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07-24-2014, 04:22 PM #8
- Join Date
- Jul 2014
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Ok-so here is a thought. If the owner signs as a guarantor of the "loan"/or advance made to the business he or she owns, he/she is signing the guarantee as an individual (ie. consumer). This may indeed be the window and or avenue that the CFPB uses to claim jurisdiction. Also -the whole BFS/California Lawsuit stemmed from an advance made to a sole prop and I think the argument was that the advance was indeed a consumer loan. Would absolutely love to hear how I am wrong on this! What am i missing, if anything??
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