Companies generally try to avoid attracting the attention of regulators, especially when they’re in a heavily scrutinized industry. So when Daniel Yanisse, co-founder and CEO of the background-check platform Checkr, decided to ask for a meeting with the Federal Trade Commission, his outside counsel was less than thrilled.
“Our outside counsel took me aside and told me I was crazy to proactively go to regulators, because it’s a dangerous thing to do and businesses don’t do it. They come to you, and you don’t want to be on their radar,” he said. “Initially, she was not very excited about my idea to connect with the regulators and explain what we do to them.”