Visa axes Plaid deal – Gensler reportedly tapped as new SEC chair – Inside SoFi’s plans to go public

SourceBusiness Insider
CountryMiddle east

Guess who's back? Gary Gensler, the former chair of the CFTC, is set to be picked by President-elect Joe Biden as the next chair of the SEC, according to a report from Reuters. Gensler is quite an adjustment (to put it mildly) from former SEC chair Jay Clayton. Gensler was known for overseeing plenty of new regulation in the wake of the financial crisis, including implementing rules around how complex derivatives are traded and managed by financial firms. If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals. Like the newsletter? Hate the newsletter? Feel free to drop me a line at or on Twitter @DanDeFrancesco.  Visa is scrapping its $5.3 billion deal to buy Plaid after DOJ antitrust lawsuit Zach Perret CEO and cofounder of Plaid Plaid Visa's $5.3 billion deal for Plaid wasn't the biggest of 2020, but its implications were far reaching. Plaid is the startup you might not have heard of, but have definitely used. The fintech essentially acts as the back-end piping for the world of digital finance, connecting banks more...