[Sean Cash]

Out of the Nj one?

Because Calif is a law.

I did ask in your opinion on how you feel that these regulations help??

Yes out of the NJ bill.


There is still an annualized interest rate requirement in it. The bill is advancing. It made it through the committee. It has momentum.

[Karen37a]

Yes out of the NJ bill.


There is still an annualized interest rate requirement in it. The bill is advancing. It made it through the committee. It has momentum.

I still do not see how turning advances into loans...that have criminal usury caps on them helps anyone

Double dipping even from A paper will be banished which means more risk less profits

If there is a reason that I am not seeing..maybe you can explain it to me.

[J.Celifarco]

I still do not see how turning advances into loans...that have criminal usury caps on them helps anyone

Double dipping even from A paper will be banished which means more risk less profits

If there is a reason that I am not seeing..maybe you can explain it to me.

it isnt a good thing for us as an industry, this is going to screw us but this is better then if they had the APR language still in there.. I dont think anyone is saying this is good, just saying it is less bad then the alternative

[WestCoastFunding]

On another note, SMH at Bizfund (formerly New Era) for blasting out an email, CCing a million people rather than BCC.

[Karen37a]

it isnt a good thing for us as an industry, this is going to screw us but this is better then if they had the APR language still in there.. I dont think anyone is saying this is good, just saying it is less bad then the alternative

Well I do recall alot of people ** edit saying regulation would be great for over 3 years now and people pushing for this

while I pushed against this...having 5-10 people saying that I do not want regulation because I cant get thru a background check

[WestCoastFunding]

Well I do recall alot of people ** edit saying regulation would be great for over 3 years now and people pushing for this

What people wanted was national regulation — especially to prevent the state by state piecemeal.

[Karen37a]

What people wanted was national regulation — especially to prevent the state by state piecemeal.

It doesnt work that way. and you need to be the first person to apologize...and I do not really care about 99% of the rest


Just like blue sky laws investments ...state by state

https://en.wikipedia.org/wiki/Blue_sky_law

[WestCoastFunding]

It doesnt work that way. and you need to be the first person to apologize...and I do not really care about 99% of the rest

Yes, National regulation works. It’s much preferable to state by state. Apologize for what? You for getting your facts screwed up?

[jdlaw]

Doesn't make sense those that proudly claim they are 99%"s. It's like I'm a loser celebrate me....Huh

[Karen37a]

Doesn't make sense those that proudly claim they are 99%"s. It's like I'm a loser celebrate me....Huh

99% of the 10 who were bugging me

[Karen37a]

Yes, National regulation works. It’s much preferable to state by state. Apologize for what? You for getting your facts screwed up?

Regulation sucks...that about sums it up...

I was right ...now for the rest of your life live with the fact that " Karen was right about regulation" lol

I wouldn't have fought so hard against it if I didn't know how bad it was

**says the Teflon Don who has a spotless financial licence history ..NASD/finra. insurance nmls since the 80s

[WestCoastFunding]

It doesnt work that way. and you need to be the first person to apologize...and I do not really care about 99% of the rest


Just like blue sky laws investments ...state by state



https://en.wikipedia.org/wiki/Blue_sky_law

Oh, no ****, Karen. But once you have federal regulation in place the state’s back off. But when there is NO regulation in place, and aren’t proactive in shaping the inevitable, you get stuck with a state by state mess.

Who’s shaping it now? Brain-dead populists and the banks protecting their loans from MCA-induced defaults.

[J.Celifarco]

99% of the 10 who were bugging me

I have always been for federal regulation because I was scared of state by state laws that will require different contracts and different paperwork and disclosures depending on what stae it was in.. With a federal law would have been one set of rules across the board we would have adjusted and made it work.. State by state will be a slow bleed and a giant pain in the ass

[Karen37a]

I have always been for federal regulation because I was scared of state by state laws that will require different contracts and different paperwork and disclosures depending on what stae it was in.. With a federal law would have been one set of rules across the board we would have adjusted and made it work.. State by state will be a slow bleed and a giant pain in the ass

it still isnt good

There is a way around this...they really cant turn a purchase of recievables into a loan

its like turning a chicken into a turkey

I think it will eventually be struck down

Like this took 3-5 years to KILL

Dol is officially dead
https://www.investmentnews.com/artic...y-rule-is-dead

Trump rolls back Doody Frankenstien

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

[J.Celifarco]

they are not calling a purchases of receivables a loan they are just saying MCA will fall under this law

[Karen37a]

they are not call a purchases of receivables a loan they are just saying MCA will fall under this law

I think it can be challenged

its like misclassifying "instalment loans" lines of credit ...credit cards etc

They are different vehicles

Regulators do not have a financial background they get confused ..toss their hands in the air and pass laws...it can be overturned

[Karen37a]

Oh, no ****, Karen. But once you have federal regulation in place the state’s back off. But when there is NO regulation in place, and aren’t proactive in shaping the inevitable, you get stuck with a state by state mess.

Who’s shaping it now? Brain-dead populists and the banks protecting their loans from MCA-induced defaults.

I agree with the brain dead populists part and them protecting banks


which is why I lead the charge against BANKS

[Kevin Henry-Seacoast]

I will say this again....regulation in any part of capital markets is inevitable. They are put in place to protect the customer first, the stability of the markets, and then the stability of the market participants/institutions. Institutions are far better off with a federal regulation as it is easier to manage then regulations for each different state. Brokers and referral partner are better off with federal regulation as state regulation management comes with a higher cost to manage. If institutions are forced to manage regulations from each different state, the cost of managing the regulations will cut margins...thus forcing them to cut costs internally and to referral partners.

[Karen37a]

https://www.elastic.com/?gcid=goobre...E&gclsrc=aw.ds

Look at this.. A bank with cash advances charging 50%..

"flexible credit line"

[Karen37a]

I will say this again....regulation in any part of capital markets is inevitable. They are put in place to protect the customer first, the stability of the markets, and then the stability of the market participants/institutions. Institutions are far better off with a federal regulation as it is easier to manage then regulations for each different state. Brokers and referral partner are better off with federal regulation as state regulation management comes with a higher cost to manage. If institutions are forced to manage regulations from each different state, the cost of managing the regulations will cut margins...thus forcing them to cut costs internally and to referral partners.

These are not normal customers . They are shrewd business people who will cut your throat

They are merchants sometimes with bad credit or cash flow issues with a short shelf life looking for money to not pay it back

We need protection from them at times

[Kevin Henry-Seacoast]

These are not normal customers . They are shrewd business people who will cut your throat

They are merchants sometimes with bad credit or cash flow issues with a short shelf life looking for money to not pay it back

We need protection from them at times

Not going to happen. Your defense is to NOT do business with them. Know your customer, know your referral source, and know your capital source.....

[Karen37a]

Not going to happen. Your defense is to NOT do business with them. Know your customer, know your referral source, and know your capital source.....

Its called American Business owners and I am my own referral source at times

I saw it LIVE...my own live samples...no one can dispute it...i lived it....thats why people have to lead from the front...do it and you can teach and see for yourself

They make these bad mca brokers look good sometimes


So the point is Calif doesn't have to protect them like they are a turtle...they will use that to their advantage to con more

its non negotiable it will happen

[Karen37a]

Bad brokers are 1/8th of what the bad merchants are...American Business

They are going UNDER the question is when and whos throat they are going to cut on the way out ..it is not going to be mine or my direct funders


80% of entrepreneurs starting a business fail within the first 18 months. (Forbes)
50% of startups fail after operating for four years. (Statistic Brain)
66% of small businesses will fail within 10 years. (Tutsplus)
50% of small businesses fail after five years. (Small Business Trends)
3 out of 10 new companies “fail to survive” for more than 24 months. (Wasp Barcode)
Only 33% percent of startups reach their 10 year anniversary. (Credit Donkey)
Only 1 out of 5 new businesses survive past their first year of operation. (USA Today)

[Kevin Henry-Seacoast]

Its called American Business owners and I am my own referral source at times

I saw it LIVE...my own live samples...no one can dispute it...i lived it....thats why people have to lead from the front...do it and you can teach and see for yourself

They make these bad mca brokers look good sometimes


So the point is Calif doesn't have to protect them like they are a turtle...they will use that to their advantage to con more

its non negotiable it will happen

Karen-The regulations are not written to protect bad customers. They are written to protect all customers. If you choose to do business with anyone, anyhow, anyway in an attempt to make money, you will get burned. Hence the reason to know your customer, know your referral source, and know your source of capital. Relationships always end the way they start.

[Karen37a]

Karen-The regulations are not written to protect bad customers. They are written to protect all customers. If you choose to do business with anyone, anyhow, anyway in an attempt to make money, you will get burned. Hence the reason to know your customer, know your referral source, and know your source of capital. Relationships always end the way they start.

And no one needs to keep talking about lowering rates below par value OR protecting them( from brokers constantly)...50% of them are liars and frauds

This isnt happy la la land....its money...people will do a lot for 100k including kill their family for a insurance policy

Do we have bad brokers...yes...bad merchants yes...bad funders yes bad politicians yes bad bankers yes

( bad merchants are the largest category ..beating all the others combines 10 fold)

This is just the reality of wall st and finance..I wish it wasn't

Regulation is a bad bad move...people will see why

And lending into that dead pool at certain rates is juvenile and embarrassing ( Its not my money either...i should want low low rates) I just know everyone will go under.