IMHO- this industry woundn't get regulated even if we directly asked for it. It's just too small. It's a drop in the lending bucket. Regulation comes in when problems are big along with a class of victims. Add in the fact that this is b2b and not b2c and it becomes even less appetizing for regulators.

The first shoe to drop would be individual court cases that call out fixed payment ach programs disguised as receivables purchase contracts. We aren't even seeing that yet.