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Sean Murray: If you are a
broker, guess what your life is

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going to change is not just a
box on a contract, the DFS wants

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you to do some very specific
things. Here we go. A broker

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shall not provide a recipient
with a specific amount, rate or

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price quote, for commercial
financing based upon information

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from or about the recipient
until the broker transmits the

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disclosures required by another
section of this particular

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regulation. So, you are not
going to be, this is my non

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lawyer opinion, you are not
going to be allowed to give a

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customer a price quote, until
you've gotten that price quote

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from the founder or lender, and
then you've given a special

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disclosure to the merchant
upfront. And then after you give

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the price quote to that
customer, you then need to

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provide evidence of transmission
of the disclosures to the

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financer including the time of
the transmission. Anytime you

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give a quote to a merchant, it
must be reported to the funder

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or lender, exactly what you said
to them. And when you set it,

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and the quote has to be has to
come from the funders. That's

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what it says. So I know there's
a tendency to look at someone's

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statements and say, let me just
give you a quote based on what I

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have. And then we'll we'll
submit your application and

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we'll find out for sure, this is
kind of saying that you can't do

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that anymore. This quote has to
come from the funder or lender,

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you then need to give them a
very specific disclosure, the

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merchant, right and then after
you give them a quote from the

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funder or lender, you then need
to report it back to the funder

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lender and say, at this time
6:53pm I told him this specific

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quote, just to comply and if
your broker is going to change

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the dynamic of the entire
conversation