FED changes we think hurt sentiment more than reality. Only about 8% of the company's loans were above the (new) legal limit. It can still grow, and the changes do likely impact competitors more than GSY itself. That being said, it will likely grow slower overall than in the past, at least in the short term with higher rates and (potentially) more credit risk if we see a recession. Thus, the old high of $217 from 2021 may take a long time. But we think two or three quarters of decent growth should be enough to offset much of the panic that occurred with the FED changes.
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