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Connecticut and Kansas recently joined California, New York, Florida, Utah, Virginia, and Georgia in enacting laws requiring lenders to provide consumer-like financing disclosures for certain commercial financing transactions. Like other [...]

Over the past several years, a number of states have considered and enacted laws requiring commercial financing providers to give disclosures when extending commercial financing. These disclosures would cover not [...]

Mere days before Halloween, California enacted California Senate Bill 666, imposing a set of restrictions on the fees that commercial financers may charge their small business customers. Signed by the [...]

Listen to this post Recently, the California Department of Financial Protection and Innovation (DFPI) approved the final rule implementing and interpreting certain sections of the California Consumer Financial Protection Law [...]

There are several key banking considerations to keep in mind when setting up a business in the UK to ensure transparency, proper record-keeping, and compliance with financial regulations. When setting [...]

Providers of commercial financing should take note that Georgia has become the fifth US state to enact small business financing disclosure requirements since California started the trend in 2018. Georgia [...]

Georgia has become the fifth US state to enact small business financing disclosure requirements since California started the trend in 2018. Georgia Senate Bill 90 [pdf] was signed by Governor [...]

Listen to this post On March 28, the CFPB issued a preemption determination that that TILA does not preempt commercial lending disclosure regulations enacted in California, New York, Utah, and [...]

Listen to this post On March 17, the FTC announced its inquiry into the small business credit reporting industry. In particular, it is ordering five firms to provide detailed information [...]

On February 1, 2023, the New York State Department of Financial Services (DFS) adopted final regulations relating to New York's Commercial Finance Disclosure Law (CFDL), which requires providers of commercial [...]

Merchant Funders, companies that purport to purchase future accounts receivables from small underfunded private and public companies, and their attorneys, should pause from patting themselves on their backs due to [...]

TAKEAWAYS On February 1, 2023, New York's Department of Financial Services promulgated a final rule that requires consumer-style disclosures for commercial financing transactions. New York's regulations follow similar regulations issued [...]

Small business financers and brokers active in New York must comply with New York's Commercial Finance Disclosure Law ('CFDL') by August 1, 2023, according to the new effective date the [...]

Small business financers and brokers ('providers') active in New York are officially on notice to finalize their preparations to comply with New York's Commercial Finance Disclosure Law ('CFDL') by August [...]

On June 9, 2022, the California Office of Administrative Law approved the Department of Financial Protection and Innovation's final regulations implementing California's first-of-its-kind commercial financing disclosure law. The regulations take [...]

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 [...]

Utah has followed California and New York by enacting its own Truth in Lending-like commercial financing disclosure law, but with an additional twist-Utah's new law has a registration requirement. On [...]

Utah has followed California and New York by enacting its own Truth in Lending-like commercial financing disclosure law, but with an additional twist-Utah's new law has a registration requirement. On [...]

In the recent case of Stubbings v Jams 2 Pty Ltd [2022] HCA 6, the High Court has allowed an appeal relating to asset-based lending (ABL) and the enforceability of [...]

British Columbia recently released the long-awaited regulations to the high-cost credit legislation it introduced in 2019 as part of the Business Practices and Consumer Protection Amendment Act, 2019 (the Amendment [...]

On September 21, 2021, the State of New York Department of Financial Services (DFS) issued proposed regulations that will implement statutory requirements related to commercial financing disclosures for certain types [...]

Massachusetts AG Maura Healey reached a settlement with national subprime auto lender Credit Acceptance Corporation ('CAC') to resolve allegations that CAC engaged in unfair and deceptive practices in originating, collecting, [...]

At an open meeting held today the Securities and Exchange Commission adopted amendments modernizing the offering and communications related rules applicable to business development companies (BDCs) and closed end funds [...]

On March 20, 2019, the Securities and Exchange Commission (SEC) voted to propose a series of rule and form amendments, as directed by Congress under the Small Business Credit Availability [...]

The Securities and Exchange Commission proposed rule amendments that are intended to modernize the offering related provisions of the Securities Act and the communications safe harbors available to business development [...]

On September 30, 2018, California Governor Jerry Brown signed into law SB 1235 (the Act),1 which requires disclosures of key terms in connection with certain commercial financing by non-banks and [...]

If you are not independently wealthy, and perhaps even if you are, eventually you will probably need to obtain some outside capital for your business. In some instances, you may [...]

Following Borders & Borders PLC's (Borders) successful summary judgment motion last summer, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion for reconsideration with the federal district court [...]

Among the financial tools used in our country, factoring in Costa Rica is not something new. This financial process has been in practice for several years and it's quite useful [...]

The Chinese Ministry of Human Resources and Social Security (MHRSS) has launched a new nationwide grading system to evaluate employers' employment law compliance. This system has been put in place [...]

On August 3, 2015, the D.C. Circuit Court of Appeals entered an order staying Consumer Financial Protection Bureau (CFPB) Director Richard Cordray's June 4, 2015, order imposing injunctive relief and [...]

On 1 April 2015, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, enacted Federal Law No 2 of 2015 (the Commercial Companies Law, or [...]

The Attorney- General's Department has announced that the exemption for commercial credit providers (CCPs) from the external dispute resolution (EDR) membership obligation should continue indefinitely. As advised in our Legal [...]

Commercial credit providers (CCPs) may be required, by the current Australian privacy laws, to join an external dispute resolution (EDR) scheme (EDR scheme) by 12 March 2015 if they wish [...]

(This article is part of a 10-part series for the blog of Public Contracting Institute called, 'A Government Contractor's Ten Commandments.') When Congress was contemplating the passage of the Federal [...]

Commercial credit providers and utilities are not required to join a recognised external dispute resolution scheme to participate in credit reporting until 12 March 2015. The Attorney-General has released regulations [...]

Introduction On December 18, 2013, the Securities and Exchange Commission (SEC) proposed rules to enhance access to capital by smaller companies pursuant to its rulemaking mandate under Title IV of [...]

The Internet is famous for transforming unique new businesses into giant behemoths, seemingly overnight. Names like Amazon and Facebook are just two examples. While the recent Internet phenomenon of Peer-to-Peer [...]

Invoice discounting offers greater financial headroom and, in turn, greater financial flexibility to help meet the costs of developing your company. It also goes some way towards ensuring that you [...]

The US Treasury Department announced on 12 June that ING Bank, the major Netherlands bank, has agreed to pay a record USD 619 million to settle alleged violations of US [...]

Lawrence Gold recently presented on abuses of the Repair and Storage Liens Act (Ontario) ('RSLA') impacting commercial finance and insurance companies to the Ontario Personal Property Security Legislation Committee ('PPSL [...]

FinCEN Issues Interim Regulations Concerning Anti-Money Laundering Programs for Operators of Credit Card Systems and Money Services Businesses. As discussed in the April 23, 2002 issue of the Alert, the [...]