I am opening up another thread to discuss this one point and all the details involved ( in a civil manner) so we can chat about positive change and if its even possible.

John said these things on seperate posts. I will respond.

This is the case law I'm referring to, not textbook/generic definitions of what a fiduciary is. Post where you are getting this specific information above from? What would be the baseline used to determine the "lowest rate" when merchants are priced on a case-by-case basis, based on the individual underwriting criteria of the funder in question? Our industry doesn't have standard, across the board, "rates".

And a good chunk of A/B funders/lenders have been doing case-by-case 2nd position deals for a while now. Again, it mainly depends on the merchant's gross and how much of it is going towards paying back these types of short term payments. Post links and information to the case law along with other regulatory guidance in which you are referring to.

And this industry/merchant services industry is still in dire need of more regulation to help police many of the wrong-doings taking place, including doing better background checks on who is allowed to participate in the industry, due to the fact we are collecting such sensitive merchant information and identity theft is a major problem in the US.

Right now (in general) anybody with a pulse can become a "Rep" and I'm not sure how anybody feels that's justified.