News & Analysis as of

New Legislation Disclosure Requirements Lenders

Orrick, Herrington & Sutcliffe LLP

Texas enacts new disclosure and registration requirements for commercial financing transactions

Recently, the governor of Texas signed HB 700 into law, amending Title 5 of the Texas Finance Code to establish new disclosure and registration requirements for certain commercial sales-based financing transactions. Under the...more

Goodwin

Connecticut Enacts Law Regulating Earned Wage Access Services

Goodwin on

Connecticut has enacted a law (the amendment) amending the state’s existing small loan act (the act). In this alert, we focus on the amendment’s application of the act to “earned but unpaid wage or salary income advances”...more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast

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In this special crossover edition of Payments Pros and The Consumer Finance Podcast, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — Payments Pros – The Payments Law Podcast

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In this special crossover edition of the Payments Pros and Consumer Finance podcasts, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Legislation to Regulate Sales-Based Financing

On June 20, Texas Governor Greg Abbot signed into law HB 700, adding Chapter 398 to the Texas Finance Code. Effective September 1, the statute establishes a regulatory framework for commercial sales-based financing and...more

Mayer Brown

Texas Commercial Financing Disclosure and Registration Law Threatens Sales-Based Financing Industry

Mayer Brown on

Texas has enacted a law that has the potential to place substantial impediments on sales-based financing providers, including merchant cash advance companies, seeking to operate in Texas. The new Texas law prohibits...more

Husch Blackwell LLP

Five Things to Know About the New York Buy-Now-Pay-Later Act

Husch Blackwell LLP on

As part of an omnibus 2026 budget bill, New York passed a new law that will broadly govern point-of-sale (POS) installment financing offered to New York residents. The Buy-Now-Pay-Later (BNPL) Act was signed into law in early...more

Holland & Knight LLP

Texas Governor Signs Commercial Sales-Based Financing Legislation Into Law

Holland & Knight LLP on

Texas Gov. Greg Abbott signed House Bill (HB) 700 into law on June 20, 2025, despite significant opposition from industry with respect to one critical legislative provision. This follows the legislation's approval by the...more

Troutman Pepper Locke

Texas Enacts New Commercial Sales-Based Financing Bill Severely Restricting Automatic Debits

Troutman Pepper Locke on

On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant...more

Venable LLP

Why Fintechs Can't Always Skip the State Licensing Maze for Earned Wage Access

Venable LLP on

Earned Wage Access (EWA) lets employees access wages they've already earned, but haven't yet been paid, typically through an app or digital service. For workers, this can mean avoiding payday loans or overdraft fees....more

Blank Rome LLP

Executive Summary – New York Regulation and Disclosure – What Mortgage Applicants Need to Know

Blank Rome LLP on

A new law in New York took effect on June 11, 2025, requiring banking organizations, licensed lenders, and mortgage bankers provide a disclosure pamphlet titled “What Mortgage Applicants Need to Know” (the “Pamphlet”)....more

Mayer Brown

Licensing Link - June 2025

Mayer Brown on

Licensing Link is a periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on important issues related to state licensing across the...more

Mayer Brown

North Dakota Broadens Licensing Law to Include Alternative Financing

Mayer Brown on

North Dakota recently enacted legislation that amends the state’s main non-mortgage lender licensing law, the North Dakota Money Brokers Act (the “Act”), to define a “loan” to include any “alternative financing product” that...more

Mayer Brown

New York Enacts First-of-Its-Kind Law to License Buy-Now-Pay-Later Lenders

Mayer Brown on

The regulatory environment for “Buy Now, Pay Later” (or “BNPL”) loans is entering a new era. On May 9, 2025, New York enacted legislation that will require providers of BNPL loans to be licensed by the state and adhere to...more

Sheppard Mullin Richter & Hampton LLP

Texas Legislature Proposes Disclosure Rules for Commercial Financing 

The Texas House and Senate introduced House Bill 700 and Senate Bill 2677 to regulate commercial sales-based financing transactions. The proposed legislation would impose standardized disclosure requirements, require broker...more

Sheppard Mullin Richter & Hampton LLP

Kansas Enacts Earned Wages Access Law

On April 19, less than a month after Wisconsin’s enacted legislation, Kansas has followed suited by enacting comprehensive earned wages access legislation. Kansas’ law is set to take effect immediately upon publication....more

Sheppard Mullin Richter & Hampton LLP

Kansas Introduces New Commercial Financing Disclosure Law

On April 17, the Kansas Legislature signed SB 345, to become the most recent state to enact disclosure requirements for small business lenders. The law’s requirements apply to “providers” which are defined as persons who...more

Sheppard Mullin Richter & Hampton LLP

Louisiana Becomes Latest State to Introduce Commercial Financing Disclosure Legislation

On March 1, the Louisiana Senate introduced SB 335, a bill that would place certain disclosure requirements on providers of commercial financing transactions. Specifically, “providers” (defined as persons who consummate more...more

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