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07-23-2013, 03:55 PM #3
- Join Date
- Sep 2012
- Posts
- 199
I think the big grey area in the legal department is the fact that an MCA is a purchase and sale of credit card receivables and firms like IOU are doing true loans. MCA's don't legally impede loans. Any merchant can go get a loan from a bank with an mca in place. A loan from IOU is no different.