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Ready Or Not, Commercial Financing Disclosure Laws Are Here

Webinar: ID# 1041360
Recorded On-Demand
About This Course:
The time to learn disclosure law is now. Increasingly, states are enacting laws and regulations aimed at informing and protecting small businesses. California and New York are leading the way with laws and comprehensive regulations requiring lenders, factors, and other financiers to make certain disclosures when offering, amending, or renewing financings to businesses.

The laws and regulations are designed to allow small businesses to more easily compare different types of financing products using similar terms, but, in practice, they are difficult for financiers to understand and comply with.

California's regulations become effective on December 9, 2022, and New York will likely adopt final regulations shortly thereafter, which, as currently drafted, will impact not only transactions with New York recipients of commercial financing but recipients in other states as well.

This presentation will help financiers understand the applicability, scope, and requirements of the California and New York commercial financing disclosure laws and regulations and the potentially severe civil and regulatory liabilities for failing to comply with these new regulations.What You'll Learn:Who Must Make Disclosures
  • Transactions to Which Disclosures Apply
  • Entities Exempt From Disclosures
  • Use of Brokers
  • Difference Between NY and CA Disclosure Laws
The Information That Must Be Disclosed
  • Total Amount Financed
  • Total and Itemized Finance Charges
  • Annual Percentage Rate
Calculating APR
  • Fees Included in APR
  • Fees Excluded From APR
  • Assumptions Used to Calculate APR
When Must the Disclosures Be Made
  • Initial Financing
  • Renewal Financing
  • Amendments to Financing
Penalties for Non-Compliance
  • Regulatory Fines
  • Criminal Penalties
  • Injunctions and Civil Liabilities
The Future
  • Potential Impact of Disclosure Laws on Lenders
  • Potential Impact of Disclosure Laws on Borrowers
Ready Or Not, Commercial Financing Disclosure Laws Are Here
or via On-Demand
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