I arrived in fintech post Dodd-Frank and in the middle of the Durbin Amendment playing out. All in all, the Durbin amendment aimed to reduce transaction costs in commerce, and had lots of unintended consequences as I’ve written about here, including (in my opinion) enabling the development of the fintech ecosystem as it exists today, by taking a fee pool that had formerly been accessible only to incumbents, and enabling upstarts like Cash App, Chime and Venmo to participate in it, and in so doing, funding the next generation of fintech infra like Marqeta.