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 compliance now, while others will apply to loans on or after some future date. Similar CFDL legislation has been introduced in other states. Although the new laws and proposed legislation are similar in many ways, they are not uniform with respect to types of loans and lenders they regulate nor with respect to available exemptions from the laws.
As of the date of this post, the following states have proposed various forms of […]
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