[OC Funder]

To me, arguing we need to force the use of APR for a universal metric to compare a cash advance to an ABL, lease or mortgage is weak because they're used for completely different reasons. Providers of these products would laugh me off the phone if I called and said I need 30k by Friday to pay my vendors or they'll cut me off, where as cash advance providers fill this need every day. The merchant's use of the money is completely different, the expectations and requirements of the merchant are completely different... how does it create more transparency and less confusion to force a comparison between an apple and a bowling bowl?

Chambo is right, a CA judge disagreed. But the state is pretty lenient about who they'll give a usury-circumventing CFL license to, so it was a pretty shaky soapbox that judge was standing on (not to mention that, save for a few language changes that had no mention of APR, AMI didn't miss a beat).

[FunderGal]

YES MARCUS! Thats old skool closing right there!!!! Love It