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Disclosure Requirements Commercial Loans Lenders

Venable LLP

Missouri Tells Commercial Financing Providers to “Show Me” Disclosures

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Missouri is the latest state to enact a disclosure requirement for commercial financing, joining the growing number of states that have done the same. California, New York, Utah, and Virginia were the first states to pass...more

Sheppard Mullin Richter & Hampton LLP

Kansas Enacts Earned Wages Access Law

On April 19, less than a month after Wisconsin’s enacted legislation, Kansas has followed suited by enacting comprehensive earned wages access legislation. Kansas’ law is set to take effect immediately upon publication....more

Sheppard Mullin Richter & Hampton LLP

Kansas Introduces New Commercial Financing Disclosure Law

On April 17, the Kansas Legislature signed SB 345, to become the most recent state to enact disclosure requirements for small business lenders. The law’s requirements apply to “providers” which are defined as persons who...more

Womble Bond Dickinson

Maryland House Economic Matters Committee Considers Senate-Passed Commercial Finance Disclosure Law: Consumer Type Disclosures in...

Womble Bond Dickinson on

We recently reported that the Maryland Senate unanimously approved amended Senate Bill 496 – a broad measure proposed to curb perceived commercial lending abuses in Maryland. The bill has moved on to the House of Delegates...more

Venable LLP

New York Commercial Financing Disclosure Requirements

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Providers of commercial financing that are subject to the New York State Commercial Finance Disclosure Law (CFDL) must provide disclosures to potential recipients of commercial financing at the time a specific offer of...more

Venable LLP

California Finalizes Commercial Financing Disclosure Regulations

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The California Office of Administrative Law (OAL) has approved the California Department of Financial Protection and Innovation's (DFPI) final regulations, which require providers of commercial financing, including nonbank...more

Buchalter

California DFPI Publishes Final Commercial Loan Disclosure Regulations

Buchalter on

On June 9, 2022, the California Department of Financial Protection and Innovation (CA DFPI) issued its long awaited final regulations implementing SB 1235’s (2018) new early disclosure requirements on commercial financing...more

Miles & Stockbridge P.C.

State Commercial Finance Disclosure Law Popularity Growing: Truth-in-Lending Type Disclosures in Commercial Loans

We reported last year on New York’s newly enacted commercial finance disclosure law and the legislature’s quick pivot thereafter, expanding the law’s reach to all loans up to $2,500,000 - a change from the previous limitation...more

Miles & Stockbridge P.C.

New York Greatly Expands the Reach of its New Commercial Loan Disclosure Law

In March, we reported on a new law enacted in New York at the end of last year, Senate Bill 5470-B that imposes certain Truth-in-Lending Act modeled disclosure obligations on those making or brokering certain commercial loans...more

Miles & Stockbridge P.C.

Commercial Lender Licensing and Commercial Loan Disclosures in New York

To date, the licensing and disclosure obligations for lenders and brokers of commercial loans, (including commercial mortgage loans and non-real estate-secured commercial or business purpose loans) have not received the...more

Pillsbury Winthrop Shaw Pittman LLP

New York Enacts Novel Disclosure Requirements for Commercial Financing Transactions

Fintechs and other nonbanks will be required to provide consumer-style disclosures when offering to extend small business financing in New York. In late December 2020, New York Governor Andrew Cuomo signed into law...more

Dechert LLP

New EU Securitisation Regulation: Moving in the Right Direction

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The European Commission published a draft regulation on a European framework for simple, transparent and standardised securitisation on 30 September 2015 (the “Draft Regulation”). The Draft Regulation aims to achieve a better...more

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