[DirectFunds101]

On page 1 of this report, The FED talks the industry and potential regulation. Any thoughts?

https://www.federalreserve.gov/about...c-20180504.pdf

[Karen37a]

Technically the CAC is not the Federal Reserve in and of itself. The CAC is a group diverse group of experts and they meet semi-annually with the board of Governors in Washington to give their perspectives.

I Believe that this President of ours is not a big fan of regulation after he went after the doody frank act and **** canned that other watchdog group.

He is in the process of trying to "remake" the Fed but I do not think he will be able to do it but he is getting people appointed and nominated with his thought patterns.

Who knows where they are going...we shall see

[Sean Cash]

On page 1 of this report, The FED talks the industry and potential regulation. Any thoughts?

https://www.federalreserve.gov/about...c-20180504.pdf

It is frustrating to see a sentence start off like this:

"The growth of Merchant Cash Advance lenders like OnDeck and Kabbage..."

Neither company even offers merchant cash advances and those are their only 2 examples of MCA companies from which they draw their opinions of MCA on. A lot of more education is needed to those in a position of regulatory and legislative influence.

[Karen37a]

It is frustrating to see a sentence start off like this:

"The growth of Merchant Cash Advance lenders like OnDeck and Kabbage..."

Neither company even offers merchant cash advances and those are their only 2 examples of MCA companies from which they draw their opinions of MCA on. A lot of more education is needed to those in a position of regulatory and legislative influence.

I agree but you cant taint mca brokers with a bad brush people will not understand the difference.

I think compliance courses are needed ...like brokers 101 ( like the test you have) then 202 303 then a mangers compliance certificate then an iso...

[Karen37a]

And those advisors of the CAC watch these boards


One good thing. They got to watch people who were uneducated smash a broker to the ground over a DUI with a pristine record in regards to finance

[Karen37a]

"karens talking to herself again"

nope

[Karen37a]

If they ever regulated. They would put a huge dent in Seo and online applications. They do not like them.

They will want LIVE brokers to take the applications with a fiduciary responsibility

The Iso survives either way...imo