- Law firms
- Dalal will lobby for Plaid on privacy and banking regulations
- Plaid also hired Sheila Jambekar as its first-ever chief privacy officer
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(Reuters) – In its first federal lobbying registration, Plaid Inc has tapped a consulting firm co-founded by Milan Dalal, a former Brownstein Hyatt Farber Schreck lawyer and former congressional staffer.
Dalal, who was an of counsel at Brownstein Hyatt until 2019, will lobby for the San Francisco-based fintech company on privacy and banking regulations relating to the Dodd-Frank Act, according to a federal disclosure form filed this week.
Plaid is the second fintech lobbying client this month to turn to Tiger Hill Partners, a consulting firm that Dalal launched in 2019 with partner James Maloney, who previously ran his own public affairs firm and was an executive at Edelman.
Dalal is also lobbying for cryptocurrency exchange Coinbase on policy issues related to digital assets and financial technology, as well as the Infrastructure Investment and Jobs Act, according to a Sept. 10 disclosure.
Before joining Brownstein Hyatt in 2017, Dalal was at the U.S. Senate, where he served as the executive director for the Senate India Caucus and staff director for the Senate Banking Subcommittee on National Security, International Trade and Finance. He also previously worked for Rep. Gregory Meeks of New York, chairman of the House Foreign Affairs Committee, as legislative director.
Other fintech clients represented by Tiger Hill include Chime, XTX Markets, BlueVine, and trade group the Financial Technology Association. According to disclosure data compiled by Open Secrets, Tiger Hill Partners has lobbied for 13 clients so far in 2021 for a total amount of $760,000, mainly in the financial or fintech sectors, nearly double its revenue from last year.
Plaid, which connects customer banking accounts to financial apps such as Venmo and Robinhood, last month agreed to pay $58 million to resolve consumers’ claims that the company obtained and used bank account credentials and financial information without consent. Plaid was last valued at $13.4 billion in April, far more than the $5.3 billion Visa proposed to pay for the company in a failed acquisition announced in early 2020.
Plaid on Thursday also announced that it had hired Sheila Jambekar, who most recently was deputy general counsel at Twilio Inc., as its first chief privacy officer. Jambekar is reporting to Plaid’s general counsel Meredith Fuchs, a former top lawyer for the Consumer Financial Protection Bureau and chief counsel for Capital One Financial Corp., whom the company hired last year.
Jambekar, who started her legal career as an associate at Morgan, Lewis & Bockius, also held in-house roles at Franklin Templeton Investments and Zynga Inc, according to her LinkedIn page.
Xiumei Dong covers legal industry news, with a focus on law firm strategy and growth, in-house counsel and the Washington, D.C., legal market. Reach her at Xiumei.Dong@thomsonreuters.com.