The California Department of Financial Protection and Innovation (DFPI) finalized regulations that prohibit unfair, deceptive, and abusive acts and practices (UDAAP) in the offering or provision of commercial financing or...more
In the third in our series on the California Commercial Financing Disclosure Regulations, we focus on the disclosure requirements for merchant cash advances (MCAs)....more
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....more
Two weeks after the issuance of its commercial financing disclosure regulations, the California Department of Financial Protection and Innovation issued a Notice of Proposed Action with draft regulations that would (1) expand...more
On June 9, 2022, the California Office of Administrative Law approved the California Department of Financial Protection and Innovation’s final regulations implementing California’s first-of-its-kind commercial financing...more
On September 30, 2018, California Governor Jerry Brown signed into law SB 1235 (the Act), which requires disclosures of key terms in connection with certain commercial financing by non-banks and could impact bank/non-bank...more
On June 15, 2017, the Consumer Financial Protection Bureau (“CFPB”) released proposed revisions to its final Prepaid Accounts Rule (“Final Rule”). The Final Rule was published in November 2016 and was subsequently amended to...more