[alexd12345]

Has anyone else read this?


https://www.consumerfinancemonitor.c...isclosure-law/

Apparently Cuomo enacted a law that states that all loan / financing (Including MCAs) are going to be required to list the APR attached to each deal.

What do you think that will mean for the MCA industry?

Cuomo misrepresented how many people he killed during Covid.... what do you think that will mean for Cuomos ability to enact laws?

[Yonah E]

Unfortunately for us, Cuomo's poor governing history during Covid doesn't really affect this new law. Seems like it's a real law that has been approved.

[alexd12345]

Unfortunately for us, Cuomo's poor governing history during Covid doesn't really affect this new law. Seems like it's a real law that has been approved.

lol correct... however its just a disclosure requirement not a rate cap. The merchants will now be aware how crappy the deal is . Just makes it a tad harder to close but they will still need the money so dont see it being too big of an obstacle.