[FlexibleCapitalSolutions]

Disclosing APR on a product that doesnt use an apr , but a flat cost.
Definitely a Cuomo move.

hahah anything to help the big banks

[ridextreme]

hahah anything to help the big banks

How would an APR comparison disclosure help the big banks when 99% of our merchants don't even qualify for bank loans?

[FlexibleCapitalSolutions]

How would an APR comparison disclosure help the big banks when 99% of our merchants don't even qualify for bank loans?

Its not one specific law, but think about it, How do you calculate APR on a type of funding where APR cant be calculated ? Yet these funders still have to do it.

I may be mistaken but It feels like the beginning (hopefully not) of burdensome regulation as with every other industry. Like I said I am all for transparency, I have no issue with disclosures but this type of regulation creates added expenses and barriers to entry for the little guy, ultimately the only ones that can afford the lawyers and accountants needed to comply with burdensome regulation are the big guys.