[capaxess]

"Wipe out all cash advance companies" makes for a good soundbite and headline, but that isn't what he is really looking to do. He wants to get rid of the criminal element and get the industry regulated, so the merchants have a suitable remedy (i.e. arbitration) and the brokers can be regulated and corralled in. Too many bad actors and young spoiled punks floating around who think rules don't apply to them and they can do whatever they want....while helping to tear down the foundations of small business. To be doing this in an election year too?

It's really gangster like isn't it? Basically we have a federal bureaucrat threatening an entire industry along with all of their employees & vendors with elimination. No mention of the thousands of otherwise un-lendable business and THEIR employees who would lose access to capital also. So here we have Uncle Sambino putting the "word on the street" that without due process and because of some unresolved accusations of fraud that IT WILL BE SO! F*$k them.