1
00:00:00.115 --> 00:00:02.765
Welcome to the 2020 5G Bank Connect in Miami.

2
00:00:03.065 --> 00:00:04.805
I'm now joined with Steven Zacharia

3
00:00:04.955 --> 00:00:06.645
with Empire Recovery Solutions,

4
00:00:06.655 --> 00:00:08.445
who's a sponsor this year. That's right.

5
00:00:08.555 --> 00:00:11.085
Yeah. Love coming here. Been coming since 2018,

6
00:00:11.615 --> 00:00:13.085
sponsoring for the last few years.

7
00:00:13.395 --> 00:00:14.605
Love connected with new clients.

8
00:00:14.705 --> 00:00:16.365
Old clients growing every year.

9
00:00:16.365 --> 00:00:17.405
Really happy to see you guys grow.

10
00:00:17.855 --> 00:00:19.685
We're always a very appreciative to you.

11
00:00:19.705 --> 00:00:21.765
So how are things going so far this year? It's great.

12
00:00:21.835 --> 00:00:24.125
Yeah. Business is great. Collection's doing well.

13
00:00:24.125 --> 00:00:26.005
Fortunately. Not too many defaults for a lot

14
00:00:26.005 --> 00:00:28.485
of our clients, so that's great. So business is good.

15
00:00:29.105 --> 00:00:31.005
And how do you see things going for the rest of this year?

16
00:00:31.525 --> 00:00:33.525
I think it's, I, I see the industry continue to grow.

17
00:00:34.145 --> 00:00:35.885
Um, fortunately, defaults are gonna grow,

18
00:00:35.885 --> 00:00:37.565
but we're always here to back up our clients

19
00:00:37.585 --> 00:00:38.805
and make sure they get their money back.

20
00:00:39.425 --> 00:00:42.285
We, they appreciate having you have their back. Of course.

21
00:00:42.685 --> 00:00:44.085
Absolutely. So

22
00:00:44.085 --> 00:00:45.725
where do you see things going for the rest

23
00:00:45.725 --> 00:00:47.005
of the year? We're only two months in,

24
00:00:47.705 --> 00:00:50.125
Uh, I, you know, continued growth, you know,

25
00:00:50.165 --> 00:00:53.165
I see on the legal side of things, I see more regulation.

26
00:00:53.265 --> 00:00:55.125
You know, I see a lot of disclosures coming out

27
00:00:55.125 --> 00:00:56.965
through the pipeline in various states.

28
00:00:57.285 --> 00:00:58.805
I think we're up to about 10 or 12 different

29
00:00:58.805 --> 00:00:59.885
disclosures in a few states.

30
00:01:00.225 --> 00:01:03.125
And as more states come online with disclosures,

31
00:01:03.585 --> 00:01:06.405
the more states are gonna have to start, uh,

32
00:01:06.405 --> 00:01:08.685
sending out disclosures to different, different funders.

33
00:01:08.865 --> 00:01:10.725
So there's gonna be more compliance, more regulation,

34
00:01:10.725 --> 00:01:11.765
but it's all good for the industry.

35
00:01:12.325 --> 00:01:13.685
Industry's been growing over the last 10 years,

36
00:01:13.985 --> 00:01:15.125
and now it's time for the industry

37
00:01:15.125 --> 00:01:16.165
to become a little more established

38
00:01:16.165 --> 00:01:18.685
and a little more, you know, a little more regulated.

39
00:01:18.795 --> 00:01:19.845
It's unfortunate reality.

40
00:01:20.225 --> 00:01:22.165
So even though it's a little more paperwork, it's,

41
00:01:22.195 --> 00:01:23.245
it's good regulations

42
00:01:23.265 --> 00:01:24.645
and good things that are changing, right?

43
00:01:24.645 --> 00:01:25.925
It pushes out the bad actors.

44
00:01:26.645 --> 00:01:28.125
Ultimately, any industry that grows to the point

45
00:01:28.125 --> 00:01:30.005
where you're funding billions of dollars every year,

46
00:01:30.185 --> 00:01:31.525
you're going to have regulation.

47
00:01:31.525 --> 00:01:34.765
You're gonna have lawmakers breathing down to your necks.

48
00:01:35.385 --> 00:01:37.205
As far as disclosures, I think it's a good thing.

49
00:01:37.385 --> 00:01:38.885
You know, it pushes out the bad actors

50
00:01:38.945 --> 00:01:40.845
and allows the merchant see exactly

51
00:01:40.845 --> 00:01:42.685
what they're signing in a little one page document.

52
00:01:42.875 --> 00:01:43.765
It's a good thing. It's a good

53
00:01:43.765 --> 00:01:44.645
thing for the funders as well.

54
00:01:45.205 --> 00:01:47.165
I like that you say it gets rid of the bad actors.

55
00:01:47.385 --> 00:01:49.725
We, we don't need bad apples, bad actors. Nothing bad.

56
00:01:49.865 --> 00:01:51.405
All good. Coming to this year. That's,

57
00:01:51.405 --> 00:01:53.405
That's the beauty of this, this conference.

58
00:01:53.785 --> 00:01:54.805
All the good actors are here.

59
00:01:54.805 --> 00:01:56.165
The bad actors don't show their face.

60
00:01:56.685 --> 00:01:59.165
I like that. Yeah. Well, we're happy you showed your face.

61
00:01:59.605 --> 00:02:01.685
Absolutely. And there's still more to come from Miami.