On Thursday, online lender Enova International posted a $52 million profit on $320 million in revenue, up 57% from the same time last year. In addition, total originations increased 26% sequentially to a record $856 million. Despite the good news, the stock saw only a 4% rise before falling back toward its downward trend this month.
Gensler said his biggest worry about the equity market was competition and consolidation. While retail investing has taken off, the PFOF that enables it is ripe for conflict of interest.
It's not a new thing. PFOF has been a contentious issue for more than 30 years. But, with the rise of feeless retail trading options since 2018, PFOF is back in the news.