If it's correct that everyone would be affected other than the traditional banks for the most part, than this just further confirms my "conspiracy theory" of big government and big business being partnered together to screw everybody else over, while they further increase their power (crony capitalism).

FinTech is causing some serious disruption to the traditional banking system with P2P guys and some of our A/B guys taking away marketshare directly from the banks, and this is pissing them off. So I'm not surprised to see something like this come up by the cronies in power.

Our industry is far from perfect, with many rogue players out there roaming in the market, but those rogue players are NOT the major volume producers in our industry.

- These fly by night, Piggyback Capital and Stacks R Us funding companies doing 4th - 11th stacked positions, are not heavy volume producers.

- These fly by night Uncle Joe Broker shops charging $400 - $1,000 to the merchant for "app fees" are not heavy volume producers.

The heavy volume producers are very much those that we hear about the most in the media and within our industry's own publication resources, in relation to the significant amount of volume they are doing. Many of them are directly partnered with traditional banks.

As a result of that, there's no reason for our entire industry to be pushed out due to "rogue players", other than trying to use the small percentage of our industry as an excuse to eliminate true free market competition.

If it's correct that everyone would be affected other than the traditional banks, than this is nothing but crony capitalism.