The Dangers of Payday Lenders

In this episode I sit down with David Thompson, managing partner at Cooper & Kirk. We cover the emergence of Operation Choke Point 2.0 and what recourse can be sought by the industry. In this episode: 

• Cooper & Kirk's track record and reputation
• The story of Choke Point 1.0 and how Cooper & Kirk helped end it
• How was OCP 1.0 resolved? 
• Why Cooper & Kirk wrote their recent white paper on OCP 2.0
• Differences between Choke Point 1.0 and 2.0 
• Inconsistencies in FDIC Chair Gruenberg's Congressional testimony
• Why David thinks that a complaint on due process grounds might be the best option for affected firms 
• Relevant constitutional protections 
• How OCP 2.0 might resolve
• The fate of the SPDIs
• Possible violations of the Administrative Procedures Act by the Fed
• How SCOTUS might rule on this issue 

Further reading: 

• Cooper & Kirk: Operation Choke Point 2.0: The Federal Bank Regulators Come For Crypto