News & Analysis as of

Financing New Legislation

Venable LLP

New Commercial Financing Requirements Become Effective in Connecticut and Kansas

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

Hudson Cook, LLP

New Kansas Law Will Require Disclosures for Commercial Financing Transactions

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On April 12, 2024, Kansas Governor Laura Kelly signed SB 345, which establishes commercial financing disclosure requirements. The new law will take effect on July 1, 2024, and will apply to commercial financing transactions...more

McDermott Will & Emery

Mobility@McDermott: Monthly Update (12/2023)

1. European Court of Justice rules on withdrawal rights regarding vehicle financing and leasing - In a judgment released on 21 December 2023, the European Court of Justice (“ECJ”) further clarified the requirements for...more

Troutman Pepper

Nebraska Enacts Loan Licensure Requirement for Marketers, Servicers and Purchasers of Interests in Certain Bank Loans

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On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92, which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to...more

Womble Bond Dickinson

Commercial Financing Disclosure Laws Proposed in U.S. Congress

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California, Connecticut, Florida, Georgia, New York, Virginia, and Utah have enacted laws requiring consumer-like disclosures in certain commercial loans. Some of these “Commercial Financing Disclosure Laws” require...more

Troutman Pepper

Connecticut Banking Statutes Amendments Take Effect October 1

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On June 29, Connecticut Governor Ned Lamont signed SB 1033, An Act Concerning Various Revisions to the Banking Statutes, into law. As discussed here, with this bill, Connecticut joins several other states that have set strict...more

Troutman Pepper

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

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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

Womble Bond Dickinson

Florida Enacts Commercial Financing Disclosure Law

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On June 23, 2023, Florida Governor Ron DeSantis signed into law Florida House Bill 1353, the latest in the growing trend of commercial financing disclosure laws (CFDLs). Florida follows the lead of California, Georgia, New...more

Manatt, Phelps & Phillips, LLP

Commercial Financing Disclosure Laws Continue to Spread

U.S. states continue to consider and adopt statutes requiring TILA-like disclosures in connection with various types of commercial financing transactions. Most recently, Georgia passed a law, effective January 1, 2024,...more

Holland & Knight LLP

New York's "Small Business" Commercial Financing Disclosure Law

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If you are a nonbank finance company that makes commercial loans of $2.5 million or less in New York or represent such a company, this Holland & Knight alert is for you. There has been a growing concern expressed over the...more

Burr & Forman

Three Ways the Inflation Reduction Act Advances Green Banking

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The Inflation Reduction Act was signed into law on Tuesday, August 16 and significantly advances the innovative financing method known as green banking. Here are three ways the Act furthers that investment technique in...more

Franczek P.C.

Governor signs Bill Amending PTELL and School Code on Several School Finance Provisions

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On Monday Governor Pritzker signed into law Public Act 102-0895 (Senate Bill 1975) creating Section 18-190.7 of the Property Tax Code, which modifies how certain school districts and other units of local government can...more

Mayer Brown

Utah Enacts Commercial Financing Disclosure Law with a Registration Obligation

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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 March 24, Utah Governor...more

Kramer Levin Naftalis & Frankel LLP

Commentaires de la réforme du droit des sûretés

« Réforme du droit des sûretés : des outils rénovés et modernisés au service du financement de l’économie » La ratio legis de la réforme du droit des sûretés – La réforme du droit des sûretés a été adoptée par l’ordonnance...more

Mayer Brown

NY Expands Coverage of Recently Enacted Commercial Financing Disclosure Law

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As expected, New York has broadened the reach of its new commercial financing disclosure law less than two months after its enactment. S.B. 5470, as previously reported by Mayer Brown, imposed a range of Truth in Lending-like...more

Dorsey & Whitney LLP

Iowa Governor Signs Legislation Related to Iowa County Hospitals’ Authority to Borrow Money

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On June 30, 2020, Governor Reynolds signed into law House File 2643 (“HF 2643”) relating to various appropriations to and legal and regulatory responsibilities for state and local governmental entities. Specially related to...more

Best Best & Krieger LLP

New Year, New Laws Impacting Public Agencies In California – Part I

The California Legislature passed a number of laws last year that will have a significant impact on how public agencies — including cities and counties, special districts, schools and school districts and more — do business....more

Holland & Knight LLP

Se publica en la Gaceta oficial el texto final de la nueva Ley de Financiamiento Colombia

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El pasado 21 de diciembre de 2018, se publicó en la Gaceta del Congreso bajo el código 1152, el texto definitivo de la Ley de Financiamiento Colombia por la cual se expiden normas de financiamiento para el restablecimiento...more

Hogan Lovells

California’s new law requires commercial finance disclosures

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On September 30, 2018, California’s Governor signed into law Senate Bill No. 1235, requiring consumer-like disclosures to be provided to recipients of certain business-purpose financial services products (“commercial...more

Allen Matkins

California Will Soon Require Novel Disclosure Requirements Providers Of Commercial Financings

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In February, I noted the introduction of a bill that would require any person engaged in the business of commercial financing to provide specified disclosures to prospective borrowers. On September 30, Governor Brown signed...more

Dickinson Wright

Summary of Amendments to Construction Lien Act

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In December 2017, the Ontario Legislature passed the Construction Lien Amendment Act, 2017 (the "Act"). The Act introduces significant changes to Ontario’s construction lien regime and is intended to reduce delays in...more

Orrick, Herrington & Sutcliffe LLP

Tax Cuts And Jobs Act - Impact On Financing Transactions

The Tax Cuts and Jobs Act (the "Tax Act") was signed into law by President Trump on December 22, 2017. With respect to financing transactions, the relevant changes include the following:...more

McDermott Will & Emery

Focus on China - October 2015

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Welcome to the third issue of Focus on China Compliance for 2015. According to the FCPA Blog’s October 2015 Corporate Investigations List, China leads the countries reported to be involved in FCPA investigations with 29...more

Smith Anderson

Significant Legislation Affecting Business Passed by General Assembly

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At the end of last week, the North Carolina General Assembly passed significant legislation affecting the State’s business legal climate. With large bipartisan majorities, the Legislature adopted Senate Bill 853 (SB 853),...more

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