[Don Dolla]

how about estimated annual cost of capital

i see what you're saying

[Karen37a]

how about estimated annual cost of capital

i see what you're saying

yes that's better but ..its hard to form a metric to compare apples to apples because of the daily payment etc but the acc is better

so they want to slap apr on it....everyone will be fined and have sanctions for turning cash advances into loans and you will lose in court instantly


They know this...they are just knocking mca out

[Karen37a]

I hope yall didn't think they were after me because of my dazzling personality

they wanted me to shut up and go away ...like kevin said

off to close end of month

[BB_Cooper]

SB-1235 was enrolled on the 7th. Hasn't this already become law? The regulation will take some time, but what is all this talk of Veto . . .?

[Karen37a]

SB-1235 was enrolled on the 7th. Hasn't this already become law? The regulation will take some time, but what is all this talk of Veto . . .?

The Gov has until today or the 1st to either sign it into law or Veto it

Add

He has until Sunday to sign the law or Veto....call

https://community.cfa.com/tsl/tslextra/badbill

Bad Bill with Good Intentions

By D. Michael Monk
As President of the Commercial Finance Association (“CFA”), which is a trade organization representing hundreds of banks and asset-based lenders doing business in California and throughout the United States providing tens of billions of dollars in working capital annually to small and medium-sized businesses, I am urging Governor Brown of California to veto the recently passed bill, CA SB 1235, which was introduced by Senator Steve Glazer.



https://www.americanbanker.com/opini...s-lending-bill

The Commercial Finance Association believes SB 1235 will cause irreparable harm to the asset-based lending and factoring industries by creating an environment that causes confusion to the borrowers, rather than more transparency. We respectfully ask Gov. Brown to veto this bill as it ensnares reputable and well-established commercial finance lenders, along with the subset of predatory term and cash advance lenders at which it is aimed. Our association is committed to transparency and would welcome the opportunity to help craft legislation that attains the goals of this bill, but without the unintended consequences.

[fundingsmbs]

he signed it.

[Karen37a]

he signed it.

If he didn't change certain things they will be imploded on

I will have to read the exact language

And you cant change banking laws and rules to suit your needs ...I am sure it will be challenged on a Federal level...also maybe an appeal

__

https://www.youtube.com/watch?v=eclbaC3q94k


You have bled with Wallace now bleed with me

[jcoop]

So do we need to have a CFL to do California deals now since it passed?