Today is like a holiday. I'll mark it down on my calendar and celebrate it each year as the day predatory lenders, abusive funders and sham artist finally caused enough carnage that the government stepped in and bailed out the other guys. The ones who decided to keep their hands in their pockets when everyone else was grabbing without cause. Without legal right. Do I think COJ's are to blame? No. I only blame the guys that decided to use it as a weapon. COJ's have been around a lot longer than Yellowstone and Richmond Capital and served a more important purpose in an MCA than fraudulently filing them to cash and grab from already desperate merchants. They were used to screw the scumbag merchants who didn't pay. The ones who deserved it. Now, that won't be possible, and truly that does suck. For the amount of risk we take on borderline credible merchants, no COJ effectively makes them unfundable. I don't want to hear about "Now Funders need to ACTUALLY underwrite their deals" because that's bull****. A COJ had nothing to do with the underwrite. It was simply there for risk of fraud on a poor scored borrower. Then it became a doc to make a funder more comfortable to give a merchant WAY more money than they deserved, on top of already expensive and toxic MCA debt. Maybe to some this is more like D-Day. To me, it's the beginning of a better potential future for our clients. It's a blessing.