Results 1 to 6 of 6
-
04-13-2021, 09:04 AM #1
- Join Date
- Apr 2015
- Posts
- 300
bye bye ny bye bye cali
so by January 2022 no one will be able to fund in new york and california. are the days numbered?
-
04-13-2021, 09:23 AM #2
- Join Date
- Aug 2020
- Posts
- 144
No, they're not and there will still be many funding in NY and CA regardless of any APR disclosures. What happened in MD shows that states aren't looking for a total ban of MCA.
Once the rules are finalized everyone will scramble to set up their contracts so they're compliant.
-
04-13-2021, 09:39 AM #3
- Join Date
- Feb 2016
- Posts
- 242
-
04-13-2021, 09:51 AM #4
- Join Date
- Feb 2018
- Posts
- 1,349
anyone remember the $64M settlement in Cali by Rewards Network for violations of state usury and unfair business practices? More than 3,000 business operators and forced the funder to forgo collection of about $36M in RTR?
or how about advanceme (can capital) that had to add language to their contracts as part of the settlement in Cali ?
call Hudson Cook to get your contracts reviewed for these states. several funders went to the rent a bank model to bypass these issues.
-
04-15-2021, 01:18 PM #5
-
04-15-2021, 08:59 PM #6
Similar Threads
-
Cali merchant
By brokerCompany in forum Deal BinReplies: 3Last Post: 05-21-2020, 03:10 PM -
Contractor IN CALI
By brokerCompany in forum Merchant Cash AdvanceReplies: 0Last Post: 10-29-2018, 06:28 PM -
$2M request CALI
By brokerCompany in forum Business LoansReplies: 8Last Post: 09-24-2018, 09:26 AM -
super G out of Cali?
By John Galt in forum Merchant Cash AdvanceReplies: 12Last Post: 08-26-2016, 12:00 PM -
cali law effect jan 1 requires brokers of cali paper to be licensed now?
By ADiamond in forum Merchant Cash AdvanceReplies: 3Last Post: 02-03-2016, 11:59 AM