[Karen37a]

I was a Compliance officer none of you say Apr again...not even the ex-regulator fool


and its not a loan its an advance

and they are not lending its funding

[WestCoastFunding]

its not an Apr for the 1000000 th time

if it resembles a loan then it is a loan and you are committing criminal usury and they will default on you

Karen, why do you keep referencing “APR” when the legislation literally doesn’t make mention of an APR?

It’s just weird you’re arguing against something the legislation doesn’t even call for.

[Karen37a]

Karen, why do you keep referencing “APR” when the legislation literally doesn’t make mention of an APR?

It’s just weird you’re arguing against something the legislation doesn’t even call for.

They did not create the metric yet...they are leaving it up to the dbo to decide and the stupid smart box says apr on it for cash advances

https://innovativelending.org/smart-...closure-depth/


this looks like a loan contract there for it is one ...I could nullify this cash advance and move to not pay it back in 5 seconds flat

[WestCoastFunding]

They did not create the metric yet...they are leaving it up to the dbo to decide and the stupid smart box says apr on it for cash advances

Nonsense.

I repeat again, the legislation does not call for using an APR. it’s literally only you that claims that as your argument metastasizes.

[Karen37a]

Nonsense.

I repeat again, the legislation does not call for using an APR. it’s literally only you that claims that as your argument metastasizes.

not true...they haven't decided on the metric to use yet

veto until it's clear and concise


and that smart box needs to take apr off of it, like I said years ago as you have uber drivers stalking me

[Don Dolla]

how about estimated annual cost of capital

i see what you're saying

[Don Dolla]

is this why loan me hasn't been funding any deal lately? anyone else noticing that... or we just in a slump with them ?

[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

[jdlaw]

is this why loan me hasn't been funding any deal lately? anyone else noticing that... or we just in a slump with them ?

Actually almost 40% of my production this month was with LoanMe. Another 25% with QS.

[Karen37a]

I’d like to inform Karen that the free market is surviving just fine with regulation.

Please you and I and my hedge fund friends debated doody frankenstien extensively
__

Trump signs the biggest rollback of bank rules since the financial crisis

Congress Approves First Big Dodd-Frank Rollback

https://www.cnbc.com/2018/05/24/trum...gulations.html


West coast just one question for you. How are you a sadist and a libtard socialist all at once?

[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?