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EventShares’ comments on Trump’s deregulation push

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The latest EventShares Policy Insights piece, CIO Ben Phillips (pictured) focuses on the Trump Administration’s deregulation push, particularly in the financial sector with its latest efforts to dismantle the Consumer Financial Protection Bureau (CFPB). 

ETF provider EventShares has the actively managed US Policy Alpha ETF, which seeks to provide exposure to companies and sectors that are impacted by US government policies and regulations.
 
Phillips believes that Mick Mulvaney, the temporary acting director of the CFPB, will continue to lead the bureau while the nomination for the permanent director is pending approval in the Senate, a process that could take some time.  This is crucial since Mulvaney is a fierce opponent of the CFPB and since assuming this role, he has reorganised and rebranded the bureau and attempted to delay new regulations affecting short-term, high interest loans.  
 
Phillips expects non-traditional lenders to benefit through the 2020 election from these deregulation changes and reduced competition from prior regulations. Examples of impacted stocks include speciality finance firm FirstCash Financial (FCFS), personal loans companies like OneMain Holdings (OMF), Curo Financial (CURO), and Enova International (ENVA) and electronic payment processing firm Green Dot Corporation (GDOT).   
 

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