[FlexibleCapitalSolutions]

We have the members of the ILPA, https://innovativelending.org/, for lobbying this into existence. They have forced us all to use the same disclosure yardstick for loans and MCA's, even though it apples and oranges and likely to create more confusion than clarity.

But the NY law is very similar to California's upcoming disclosures regs. Starting this summer all CA & NY contracts will have a new disclosure page added. But it's a need driven product, so we can live with disclosure, as opposed to Maryland's proposed prohibition.

The more interesting question is how these disclosures are going to impact professional services fees? Will funders be forced to disclose separate PSF charged by ISO's? What if a ISO doesn't disclose a PSF?

Agreed transparency is fine by me, but Maryland type prohibition is scary, they are cutting off lifelines for businesses that don't have great credentials especially after a year like 2020 that is a big chunk of the businesses.