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######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.

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New Hires/Promotions in the Leasing Business
and Related Industries

Brekyn Anderson was promoted to Vice President, Funding Documentation, Paramount Financial, Scottsdale, Arizona, where she is also located. Previously, she was Funding Manager (June, 2014 - December, 2025); Funding Coordinator, Mintaka Financial (November, 2018 - September, 2019).
https://www.linkedin.com/in/brekyn-anderson-b63a70103/

Mike Cornacchia retired as Account Executive, Dell Financial Services. ("After a very successful nine year run at Dell Financial Services and over 35 years in the Equipment Finance Industry, I have officially retired to spend more time with my 100- year- old mother, my beautiful girlfriend (and our combined six grandchildren), and more time on the golf course! It has been a fun ride!). He is located in the New York City Metropolitan Area after spending the last nine years, 3 months at Dell. Previously, he was Vice President, MB Financial Bank (2014 - 2015); Regional Finance Manager, Siemens Healthineers (2002 - 2013).
Full Bio:
https://www.linkedin.com/in/mike-cornacchia-4397321a/details/experience/
https://www.linkedin.com/in/mike-cornacchia-4397321a/

David Falcon was hired as Junior Credit Analyst, 360 Equipment Finance, Austin, Texas, where he is also located. Previously, he was Vehicle Operations Specialist, Rivian (November, 2024 - December, 2025); Team Member, Chick-a-fit-A Restaurants (July, 2021 - August, 2023); IT
Assistant, Orion Novotus, Austin, Texas Metropolitan Area (May, 2018 - August, 2018).
https://www.linkedin.com/in/david-falcon-705bb0262/

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Big Shift at the CFPB:
MCAs May Be Out of Section 1071—for Now
By Marshall Goldberg,
Glass and Goldberg, ALC
Leasing News Chief Legal editor

In a significant and unexpected shift, the Consumer Financial Protection Bureau (CFPB) has released a new proposal that would remove Merchant Cash Advances (MCAs) from the scope of its Section 1071 data-collection requirements. This marks a major reversal from the Bureau’s 2023 final rule, which treated MCAs as a form of “credit” subject to ECOA’s small business lending data-reporting obligations.

The proposal appears in a 198-page rulemaking package that rethinks the CFPB’s prior approach to the MCA industry, particularly in light of the product’s unique structure, the evolving regulatory environment in various States, and the potential operational challenges of collecting MCA-specific data under Section 1071.

The CFPB now believes that, in the initial rollout of Section 1071, it should focus on foundational small-business credit products: loans, lines of credit, and credit cards.

MCAs, the Bureau explains, are structurally different. Traditional lending concepts, such as interest rate and amortization, do not cleanly translate to the sales-based financing model. The CFPB is concerned that including MCAs at the outset might generate confusing or non-comparable data that would not meaningfully advance Section 1071’s statutory purposes.

Accordingly, the Bureau proposes adding MCAs to the list of excluded transactions under § 1002.104(b), alongside agricultural lending and certain small-dollar loans.

Why the Change Now?

According to the CFPB, five factors justify its proposed reversal:

Focus on core lending products first.
Reassessment of whether MCAs meet ECOA’s definition of “credit.”
Structural differences between MCAs and traditional loans.
Significant State-level regulatory developments.
Risk of low-quality or inconsistent data from MCA reporting.

Taken together, the CFPB concludes that excluding MCAs at this time is “necessary and appropriate” to carry out Section 1071’s purposes.

What Happens Next? The CFPB Wants Comments,
especially from MCA Providers.

The CFPB is seeking comment on:

How MCAs differ from or resemble traditional loans;
The diversity of MCA structures and whether some subsets should be treated differently;
Whether certain MCA types are more appropriate for inclusion or exclusion;
Whether alternative definitions of MCA should be used in § 1002.104(b)(7); and
If MCAs are not excluded, how the 2023 rule should be modified to account for them

According to the Federal Register, all comments—whether submitted by individuals, organizations, or anonymously—will be reviewed by the agency, though some may be redacted or withheld from public posting until formally cleared. The comment portal remains the primary way to provide feedback on the proposal. Here is the link for submissions:

https://www.regulations.gov/commenton/CFPB-2025-0040-0001.

For those considering submitting a comment, it may be worthwhile to coordinate with an industry trade association to ensure that perspectives are aligned and that the industry’s position is presented in a consistent and effective manner.

Importantly, the CFPB states that it will continue to monitor the MCA and sales-based financing markets to determine whether a subset of products may eventually be included in the definition of “covered credit transaction.”

Bottom Line

This is a major development for MCA providers and for financial institutions navigating Section 1071 implementation. If the proposal is finalized, MCA companies would not need to collect or report small-business lending data during the initial rollout of the rule.
Given the CFPB’s request for feedback, the industry now has a critical opportunity to shape how MCAs are treated under federal law going forward, whether as sales-based financing, credit, or something in between.

GLASS & GOLDBERG, ALC
22917 Burbank Blvd.
Woodland Hills, CA 91367-4203.
(818) 888-2220
mgoldberg@glassgoldberg.com

Regards
Marshall Goldberg

(Selected for Inclusion in 2026 SuperLawyers Magazine-17th consecutive year)

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T
The above is a full update of Mr. Goldberg's Monday article where he sequestrated the state request:

Many submissions have already been filed, most of which are accessible online. Regulations.gov:

Monday Article:
https://leasingnews.org/archives/Dec2025/12_08.htm#follow

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Channel Strategic Growth Delivers $1B Milestone
and ABS Upgrades

Channel proudly announces a major milestone in the growth and performance of its Equipment Finance (EF) platform, surpassing $1 billion in originations in under four years.

Adam Peterson, CEO of Channel, said, “This team built the EF product from scratch and crossed a billion dollars in originations in just four years, an extraordinary accomplishment by any measure.

“The continued positive response from investors, including the recent upgrades from KBRA, reinforces the stability and strength of what we’re building. We’re energized by the momentum and look forward to further leveraging the ABS marketplace as we scale with discipline and purpose.”

He states “This milestone reflects Channel’s ongoing commitment to delivering high-quality, well-structured opportunities to its investor community while continuing to support small businesses nationwide with reliable, accessible financing solutions.”

Built de novo beginning in late 2019, the EF division moved from concept to soft launch in 2020, officially entering the market in early 2021. Without acquiring a portfolio or inheriting legacy assets, the team designed and executed theentire product from the ground up including credit strategy, processes, technology, and partner relationships. Since launch, the platform has scaled rapidly and responsibly, crossing the $1B in originations threshold through disciplined execution, strong credit performance, a deepened partner network, and a commitment to thoughtful, responsible
growth.

Channel’s financial strength and consistency were further highlighted by recent upgrades issued by Kroll Bond Rating Agency (KBRA). KBRA upgraded two classes of notes on Channel’s 2022 ABS transaction and upgraded three classes of notes and affirmed one class of notes on its 2023 ABS transactions. These positive rating actions reflect solid credit support, strong investor confidence, stable asset performance, and the company’s commitment to rigorous, transparent portfolio performance. These upgrades follow a series of successful ABS issuances that have broadened investor relationships and strengthened Channel’s market position.

Help Wanted Ad
Ameris Bank Equipment Finance

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Roadmap for Bold Plan and
Executable Strategy
By Scott Wheeler, CLFP

As we approach year-end, originators across the commercial equipment finance and leasing industry are finalizing their business plans and submitting goals for 2026. This exercise should never be taken lightly. Originators will produce what they personally expect—and what they are truly committed to deliver.

A written roadmap is the first step toward exceptional results. But it must go beyond numbers. Consider these critical elements as you craft your 2026 strategy:

    Don’t just pick a production number. Define the daily activities, disciplines, and behaviors required to reach your goals. Success is built in the trenches—one intentional action at a time.
    Think strategically. How does your 2026 plan align with your long-term career aspirations? Does it stretch you? Does it elevate your trajectory?
    Reflect on past performance. Where have you limited yourself? What patterns held you back—and what could you have done differently? Identify the lessons learned and commit to leveraging them in 2026.

“ Ask what “must be true” to double, triple, or quadruple your results. Think boldly. Don’t settle for incremental growth when exponential opportunity is within reach.”

Every year, originators ask me to review their plans. I’m often surprised by the limitations they place on themselves—plans aligned with mediocre company expectations rather than bold personal ambition. But I’m equally inspired when top performers think outside the box, present detailed strategies, and pursue opportunities that elevate both their careers and their company's market positioning.

The difference is mindset.
The difference is ownership.
Success doesn’t happen by accident.

It starts with a bold plan—and a strategy you’re committed to execute.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

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$500K Boost Powers Young Entrepreneurs
Beverage Breakthrough

Sallyport Commercial Finance is excited to announce a $500,000 Factoring Facility for a rapidly growing natural energy drink company making major strides across North America.

Sallyport’s Patrick Zazueta commended the achievements of two young entrepreneurs:

“Founded by two young entrepreneurs while attending college in Victoria, BC, their ambition, tenacity and passion for their natural drink product opened doors for them in Target stores across the U.S. - an impressive feat! Sales throughout Canada and the US will continue to grow through distributor relationships in 2026 and beyond.

“We’re proud to champion this inspiring female-founded brand as they build momentum across North
America. Here’s to scaling smarter, faster and with the right partners in place.

"Referred by a trusted broker partner, this innovative beverage brand was recently awarded national
distribution with Target in the U.S. - a milestone that brings tremendous opportunity, but also the need for fast, reliable working capital. With increased production demands and long retailer payment terms, the company needed a flexible funding solution to support its next stage of expansion.

"Our facility is being used to stabilize cash flow, support upfront production costs and ensure the business can confidently meet rising order volumes. Looking ahead, the company aims to expand its product line across Target stores nationwide while deepening relationships with major distributors in Canada.

“Sallyport was selected for our cross-border funding capability, allowing us to seamlessly support their
operations in both the U.S. and Canada. In 2026, our aligned production finance partner will join the
capital stack to provide additional supply-chain financing as purchase orders continue to scale.”

https://sallyportcf.com/

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The Real Purchasing Power
of $100 by U.S. State

Key Takeaways

The same amount of cash goes 30% further in Arkansas than it does in California.

By looking at the real purchasing power of $100, we can get a sense of how cost of living varies among U.S. states.

Is a dollar in your pocket the same in Albuquerque as it is in New York City?

In Arkansas, $100 actually goes much further than normal, providing $113.49 of real purchasing power.

In California, it’s the opposite case, where a hundred-dollar bill is only really worth $87.42. In the case of California and other expensive states, purchasing power is eroded by the high cost of living, local taxes, and other factors that prevent you from making the most of your money.

The face value may be the same but, in reality, that dollar just goes further in certain metro areas and states.
High Income ≠ High Purchasing Power

Here’s one interesting takeaway: many of the highest-income states, such as California, New Jersey, Massachusetts, Hawaii, also rank among the worst for real dollar value.

Massachusetts has a six-figure median income, but $100 only buys $92 worth of goods. Meanwhile, Iowa and Kansas have more modest incomes, but a dollar goes almost 25% further than in an expensive state like Massachusetts.

This shows that higher wages in coastal states are partially or completely eaten by cost of living premiums.

The Affordability Belt
Looking at the map, there is a clear “affordability belt” that can be seen visually.

In the Mountain West, Midwest, and South—including Idaho ($108.58), Montana ($109.76), Louisiana ($111.66), Ohio ($108.19), and West Virginia ($110.23)—each dollar goes a little further.

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The data from GOBankingRates uses publicly available federal datasets such as those from the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Affairs, and the U.S. Census American Consumer Survey to do the calculations.

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