Small business owners could have better financing opportunities than predatory cash loans
By Hicbd
Mon Nov 1 2021 8:40 am
"Because the industry lends to small businesses, not individuals, consumer laws and protections generally don’t apply, and the Consumer Financial Protection Bureau has never asserted jurisdiction. Just as they avoid usury rules, companies sidestep almost all state licensing requirements by saying their products aren’t loans. California regulates some cash-advance companies, but many operate there without a license."
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