Months before an agency that is federal a brand new rule threatening the profits of exploitative payday lenders across America, the industry’s leaders collected at a posh resort when you look at the Bahamas to get ready for war.
During the March strategy session, Gil Rudolph of Greenberg Traurig, one of many attorneys dealing with the lenders, described the coming storm in this manner: “It is such as a tennis match. Each time you hit a ball, ideally it comes down right straight back. Our work is always to strike the ball right back difficult.”
Just about everybody has a obscure sense that business America doesn’t like being told how to proceed, but seldom do we get yourself a front-row chair into the way the playbook for resisting federal legislation is written.