What does this mean for The Cash Advance Industry?
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  1. #1
    Veteran Reputation points: 135029 Chambo's Avatar
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    What does this mean for The Cash Advance Industry?

    Federal law enforcement officials are investigating whether nearly $90 million in bank loans to a Bohemia finance company

    Oak Rock specializes in a variety of businesses that involve credit -- in effect, borrowing money from banks and then loaning the money to other lenders or businesses or financing its own credit transactions.

    Jerome Reisman, a Garden City attorney who is representing AmeriMerchant LLC, a firm that borrowed from Oak Rock to advance to merchants, said the matter has the potential to dry up credit for some consumers and merchants.

  2. #2
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    it means nothing. They lent to a mid-sized mca funder that can get money from whoever they want.



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