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Johny Fernandez: Alright, so the
last topic of conversation. It's

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regarding a ban from the MCA
industry. Yes. This is regarding

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an alleged small business
financing scheme from RAM

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capital funding. They've been
permanently banned from the MCA

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space and debt collection
industries. So little

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background, they are required to
pay $675,000 to the FTC charges.

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Some of the charges pretty much
say that the decepted use, that

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they use deceptive any legal
means to seize assets from small

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businesses, nonprofits and
religious organizations. So you

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have to see a list that since
2015, they deceive small

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businesses and other
organizations. And yeah, they're

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banned from the industry.

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Sean Murray: Yeah. So this whole
thing is quite interesting. We

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have not seen a government
regulator ban. Someone from the

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industry. Yeah. What I feel like
that's, you don't really Yeah,

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you know, what's, you know,
what's crazy about it is usually

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when people say, hey, you know,
they've been banned from the

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industry, they're talking about,
like, indirectly,

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Johny Fernandez: like, But this
is like a government agency

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telling me,

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Sean Murray: Well, yeah, the
the, you know, it'll be like,

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it'll be so expensive to
continue. Yeah. So it's

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effectively a ban. Right? Or
they said they had to agree to

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something that would, that would
make basically make it

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impractical to continue
operating in the space. But this

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is an order from the Federal
Trade Commission. I don't know

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if you can see it, it actually
says the word ban. Yeah, in the

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order. It actually says, hey,
you're banned. And then if you

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read underneath the word ban,
and in the big title, it says,

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therefore ordered that settling
defendants whether acting

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directly or indirectly, are
permanently restrained and

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enjoined from that they can't
even advertise market, promote

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it offer it provide it arrange
for it or assist in anything in

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related to it. Yeah. They can't
be like, Okay, we just won't be

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a funder we'll be a broker now,
they're we'll just be, you know,

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a lead company. Yeah. Now, it's
says you are banned from the

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whole thing entirely. Now,
granted, this is part of a

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settlement agreement. Right. So
this wasn't like a judge decided

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I hereby order you to be banned.
Right. So the the defendants in

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this particular order consented
to Yes. And I think that the

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Federal Trade Commission, they
were the ones who brought the

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suit. They worded it like that
intentionally? Because it

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certainly sends a strong
message. Yeah, it wasn't that it

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was, you know, it'l be too
expensive to continue on No,

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like, No, you are hereby banned,
banned, banned from the industry

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in basically every way that they
could think of they threw at

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every type of term, you know,
that would that would involve

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somebody in the industry itself.
And so if you're wondering,

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wait, what's the background?
What are you talking? How did

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someone get baned with, this
Federal Trade Commission stuff

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about the FTC, which typically
protects consumers got very

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active in looking at small
business financing, probably in

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the life last two years? And
they said, We're going to be

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looking at the industry very
closely. Yeah. And they came out

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and they filed a couple lawsuits
against some players in it. And

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in this particular one, there
was there was a settlement

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between I guess it was two of
the defendants in the FTC, and

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which they consented to being
banned. Yeah. Now the fine. You

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said it was like 600 $675,000.
So, that amount? That amount is

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low. Yeah. You know, respective
to the circumstances. But I

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think the message that was sent
is the banned. I don't think

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anyone has ever seen a banned,
especially not a court order

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that says your banned, you know,
I just can't say that word

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enough, because

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Johny Fernandez: I feel like
it's like a scarlet letter like

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your, your banned. Well, let me
ask you this. If they decide,

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let's say, this is all
hypothetical, we're not lawyers.

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We're just speculating here. If
the owner decides to start any

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business, you, you know, just
start from scratch all over

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again.

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Sean Murray: Could he do that?
no Okay. No he's banned.

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Johny Fernandez: He's, He's
personally banned.

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Sean Murray: He's personally
banned in the company, he worked

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for is banned.

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Johny Fernandez: So they're
banned. There's no way they can

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get back.

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Sean Murray: Hey, look, I'm not,
I have a feeling that it

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probably wouldn't be a good
idea. Again, as a non lawyer

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reading the language, it's very
plain, you're banned. They

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describe all the different ways
one could operate in the

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business. It applies to the
person individually, whether

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they create a new LLC or not, as
it seems to me, that it is, you

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know, it is a ban, just like
just just as anyone would

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understand it yet. I mean, that
ban of the ban the banned. I

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don't know, I don't know, this
company. I didn't know them

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really beforehand, and I might
have heard the name thrown

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around. I don't have any
personal opinion as to who they

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are, what they did or anything
like that. The only thing that I

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know about it is that the end
result of the lawsuit with the

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Federal Trade Commission was
that they are banned. And they

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did a whole press release about
it saying that they are banned

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from the ban from the merchant
cash advance industry. Very,

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very unique way to end the case.
Very interesting outcome. If

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you're out there wondering,
okay, you know, how did this

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apply to me? Just know that the
Federal Trade Commission you're

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watching, yeah. And what they
govern, they govern, they govern

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things that are untruthful. So
if you're making false claims,

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or deceptive claims, if you're
telling people with a 99%

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approval rate, and there's not
the FTC could come after you,

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right? If you're giving a bait
and switch, they could come

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after you if you misrepresent
the cost. They can come after

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you if you collect more money
than you're supposed to. Come

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after you right. If you're doing
anything deceptive

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misrepresented risk mis
representative of what you're

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actually offering the FTC, the
federal regulator can come after

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you not criminally, but civilly.
Yeah. And the end result of such

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of such a thing is I'm sure
they've spent tons of money and

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litigation to get to that point.
And at the end of the day, what

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happened? They got the head