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Warren and Van Hollen press OppFi to abandon bank deal

Original: Warren, Van Hollen pressure OppFi to ditch bank deal Weeks after nonbank lender Enova scrapped its bid to buy Grasshoppe

Two Senate Democrats, Elizabeth Warren and Chris Van Hollen, are urging nonbank lender OppFi to abandon its efforts to acquire Grasshopper Bank. The pressure comes weeks after Enova, another nonbank lender, scrapped its own bid to buy the bank. The lawmakers' intervention signals growing congressional resistance to fintech firms buying banks without a bank charter.

Why now: Senators' public pressure on a pending fintech-bank acquisition highlights ongoing political scrutiny of nonbank lenders entering the banking sector

OppFiElizabeth WarrenChris Van HollenGrasshopper BankEnova

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• Warren, Van Hollen pressure OppFi to ditch bank deal Weeks after nonbank lender Enova scrapped its bid to buy Grasshopper Bank, two Senate Democrats are urging nonbank lender OppFi to abandon its own dealmaking efforts. https://www. bankingdive.com/news/warren-va… · AlexJimenez@mas.to · 1

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