News & Analysis as of

Financial Institutions Disclosure Requirements New Legislation

Venable LLP

New Commercial Financing Requirements Become Effective in Connecticut and Kansas

Venable LLP on

Over the past several years, many states have considered and enacted requirements requiring commercial financing providers to give disclosures when extending commercial financing....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

Troutman Pepper

Kansas Becomes Fourth State to Enact Earned Wage Access Legislation

Troutman Pepper on

On April 19, Kansas Governor Laura Kelly signed House Bill (HB) 2560 to regulate earned wage access (EWA) products and services. HB 2560 enacts the Earned Wage Access Services Act that requires EWA providers to be licensed by...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

Mayer Brown

Connecticut and Florida Join the Fray, Enact Commercial Finance Disclosure Laws

Mayer Brown on

Following closely on the heels of a Georgia law enacted in May, Connecticut and Florida have become the latest states to enact laws requiring providers of small business financing to provide disclosures to recipients—and in...more

Buchalter

Florida Enacts Commercial Financing Disclosure Law, Mandatory Compliance Date January 1, 2024

Buchalter on

Florida has enacted its own Commercial Financing Disclosure Law (“CFDL”) that is similar to California and New York’s disclosure laws. The Florida CFDL applies to covered “Commercial Financing Transactions” consummated on or...more

Troutman Pepper

Connecticut Becomes Latest State to Enact a Commercial Financing Disclosure and Registration Law

Troutman Pepper on

On June 28, Connecticut Governor Ned Lamont signed into law Senate Bill 1032 entitled An Act Requiring Certain Financing Disclosures, which requires certain providers of commercial financing to make various disclosures and...more

Troutman Pepper

Florida Enacts Commercial Financing Disclosure Law

Troutman Pepper on

On June 26, Florida Governor Ron DeSantis signed the Florida Commercial Financing Disclosure Law (FCFDL). As discussed here, the FCFDL mandates that covered commercial financing companies provide consumer-like disclosures for...more

Latham & Watkins LLP

Florida Law to Restrict the Use of Certain ESG Factors by Asset Managers and Financial Institutions

Latham & Watkins LLP on

The legislation mirrors anti-“industry boycott” legislation introduced or passed in other US states and provides more explicit rubrics of prohibited factors. On May 5, 2023, Florida Governor Ron DeSantis signed into law...more

Pillsbury Winthrop Shaw Pittman LLP

New York Finalizes Disclosure Requirements for Commercial Financing Transactions

New York has joined California and several other states in finalizing regulations requiring consumer-style disclosures for broad categories of commercial financing transactions....more

Manatt, Phelps & Phillips, LLP

Utah Enacts Commercial Finance Disclosure and Registration Law

Merchant Cash Advance providers, commercial litigation funders, online SMB lending platforms and other nonbank small-business lenders, take note: Following the lead of California and New York, Utah is now the third state to...more

Moore & Van Allen PLLC

Advisory: Canada Designates Proud Boys a Terrorist Entity

Canada has designated the Proud Boys as a terrorist entity, meaning that banks and other financial services providers will no longer be allowed to deal with or facilitate transactions concerning property controlled by the...more

ArentFox Schiff

Piercing the Corporate Shell: New Legislation Will Force Anonymous Shell Companies to Disclose Their True Owners

ArentFox Schiff on

Three months after a leak and investigation into over $2 trillion in suspect transactions at the world’s largest banks and financial institutions, known as the “FinCEN Files,” Congress passed legislation that would require...more

Ballard Spahr LLP

West Virginia enacts significant amendments to debt collection law

Ballard Spahr LLP on

Significant changes to West Virginia’s debt collection law will take effect on July 4, 2017.  Senate Bill 536, approved by the state’s governor on April 21, 2017, includes the following amendments...more

14 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide