On June 20, 2025, Texas Governor Greg Abbott signed House Bill 700, which regulates sales-based financing transactions and requires providers and brokers of sales-based financing transactions to register with the Texas Office...more
7/3/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Financial Services Industry ,
Financing ,
Governor Abbott ,
New Legislation ,
Proposed Legislation ,
Registration Requirement ,
Regulatory Authority ,
Regulatory Requirements ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
On February 11, 2025, the Supreme Court of New York, Nassau County, ordered a hearing on whether a financing contract between Square Funding LLC and Walsh Roofing Services of Tampa Bay, LLC, was a "merchant cash advance"...more
On January 16, 2025, Yellowstone Capital and other entities, along with Yellowstone officers Isaac Stern and Jeffrey Reece, settled claims by New York Attorney General Letitia James that Yellowstone and the other entities...more
On December 19, 2023, President Biden vetoed a Congressional resolution that would have nullified a Consumer Financial Protection Bureau rule requiring lenders to report demographic information about small business loan...more
If you cancel a service before your contract is up and you paid ahead of time, you probably expect a refund. For example, if you paid $600 for a year's worth of a service and cancelled nine months into the contract, you...more
The California Department of Financial Protection and Innovation became the nation's first regulator with authority to police "abusive" acts and practices in commercial financing when it recently adopted final regulations to...more
On March 24, Utah Governor Spencer Cox signed S.B. 183, the Commercial Financing Registration and Disclosure Act ("CFRDA"). This makes Utah the third state to adopt a commercial financing disclosure law, following California...more
A lot of lawyers are afraid of numbers, but I'm one of the strange ones who enjoys handling the mathematical aspects of financial services law. To a lawyer like me, the beauty of a credit or lease contract is that if you've...more
Maryland Commissioner of Financial Regulation Asserts Action against Non-Maryland State Bank for Lending Without State License -
On January 21, 2021, the Maryland Commissioner of Financial Regulation filed an...more
On July 17, the Consumer Financial Protection Bureau added new features to its Consumer Complaint Database. The new "trends" features allow a user to view complaint data over time. While the database always allowed a user to...more