 | American Prospect

Dorothy Slater Max Moran Timi Iwayemi

Op-Ed

2020 Election/TransitionClimateDepartment of JusticeFinancial RegulationFintech

Even After The Cabinet Selections, Personnel Is Policy

As grinding as the cabinet fights have been, they’re only the first wave of the Biden administration’s personnel. Now comes a new stage of the transition, in which the newly-named secretaries choose their own undersecretaries and senior advisers. Although occupants of these positions typically operate outside the national spotlight, they still wield enormous power.

February 01, 2021 | The Intercept

Max Moran Timi Iwayemi

Op-Ed

2020 Election/TransitionFinancial RegulationFintech

Robinhood Is A Perfect Example Of Fintech's Insidious Power

Fintech is neither inherently good nor bad; rather, like any technology, its potential impact on society is closely tied to the policy decisions guiding its use — and the next four years could define how much the fintech industry is able to shape the financial system. Left to their own devices, fintech firms could swindle average people through ill-advised day-trading or high-interest loans, usher new systemic risks into the financial system, and develop traceable, privately owned currencies with the potential to replace cash.

January 21, 2021

Timi Iwayemi

Blog Post

2020 Election/TransitionFintechTech

Michael Barr's Past And Present Raise Deep Concerns If Appointed

If appointed to Biden’s OCC, Barr will confront one major new question for the primary federal regulator of banks: how to handle the emergent “fintech” industry of lending and payments apps. Disturbingly, Barr’s history advising and investing in the fintech industry suggests an approach similar to Trump’s own fintech-friendly stooge, former acting Comptroller Brian Brooks.