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Troutman Pepper Locke

Texas Introduces Legislation to Regulate Sales-Based Commercial Financing

Troutman Pepper Locke on

Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction...more

Allen Matkins

California Bill Would Ban This Unusual "Purpose Credit"

Allen Matkins on

Regulation U, 12 CFR § 221.1 – 221.125, imposes certain requirements for lenders, other than securities brokers and dealers, who extend credit secured by margin stock.  Regulation U defines "purpose credit" as "any credit for...more

Morrison & Foerster LLP

Another Fine Mess U’ve Gotten Me Into: When Buying a Syndicated Loan Triggers Registration Under Regulation U

Morrison & Foerster LLP on

Regulation U, promulgated by the Federal Reserve Board (the “Board”), governs extensions of credit by entities other than broker-dealers that are secured by “margin stock.” Most large syndicated commercial loans do not...more

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