New Hires/Promotions in the Leasing Business
and Related Industries

Shila Ray was hired as Chief Financial Officer, SLR Equipment, Wilton, Connecticut. He is located in Westport, Connecticut. "In his position, Ray will play a key role in leading the Finance Team and in shaping portfolio strategies, undertaking investment/financing decisions and communicating with financial institutions/stakeholders."  Previously, he was Global Process Leader/Business Separation Cost Lead-Finance, AIG, (November, 2020 - November, 2024); Chief Financial Officer, Old Hill Partners (2015 - 2017). Full Bio:
https://www.linkedin.com/in/shilaray1/details/experience/
https://www.linkedin.com/in/shilaray1/

Nancy A. Geary, CPA,CLFP, hired by Rinaldi Advisory Services (RAS), a consulting firm specializing in the equipment lease and finance industry, located in Houston Texas. She is located in Northbrook, Illinois. Previously, she was Partner, ECS Financial Services (April, 1984 - Present); Staff Accountant, Charles Zapotocky and Company (January, 1983 - April, 1984). She was recently named to the Certified Leasing and Financial Foundation Hall of Fame.
https://www.linkedin.com/in/nancygeary/

Greg Shannon was hired as Relationship Manager, Technology & Office Automation, Story Credit Financing  Business Loans, SBA Loans, Working Capital, at Verdant Commercial Capital, Cincinnati, Ohio. He is located in Highland Park, Illinois. Previously, he was Regional Sales Manager, Macquarie Group (November, 2020 - November, 2024); Midwest Relationship Manager, TIAA Bank (March, 2014 - November, 2020); District Sales Manager, Wells Fargo Financial Leasing (August, 2011 - February, 2014); Regional Sales Manager, Trilogy Leasing Co., LLC (September, 2008 - August, 2011). Full Bio:
https://www.linkedin.com/in/greg-shannon-bb74b914/details/experience/
https://www.linkedin.com/in/greg-shannon-bb74b914/

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Funders Taking "New" Broker Business List
Five Do Not Require that Brokers Be Licensed

BSB Leasing, Inc.
Bankers Capital
C.H. Brown Company
Forum Financial Services
Leasing Solutions
TimePayment Corp.

The following “funders” have informed Leasing News they will consider business from “new” third party originators.  Many companies require a certain length of time in business and other requirements, such as a specific volume of business.  These “funders” will consider submissions from those new in the leasing and finance business:

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Leasing and Finance Industry Help Wanted
Positions with Attractive Income & Benefits

Trump, Republicans To Take Over in 2025
By Sean Murray, President, Chief Editor, deBanked

With the 2024 election results in, the regulatory and legislative environment for the small business finance industry could shift significantly at the federal level in the coming years. In particular, it will be worth paying specific attention to what happens with the Consumer Financial Protection Bureau (CFPB). As many readers are aware, the largest regulations ever imposed on the small business finance industry, promulgated by the CFPB, are slated to go in effect in July 2025. That date comes after fifteen years (Since Dodd-Frank was passed in 2010!) of delays caused by confusion, debates, and disputes over the CFPB’s right to exist, the meaning of the law’s statute, and court orders pushing it forward or temporarily delaying it. Feelings about the CFPB were so contentious under Trump’s last presidency that the agency temporarily rebranded itself as the BCFP (Bureau of Consumer Financial Protection) as a symbolic gesture of statutory defiance.

The CFPB’s looming oversight of small business finance starting next year had particularly alarmed those in the merchant cash advance space. Its current head, Rohit Chopra, had previously disclosed that his mission was to “wipe out” merchant cash advance companies. He had also said that the structure of their products “may be a sham.” In response, one trade group representing such companies filed a lawsuit against the CFPB earlier this year. That case has not been decided yet. Other segments of the small business finance industry will be watching the CFPB closely in 2025 as well.

Another outcome is that it could mean that individual states that lean the other way politically may become more aggressive. As readers are aware, the stream of disclosure legislation over the last few years all came from the state level. It’s possible that environment starts to accelerate even faster.

Source: deBanked

Sean Murray
deBanked®
President, Chief  Editor
325 Gold Street, Ste 502
Brooklyn, NY 11201
sean@debanked.com

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How American Households Have Changed
Over Time (1960 - 2023)

The composition of American households has shifted significantly since 1960 as fewer people have kids and the scale of economic resources has declined.

Today, the number of households without kids exceeds those with kids, a trend that first emerged in 2014. In addition, single-person households have broadly continued to incline, reaching 29% of the total last year. This figure has more than doubled over the past six decades.

This graphic shows the composition of American households over time, based on data from the Census Bureau.

In 1960, the share of U.S. households that consisted of married parents was 44.2%, which has since dropped by half as of 2023.

More Americans today are delaying or forgoing marriage altogether, with just 20% of women and 23% of men aged 25 being married—the lowest on record. Projections indicate that by 2050, one-third of Americans aged 45 may remain unmarried.

Meanwhile, households consisting of single parents or individuals living alone have doubled over this period, coinciding with the U.S. fertility rate falling to a historic low of 1.6 children per woman in 2023, well below the 2.1 replacement level needed for population stability.

Personal preference plays a significant role in changing attitudes toward parenthood. Among Americans under 50 without children, 57% said they simply didn’t want kids, while 44% preferred to focus on other priorities. Financial concerns also weighed heavily, with 36% citing the cost of raising children—three times the rate among childless people over 50.

Last year, just 16% of homes in America were considered affordable as mortgage rates more than doubled since 2021. This represents a sharp decline from 2013, when 50% of homes were affordable—a shift that is likely shaping household dynamics as rising costs influence Americans’ future choices.

Source: VisualCapitalist

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Trump’s White House Return Signals
Major Shift in EV Policy
By Matthew W. Daus, Esq.

(Image: Reuters)

Trump’s presidency will likely reduce the regulatory pressures on automakers to shift toward EVs, easing stringent emissions rules and revisiting incentives that have fueled growth in the sector. With a Republican-controlled Senate, Trump could set aside provisions within the Inflation Reduction Act (IRA), explicitly targeting clean energy tax credits that incentivize EV purchases. However, industry leaders fear such cuts could weaken the North American auto industry’s competitiveness and decrease demand for EVs.
 
Trump is also expected to tighten trade policies affecting China’s vehicle parts industry, potentially expanding tariffs on imported battery components and related technologies. These actions could bolster domestic production but at the cost of increased manufacturing expenses, as American automakers rely on these components to keep EV costs manageable.
 
Analysts anticipate Trump’s trade policies may lead to further tariffs on EV batteries and a broader application of the Uyghur Forced Labor Prevention Act. While aimed at reducing dependence on China, these measures could disrupt the EV supply chain and increase costs for U.S. manufacturers.
 
Further, the Trump administration may restrict California’s ability to set independent emissions standards, a waiver upheld during the Biden years. California’s standards have set a high bar for zero-emission goals and influenced 17 other states. However, Trump’s proposed regulatory rollback could challenge states’ control over emissions policies, posing a setback to industry-led innovations in green technology.

Matthew W. Daus, Esq.
Partner and Chairman, Windels Marx Transportation Practice Group
President, International Association of Transportation Regulators,
Transportation Technology Chair, University Transportation Research Center
Contact: mdaus@windelsmarx.com
156 West 56th Street | New York, NY 10019T. 212.237.1106 | F. 212.262.1215
 
Source: CBT News
https://www.cbtnews.com/trumps-white-house-return-signals-major-shift-in-ev-policy-trade-and-economic-direction

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### Press Release #########################

Taycor Financial To Become The Vendor Division
Of North Mill Equipment Finance

NOVEMBER 8, 2024, NORWALK, CT – North Mill Equipment Finance, LLC (“NMEF”), a leading commercial equipment lessor located in Norwalk, Connecticut, announced today the acquisition of 100% of the stock of TF Group, Inc., (“Taycor Financial”), a preeminent, technology-driven finance provider in El Segundo, California. Taycor Financial will continue to operate as an independent division of NMEF, with a focus on developing direct and vendor origination programs.

NMEF’s partnership with, and substantial capital investment in, Taycor Financial over the past four years has been instrumental in expanding our commercial footprint" said David C. Lee, Chairman and CEO of North Mill. "As we take this next step to bring our companies even closer, we want to underscore that our dedication to our existing partners remains unwavering. This integration will further empower each division to build on its core strengths – with NMEF committed to nurturing and expanding our referral partner relationships, while Taycor focuses on developing vendor and direct programs.

Michael Hong, President of Taycor Financial, stated, “This partnership with NMEF represents an exciting opportunity to expand our capabilities and enhance our service speed across underwriting, documentation, and funding. While we look forward to leveraging our combined technology and resources, our dedication to exceptional customer care remains at the heart of everything we do. We will continue to operate under the Taycor Financial name with the same steadfast commitment to our clients and partners, fostering strong relationships, and delivering personalized, responsive support.”
About North Mill Equipment Finance (NMEF)

NMEF is a national, premier lender who works with third-party referral (TPR) sources to finance small to mid-ticket equipment commercial leases and loans ranging from $15,000 to $3,000,000 and up to $5,000,000 for investment grade opportunities.  NMEF accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, renovation, janitorial and material handling equipment.  NMEF is majority owned by an affiliate of InterVest Capital Partners.  The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Voorhees NJ, and Murray, UT.  For more information, visit www.nmef.com.  One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans since 2003 from its main office in Las Vegas, NV.  For more information, visit www.britecap.com.

### Press Release #########################

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### Press Release #########################

Sudhir Amembal Announces Sixth Winning
with Leasing Seminar – February 6, 2025

Sudhir Amembal, an affiliate of Rinaldi Advisory Services, announced that his next one-day virtual Winning with Leasing seminar will be held on February 6, 2025.  Five previously scheduled seminars, held between May and October, attracted over 200 equipment finance professionals. Another seminar held exclusively for members of the AACFB, attracted both funding sources and brokers.

The seminar material though primarily geared to those in sales and marketing provides attendees with a birds-eye view into the world of equipment leasing. A substantial amount of time is spent on the 37 extraordinary benefits that leasing offers to customers.

Testimonials from some of the attendees who ranged from newcomers to those extremely well seasoned, from account executives to CEOs, and from the front and back-office included:

"I realized how much of my knowledge I have learned over the years is outdated”; "I have a few more ways to get around customer objections”; and, "I gained the ability to deep dive into the world of leasing".

Sudhir Amembal stated “I am more than delighted that the seminars continue to be relevant and useful. The feedback I have received has been extremely heartening. E-learning has its place; but a live virtual seminar is more meaningful as it is interactive. I continue to keep the fee, $195 per person, at an extremely reasonable level as I do not want cost to be a barrier to attendance".

Amembal, who pioneered lease training, has been honored by our industry in a multiplicity of ways for having led his firm in training over 80,000 equipment finance professionals worldwide, publishing 18 industry books, and providing consultancy services to a host of equipment finance companies.  He chaired the annual World Leasing Conference continually from 1993 until its discontinuance in 2013. He is an inductee in ELFA's Hall of Fame, Monitor Converge 2023 and 2024 Nominee for MVP Behind the Scene, and the first-ever honorary CLFP.

For more information, please contact Sudhir Amembal at (503) 867 5065 or email him at sudhir@amembalandhalladay.com.

#### Press Release ########################

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

As we pay our respects to the men and women who serve in the Armed Forces this Veterans Day, check out our list of recommendations, with titles ranging from the somber to the splashy, from the harrowing to the thrilling.

Pride of the Marines (1945): John Garfield delivers a superb performance in this sensitive portrait of the difficult recuperation period for veterans after the war. Garfield plays real-life U.S. Marine Al Schmid, a former steel worker who falls in love with Ruth (Eleanor Parker), whom he plans to marry until their plans are put on hold after the Pearl Harbor attack. While stationed on the island of Guadalcanal, he’s blinded by a grenade blast while fighting against Japanese forces. Sent back home to Philadelphia, he’s awarded the Navy Cross for bravery but struggles with his new condition, angrily rejecting Ruth in fears that she will only pity him. Acknowledging that battles continue long after veterans return home, director Delmer Daves’ tale of regeneration is intense, moving, and ultimately full of hope.

Paths of Glory (1957): Often (and unfairly) associated with cold, distanced compositions as opposed to strong feelings, master director Stanley Kubrick (“2001: A Space Odyssey”) is at his most emotional in this harrowing classic, which throbs with outrage. Taking place in World War One, the story contrasts the irresponsible orders from military officers with the effect they have on the soldiers in the muddy trenches. When French forces suffer massive losses in an ill-advised attack on the Germans, General Mireau (George Macready) tries to avoid taking the blame by finding scapegoats among the soldiers. Three random privates are selected to be court-martialed, with Colonel Dax (Kirk Douglas) as their passionate but impotent defender. A moving portrait of humanity and madness, it makes a great double-bill with Kubrick’s other war movie, “Full metal Jacket.”

Merrill’s Marauders (1962): The most underrated of the war accounts directed by the great Sam Fuller (“The Big Red One”), this World War Two epic is a characteristically gritty journey. Based on true events, it follows Brigadier General Frank D. Merrill (Jeff Chandler) and his unit of 3,000 American volunteers (nicknamed “Merrill’s Marauders”) through the jungles of Burma on a top-secret mission. Pushing through swampy miles of disease and starvation, to say nothing of enemy Japanese forces, they make their way to Shaduzup as tension grows among the men. Sent on one assignment after another, the platoon experiences extreme danger and confusion, as well as a grain of kindness. Something of a variant of Fuller’s classic “The Steel Helmet” in Technicolor and Cinemascope, the film remains a vivid tale of survival.

1941 (1979): Nearly twenty years before “Saving Private Ryan,” Steven Spielberg serves a rowdy wartime panorama in this rambunctious comedy, originally a box-office disappointment that went on to become a cult favorite. Set shortly after the Japanese attack on Pearl Harbor, the movie unfolds over the course of one day and night as panic spreads across a California town. While a lost Japanese submarine drifts around the bay, Spielberg leaps from one madcap subplot to another. There’s gung-ho pilot “Wild Bill” Kelso (John Belushi) and strait-laced sergeant Frank Tree (Dan Aykroyd) leading the charge, and captain Loomis (Tim Matheson) trying to woo gorgeous secretary Donna (Nancy Allen). With a cast that includes Toshiro Mifune, Christopher Lee and John Candy, this is a breathlessly kinetic farce that plays like a live-action Mad Magazine spread.

Dog (2022): Channing Tatum makes his directorial debut in this affable and touching road movie, which he also stars in. He plays Jackson Briggs, a former U.S. Army Ranger muddling through life as he deals with thwarted opportunities and combat-induced migraines. When he learns about the death of a former colleague, he sets out on a trip to his funeral in Arizona. Along for the ride is an unexpected companion: Lulu, his late friend’s military companion dog. What sounds like a hackneyed excuse for slapstick shenanigans and canine reaction shots turns out to be a humble, honest look at the lives of veterans, done with empathy and genial humor. Having learned from the various capable filmmakers he’s worked with, Tatum serves up a disarming charmer.

Fernando Croce is a nationally recognized film reviewer and has been contributing to Leasing News since 2008. His reviews appear each Friday.

News Briefs

Fed meeting recap: Powell ‘feeling good’ about
   economy, says Trump can’t legally fire him
https://www.cnbc.com/2024/11/07/fed-meeting-live-updates-traders-anticipate-november-rate-cut.html

Higher mortgage rates predicted
after Trump win
https://www.axios.com/2024/11/07/mortgage-rates-housing-trump

The world’s 10 richest people got a record
$64 billion richer from Trump’s reelection
https://www.cnn.com/2024/11/07/investing/billionaires-net-worth-trump-win/index.html

Top 10 trucking policies likely to be
affected by Trump’s return
https://www.freightwaves.com/news/top-10-trucking-policies-likely-to-be-affected-by-trumps-return

Nissan cuts 9,000 jobs and goes
into ’emergency’ mode
https://electrek.co/2024/11/07/nissan-cuts-9000-jobs-and-goes-into-emergency-mode/

Rivian and Lucid shares take
a dive while Tesla soars
https://electrek.co/2024/11/07/rivian-and-lucid-shares-take-a-dive-while-tesla-soars/

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Changes coming to the Fed in a Trump presidency
    American Banker (Subscription Req'd)
https://www.americanbanker.com/news/changes-coming-to-the-fed-in-a-trump-presidency

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Sports Briefs---

Dodgers star Shohei Ohtani has surgery to
    repair labrum tear in shoulder after World Series injury
https://www.pressdemocrat.com/article/trending/dodgers-star-shohei-ohtani-has-surgery-to-repair-labrum-tear-in-shoulder-af/

49ers sneak in trade with Texans
   just before deadline
https://www.sfgate.com/49ers/article/49ers-sneak-in-trade-texans-deadline-19890455.php                                                       

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California News Briefs---

New evacuations issued for Calif. fire
  that has forced 10,000 people to flee homes
https://www.sfgate.com/weather/article/mountain-fire-forces-10000-people-to-evacuate-19897517.php

Mountain fire destroys more than 50 homes,
  5,000 others threatened in Southern California
https://www.latimes.com/california/story/2024-11-07/mountain-fire-ventura-county-homes-destroyed

Investors battle chaos as LeFever Mattson’s
    $400 million real estate empire unravels
https://www.pressdemocrat.com/article/news/lefever-mattson-sonoma-bankruptcy-2/

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Gimme that Wine

 

http://www.youtube.com/watch?v=EJnQoi8DSE8

A shake-up behind the scenes at the Bay Area’s
    premier wine shop
https://www.sfchronicle.com/food/wine/article/k-l-wine-merchants-19875089.php

The Napa Valley Wine Train Awarded $6.4 Million Grant from Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program to Purchase Three New "Green" Locomotives
https://www.winebusiness.com/news/article/294784