In case you haven't seen this, Portland-based private debt firm Aequitas Capital just got busted by the SEC for fraud. It's making me wonder, what's the status of other consumer credit oriented firms? I know that Santander Consumer for instance was doing quite well for the past few years, then in 2015 its stock price got cut in half. This kind of lending, for credit cards, auto loans, or for-profit college student loans, isn't as big as subprime was, but do you think we'll see some other firms like this blow up or get exposed for fraud in the future?
Here's the news article about Aequitas: http://www.oregonlive.com/business/index.ssf/2016/03/sec_alleges_widesp…
You know what's really crazy? I actually interviewed with these fuckers back in 2013. Really really glad in retrospect they didn't hire me. Yikes.
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