• 09.11.23

    The CFPB’s Summer 2023 Supervisory Highlights

    The Consumer Financial Protection Bureau’s (CFPB or Bureau) Summer 2023 Supervisory Highlights, which discusses key examination findings between July 2022 and March 2023, underscores the Bureau’s continuing aggressive interpretations of its authority.

  • 08.21.23

    California Imposes More Regulation on Commercial Financing

    After being the first state to impose disclosure requirements on small business finance transactions, California has now added an annual reporting requirement and subjected commercial finance companies to UDAAP claims. 

  • 06.12.23

    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. 

  • 01.23.23

    CFPB Lawsuit Against Subprime Auto Lender Seeks To Regulate Through Enforcement

    On January 4, 2023, the Consumer Financial Protection Bureau and New York Attorney General filed a complaint in the Southern District of New York against a Michigan-based subprime indirect auto lender accusing it of misrepresenting the true cost of credit and improperly incentivizing dealers to ...

  • 07.18.22

    California Regulator Proposes Debt Collector Licensing Rules

    Months after the California Debt Collection Licensing Act took effect and covered persons were required to submit applications to obtain licenses, the Department of Financial Protection and Innovation has proposed regulations that if adopted will help clarify who may be covered and therefore needed ...

  • 06.13.22

    Comment Deadline Approaching for CA’s Burdensome Proposal on Handling and Reporting Complaints

    July 5 is the deadline for submitting comments on the California Department of Financial Protection and Innovation’s proposed regulations on complaint handling and reporting, which would impose significant obligations on certain providers of consumer financial services in California.

  • 05.02.22

    FTC Proposes Expansion of TSR That May Impact SMB Lending

    The Federal Trade Commission (FTC) issued a press release announcing a notice of proposed rulemaking and an advance notice of proposed rulemaking seeking public comment on possible changes to the Telemarketing Sales Rule  “extending protections against telemarketing tricks and ...

  • 04.04.22

    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 enact disclosure requirements for commercial lending transactions.

  • 02.02.22

    CFPB Publishes Latest Regulatory Agenda

    The Consumer Financial Protection Bureau (CFPB) published its latest semi-annual regulatory agenda in the Federal Register on January 31, 2022.

  • 01.05.22

    Effective Date of NY Commercial Finance Disclosure Law Postponed

    Commercial finance providers doing business in New York will have more time to comply with New York’s new law requiring consumer-like disclosures to be made for certain types of commercial financing.

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