New State Commercial Finance Disclosure Laws: Common Themes, Key Differences, Compliance Strategies, Risk Mitigation
Required Documentation and Timing of Disclosures; Applicable Lenders and Types of Financing
A live 90-minute premium CLE video webinar with interactive Q&A
This CLE webinar will provide a survey and comparison of state commercial finance disclosure requirements. The panel will review the similarities and differences of current state disclosure laws, highlight laws with high risk areas of enforcement, recommend strategies for revising loan documents and closing procedures to comply with these evolving state laws, and outline the applicability of these new laws to commercial finance companies nationwide.
Outline
- Overview: how commercial finance disclosure laws are developing on the state level
- Applicability of state commercial finance disclosure laws: types of lenders and transactions covered
- CFPB's position on whether the Truth in Lending Act preempts state disclosure laws
- Common themes in state disclosure requirements
- Comparing current state disclosure laws: similarities and differences
- High risk states and penalties for noncompliance
- Recommendations and strategies for revising documents, onboarding flows, and compliance practices to comply with the evolving patchwork of state laws
Benefits
The panel will discuss these and other key considerations:
- How are commercial finance disclosure laws developing on the state level?
- What types of commercial finance companies are exempt from the current state laws in place? Do the statutes apply to lenders located outside of states with disclosure laws?
- What are the particular disclosures required under the rules in each state, and when must they be made to the borrower?
- How should lenders adapt or revise their documents, onboarding flows, and compliance practices to comply with the evolving patchwork of state laws?
Faculty
Caleb N. Rosenberg
Counsel
Troutman Pepper Locke
Mr. Rosenberg helps clients across the financial services industry navigate the complexities of a highly regulated... | Read More
Mr. Rosenberg helps clients across the financial services industry navigate the complexities of a highly regulated landscape. His work with fintech companies and state and national banks includes advising them on the regulatory risks posed by state and federal laws intended to protect consumers and small businesses in the credit and alternative finance products industry. He also advises industry trade groups on a variety of matters, including counseling on the impact of pending legislation and rules affecting the group’s members. Mr. Rosenberg drafts comment letters and also provides guidance issues that arise in their day-to-day operations. As a key resource across his clients’ needs, he assists with a variety of transactions, such as secured and unsecured loan agreements, retail installment sales contracts, credit card agreements, and alternative finance agreements. His finance experience also includes performing regulatory due diligence on fintech companies. Mr. Rosenberg provides practical advice on implementing policies and procedures necessary to comply with state and federal law. He assists clients in responding to regulatory inquiries, including those related to the application of state law to bank partnerships and alternative financing products.
CloseEarly Discount (through 10/03/25)
